Colorado Life Insurance Final Exam Latest

Colorado Life Insurance Final Exam Latest Update - Sources with 100 Questions and Verified Correct Answers Golden Ticket to Guaranteed A+ Verified by Professor

12-month period - CORRECT ANSWER: A license is considered to be used for

controlled business if the total amount of premiums on controlled business would

exceed the total amount of premiums on all other insurance business during any:

15 days - CORRECT ANSWER: All life insurance policies have a free look period of how many days?

2% - CORRECT ANSWER: From the date of death to the date of the claim settlement, the annual rate of interest paid on death benefits is what percentage above the federal discount rate?

24 hours - CORRECT ANSWER: Insurance producers must complete how many hours

of continuing education each licensing period?

3 individuals - CORRECT ANSWER: In Colorado, what is the minimum number of

individuals a group life policy will cover?

30 days - CORRECT ANSWER: A producer or business entity shall report to the

Commissioner any administrative action taken against the producer within:

30 days - CORRECT ANSWER: How many days does an insurance producer have to

report to the Commissioner any administrative action taken against them as well as any criminal prosecution that occurs in another jurisdiction?

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59 1/2 - CORRECT ANSWER: At what age would a qualified retirement plan distribution be premature?

5th degree or closer - CORRECT ANSWER: Insurable interest exists only for those

related within the:

A 41 year old lawyer who wants a policy to pay his mortgage if he dies (decreasing term life generally is used as mortgage insurance) - CORRECT ANSWER: A decreasing term

life policy would be the most appropriate for:

A consent form must be signed by the applicant prior to the test. - CORRECT ANSWER: Which of the following must happen before an HIV test is performed on an applicant?

A group formed for the purpose of obtaining insurance - CORRECT ANSWER: Which of the following groups is ineligible for group life insurance?

A life insurance application requires the agent, proposed insured, and the policy owner if different from the insured to sign it. - CORRECT ANSWER: Life insurance applications require a signature from

A person who solicits, negotiates, effects, procures, delivers, renews, or continues

policies of insurance in Colorado - CORRECT ANSWER: An insurance producer

includes which of the following people?

Accelerated benefit rider - CORRECT ANSWER: Which rider on Diane's life policy will help her out when she is confined to a nursing home with a terminal illness?

Accelerated benefits - CORRECT ANSWER: Life insurance death benefits that can be

accessed tax-free when the insured is still alive are called:

Application - CORRECT ANSWER: What is the biggest source of information used in

underwriting?

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