Colorado Life & Health Insurance Exam Questions AND Correct
Answers
$100 - ✔✔All group and individual health plans issued in
Colorado that provide coverage for hospital, surgical, or
medical expenses must cover diabetes, including equipment,
supplies, and, when administered by a professional diabetes
expert, outpatient self-management training and education.
This includes how much $ for a 30-day insulin supply?
$3,000 - ✔✔The Commissioner may assign penalties in
addition to those authorized by law, including: fine the
producer up to $? for the violation.
$3,000; $30,000 - ✔✔If, after a hearing, the Commissioner
finds that someone has engaged in an unfair method of
competition, deceptive act or practice, or has violated any
other rules or laws, they may impose a civil fine up to ____
per unintentional violation and up to a maximum of
_________ for all unintentional violations.
$750,000 - ✔✔The maximum penalty for a knowing violation
of an unfair trade practice is:
1-3% - ✔✔Disability insurance is typically what percentage of
someone's income?
,102% - ✔✔COBRA states that with continuation of coverage,
employers may require a former employee or their surviving
spouse to pay up to 102% of the premium.
12 months - ✔✔Long-term care insurance is any insurance
policy designed to provide coverage for not less than ___
consecutive months.
14 days - ✔✔Employees must be notified of their right to
continue coverage within ___ days of a qualifying event. The
employee or the beneficiary must notify the employer within
60 days if they elect to continue coverage.
15-year policy - ✔✔Which of the following term life insurance
policies would have the highest 1st-year annual premium, all
other factors being equal?
5-year
10-year
15-year
18 months - ✔✔In Colorado, continuation coverage must be
provided for a long-term employee for up to ________ from
the termination of employment.
, 180 days - ✔✔At least how many days in advance must an
insurer give an insured notice of non-renewal for a health
plan?
90 days
180 days
60 days
30 days
20 - ✔✔Employers with ___ + employees are required to
offer COBRA for up to 18 months after an employee is
terminated.
24 - ✔✔How many credit hours of continuing education must
a Colorado producer complete every license renewal period?
3 - ✔✔With regard to an individual health policy issued in
Colorado, an insured has ________ years to take legal action
to recover benefits.
3 months - ✔✔All individual health benefit plans issued to
policyholders that receive federal subsidies under the ACA
must contain a provision for a grace period of:
3 years - ✔✔With regard to an individual health policy issued
in Colorado, an insured has ________ years to take legal
Answers
$100 - ✔✔All group and individual health plans issued in
Colorado that provide coverage for hospital, surgical, or
medical expenses must cover diabetes, including equipment,
supplies, and, when administered by a professional diabetes
expert, outpatient self-management training and education.
This includes how much $ for a 30-day insulin supply?
$3,000 - ✔✔The Commissioner may assign penalties in
addition to those authorized by law, including: fine the
producer up to $? for the violation.
$3,000; $30,000 - ✔✔If, after a hearing, the Commissioner
finds that someone has engaged in an unfair method of
competition, deceptive act or practice, or has violated any
other rules or laws, they may impose a civil fine up to ____
per unintentional violation and up to a maximum of
_________ for all unintentional violations.
$750,000 - ✔✔The maximum penalty for a knowing violation
of an unfair trade practice is:
1-3% - ✔✔Disability insurance is typically what percentage of
someone's income?
,102% - ✔✔COBRA states that with continuation of coverage,
employers may require a former employee or their surviving
spouse to pay up to 102% of the premium.
12 months - ✔✔Long-term care insurance is any insurance
policy designed to provide coverage for not less than ___
consecutive months.
14 days - ✔✔Employees must be notified of their right to
continue coverage within ___ days of a qualifying event. The
employee or the beneficiary must notify the employer within
60 days if they elect to continue coverage.
15-year policy - ✔✔Which of the following term life insurance
policies would have the highest 1st-year annual premium, all
other factors being equal?
5-year
10-year
15-year
18 months - ✔✔In Colorado, continuation coverage must be
provided for a long-term employee for up to ________ from
the termination of employment.
, 180 days - ✔✔At least how many days in advance must an
insurer give an insured notice of non-renewal for a health
plan?
90 days
180 days
60 days
30 days
20 - ✔✔Employers with ___ + employees are required to
offer COBRA for up to 18 months after an employee is
terminated.
24 - ✔✔How many credit hours of continuing education must
a Colorado producer complete every license renewal period?
3 - ✔✔With regard to an individual health policy issued in
Colorado, an insured has ________ years to take legal action
to recover benefits.
3 months - ✔✔All individual health benefit plans issued to
policyholders that receive federal subsidies under the ACA
must contain a provision for a grace period of:
3 years - ✔✔With regard to an individual health policy issued
in Colorado, an insured has ________ years to take legal
