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