Colorado Life and Health Exam Questions and Answers with complete
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Course
NU1426
Institution
NU1426
Colorado Life and Health Exam | Questions and Answers with complete
when does a certificate of authority expire
when do you report administrative actions
Penalty for license denial, suspension, or revocation
Penalties for falsifying books/documents
Unfair Trade Practices and methods of compet...
Colorado Life and Health Exam | Questions and
Answers with complete
1). When does a certificate of authority expire
Ans: June 30th
2). When do you report administrative actions
Ans: within 30 days
3). Penalty for license denial, suspension, or revocation
Ans: 3,000
4). Penalties for falsifying books/documents
Ans: maximum fine of 5,000 and between 2-12 months imprisonment
5). Unfair trade practices and methods of competition fines
Ans: 3000 maximum per violation
30,000 maximum aggregate
30,000 insurer maximum per
750,000 insurer maximum aggregate
6). Claims must be paid by insurers within
Ans: 60 days
7). Violation of cease and desist orders
Ans: 500$ maximum for the individual
10,000 maximum for insurer
8). Emergency cease and desist order fine
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, Ans: 25,000$
9). Minimum age for license
Ans: 18
10). Change of address must be reported in
Ans: 30 days
11). Minimum hours required for industry ethics
Ans: 3 hours
12). Prelicensing requirements
Ans: 50 hours
13). Terminating an appointment
Ans: the commissioner must be notified in 30 days
Insurer has 15 days to notify the producer
14). Producer license renewal period
Ans: 2 years
15). After reciept producer must remit premiums to insurer within
Ans: 45 days
16). A producer must return all premium to insured within
Ans: 30 days
17). Division of insurance inquiries must be answered in
Ans: 20 days
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