Colorado Life Insurance Final Exam

Colorado Life Insurance Final Exam | Questions and Verified Answers | 100% Correct (Latest Update 2025 / 2026)

Question:

No insurer may require an applicant to submit to an HIV-related test unless

the insurer does all the following, EXCEPT:

Answer:

Gets written permission from the state

Question:

Dylan tells the insurer to keep the dividend and apply it to his next premium.He is using which dividend option?

Answer:

Reduction of premium

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Question:

The Insurance Commissioner may place an insurance producer on probation, suspend, revoke, or refuse to issue or renew a license, order restitution to be

paid, or order a civil penalty for all the following, EXCEPT:

Answer:

Failing to pay federal income taxes

Question:

Which of the following could be used to prevent a lapse in the payment of life insurance premiums?

Answer:

Automatic premium loan

Question:

Which of the following groups is ineligible for group life insurance?

Answer:

A group formed for the purpose of obtaining insurance

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Question:

Colorado requires producers to avoid the use of all the following words,

EXCEPT:

Answer:

Death

Question:

How often can the Commissioner conduct a financial examination of a licensed insurer?

Answer:

As often as he deems necessary

Question:

The Colorado Insurance Fraud Statute designed to accomplish all of the

following, EXCEPT:

Answer:

To lower the cost of insurance

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Question:

How much time must a replacing insurer that uses producers be able to produce copies of the notification regarding replacement?

Answer:

At least 5 years or until the next examination by the Department, whichever is later

Question:

An agent offering to waive the prospective client's first life insurance premium is engaging in which of the following unfair practices?

Answer:

Rebating

Question:

The beneficiary designation that allows the policy to be changed without the

beneficiary's consent:

Answer:

Revocable

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