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Colorado Laws and Rules Pertinent to Insurance Quiz with correct Answers | Latest 2024/2025 $10.99   Add to cart

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Colorado Laws and Rules Pertinent to Insurance Quiz with correct Answers | Latest 2024/2025

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  • Colorado Laws And Rules

According to the Colorado Fraud Statute, all of the following must contain a warning against insurance fraud except: - applications - policies - certificates of authority - claim forms - certificates of authority In Colorado, which of the following is true regarding the commingling o...

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  • October 2, 2024
  • 22
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • colorado laws and rules
  • Colorado Laws and Rules
  • Colorado Laws and Rules
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Colorado Laws and Rules Pertinent to
Insurance Quiz with correct Answers.

According to the Colorado Fraud Statute, all of the following must
contain a warning against insurance fraud except:


- applications
- policies
- certificates of authority
- claim forms - certificates of authority


In Colorado, which of the following is true regarding the commingling of
an insurer's funds with the funds of the producer?


- it it ok with the insured's written approval
- it is ok with the insurer's written approval
- it is never ok
- It is ok if records are kept on the transaction - it is never ok


If an insurance company wishes to discriminate rates based on gender,
it must:

,- receive prior approval from the Department of Insurance
- allow for no more than a 10% rate difference
- be justified by actuarial statistics
- disclose the rate difference on the application - be justified by
actuarial statistics


As a condition to be approved for a loan, a creditor may require the
borrower to...


- obtain an insurance policy through an insurer of the borrower's
preference
- obtain an insurance policy through an insurer of lender's preference
- obtain an insurance policy through the lender
- obtain an insurance policy for more than the loan amount - obtain
an insurance policy through an insurer of the borrower's preference


Which of the following documents are NOT required to mention to the
Colorado fraud Statute?


- policies
- certificates of authority
- claim forms
- applications - certificates of authority

, An insurer can deny a claim under a long-term care insurance policy for
any material misrepresentation made by the insured if It has been in
effect for


- fewer than 6 months
- more than 6 months
- at least 1 year
- no more than 2 years - fewer than 6 months


When may the Commissioner conduct an examination if an insurance
policy?


max once per year
mac every 3 yrs
max every 5 years
as often as deemed necessary as often as deemed necessary


An insurer cannot deny a claim unless...


- the Commissioner gives a written approval
- it exceeds a specific dollar amount
- there is a reasonable explanation of the claim

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