Colorado Life & Health Insurance State Law Supplement Practice Exam
What is the maximum amount the commissioner can fine an insurer for each violation of a cease-and-desist order?(Ans- $10,000
When appropriate the commissioner reports a violation of insurance law to (Ans- The district attorney
A company that has not been authorized to operate in Colorado is known as (Ans- A nonadmitted insurer
An insurer that terminates the producers appointment must inform the commissioner within how many days?(Ans- 30
All of the following are duties of the commissioner except: a. keeping
records of the insurers that he has examined b. adopting rules and regulations c. writing insurance laws d. submitting an annual report to the General assembly (Ans- See. Writing insurance laws
When an insurer terminates a producer's appointment, the insurer must notify (Ans- The commissioner and producer
An insurance producer who solicits insurance on behalf of an insurer represents the (Ans- Insurer
- / 2
The commissioner may...(Ans- Conduct investigations and subpoena witnesses whenever he deems it necessary
The commissioner gives approval to an insurer to do business in Colorado in a certificate of (Ans- Authority
In Colorado all of the following are considered unfair trade practices except:
- Misrepresentation b. Rebating c.. Replacement D. Coercion
(Ans- C. Replacement
All of the following are violations of Colorado insurance law except: a.
Charging individuals of the same class different premium rates b. Offering tickets to a football game as an incentive to purchase a policy c. In forming a new policy holder that his new policy, if lapsed for nonpayment of premium, could be reinstated upon reapplication d. Having an arrangement to sell stock to a person contingent upon the purchase of an annuity (Ans- C. In forming a new policy holder that his new policy, if lapsed for nonpayment of premium, could be reinstated upon reapplication
All of the following insurance practices are illegal in Colorado except: A.
Soliciting or procuring insurance without a license B. Paying a fee for services as an insurance producer to anyone who is not properly licensed
- Inquiring about an applicant sexual orientation in connection with an
application D. Replacing one life insurance policy with another (Ans- D. Replacing one life insurance policy with another
How many hours of continuing education must be in courses associated with the lines of insurance for which the producer is licensed?(Ans- 18
All of the following are examples of unfair claims settlement practices
except: A. Paying the claim without conducting an investigation B. Denying
a claim promptly but without explaining the coverage or laws on which the
- / 2