Exam (elaborations)
Colorado Life Insurance Final Exam Practice Questions and Answers (100% Pass)
- Course
- Institution
Colorado Life Insurance Final Exam Practice Questions and Answers (100% Pass)
[Show more]
Content preview
©PREP4EXAMS@2024 [REAL-EXAM-DUMPS] Wednesday, July 31, 2024 9:10 AMColorado Life Insurance Final Exam Practice
Questions and Answers (100% Pass)
Return of premium - ✔️✔️The life insurance rider that pays the face amount plus the total
premiums paid into the policy is known as:
Foreign or alien - ✔️✔️What kind of company can the Commissioner file a complaint to
enjoin and restrain from continuing violations of the insurance regulations of Colorado?
Yes, the interest can be paid annually, or added to the loan. - ✔️✔️Does a loan on the
cash value of a life insurance policy accrue interest, and if so, how is the interest
handled?
Needs - ✔️✔️What approach calculates the amount of money a family needs immediately
upon the death of the insured to pay for their expenses and basic necessities?
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) - ✔️✔️A decreasing term life policy would
be the most appropriate for:
30 days - ✔️✔️A producer or business entity shall report to the Commissioner any
administrative action taken against the producer within:
1
, ©PREP4EXAMS@2024 [REAL-EXAM-DUMPS] Wednesday, July 31, 2024 9:10 AM
Assignment - ✔️✔️Richard is thinking about transferring some of the ownership rights of
his policy to his brother Randy. What term is used for this type of transfer?
Term policy - ✔️✔️Jeff has limited financial resources, but finds himself in a position
where he needs a good deal of protection. A __________would probably best suit his
needs at this time.
November 7 - ✔️✔️On November 5, Zoe fills out an application for a life policy. On
November 6, the agent accepts the premium for the policy. The policy is delivered on
November 7. Which date does the Free Look period start?
24 hours - ✔️✔️Insurance producers must complete how many hours of continuing
education each licensing period?
Risk classification - ✔️✔️Jacob, James and Jonathan are triplets, and all applied for the
same type of insurance coverage at the same time. For James and Jonathan the rates
were the same. Jacob's rate was quite a bit higher. What is the most likely reason for
this difference?
Variable annuity - ✔️✔️If the cash values of an annuity are invested in securities, it is a:
Defamation - ✔️✔️If an agent were to publish literature that is false or maliciously critical
of another insurer calculated to injure a person engaged in the business of insurance,
the agent would be committing:
Other agents - ✔️✔️An agent has a fiduciary responsibility to all the following, EXCEPT:
2
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller OliviaWest. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
76669 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now