Laws & rules pertinent to life insurance EXAM 2026 Questions and Answers

Laws & rules pertinent to life insurance
EXAM 2026 Questions and Answers

Employer noncontributory group life policies must allow for all of the following

EXCEPT

conversion privilege

insured can determine the benefit amount

insured can name a beneficiary

minimum participation requirements - Correct answer-Insured can determine

benefit amount

Colorado's replacement rules apply to all of the following types of insurance

EXCEPT

1-year term

10-year term

20-year term


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, single premium whole life - Correct answer-Single premium whole life

Which of the following statements is true regarding the replacement of a life

insurance policy in Colorado?

The replacing insurer must maintain copies of all records regarding the

replacement for at least 5 years

The producer must maintain copies of all records regarding the replacement for at

least 5 years

The insurer whose policy is being replaced must keep all records regarding the

replacement for at least 5 years

All parties must maintain copies of all records regarding the replacement for at

least 10 years - Correct answer-The replacing insurer must maintain copies of all

records regarding the replacement for at least 5 years

Which of the following words may be used in the advertisement of life insurance

or annuities?

Risk-free

Guaranteed

Investment

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