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Life and Health Insurance Producer Exam

Licensing (CO): practice questions

Our Life & Health Insurance bank has 9 questions on this topic. Here are 5 of them with answers; the full mock exam draws from every topic, like the real one.

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Question 1 · Colorado

What exam relief does Colorado give an applicant who holds the Chartered Life Underwriter (CLU) designation?

  1. Must take the full exam but may skip the ethics part of continuing education
  2. Must take the full exam but may skip the prelicensing course hours
  3. Exempt from every part of the exam and from prelicensing education
  4. Exempt from the exam except the portion on Colorado laws and rules
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D. Exempt from the exam except the portion on Colorado laws and rules — C.R.S. 10-2-403(1)(c).

Question 2 · Colorado

What happens when a nonresident receives a Colorado producer license?

  1. The commissioner becomes the nonresident's agent for service of legal process
  2. The producer must keep a Colorado office staffed at all times by a licensed resident producer
  3. The producer must post a bond for any lawsuits brought in Colorado
  4. The producer may only renew existing policies of Colorado residents
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A. The commissioner becomes the nonresident's agent for service of legal process — C.R.S. 10-2-503(1); 10-2-502(3).

Question 3 · Colorado

The Colorado Commissioner may issue a temporary license, for example to the surviving spouse of a deceased producer. What are its limits?

  1. Up to one year, renewable once without an exam
  2. Up to 180 days, and no exam is required
  3. Up to 30 days, and it can never be extended
  4. Up to 90 days, and the exam must be passed first
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B. Up to 180 days, and no exam is required — C.R.S. 10-2-410(1).

Question 4 · Colorado

Before licensing an insurance agency (business entity) as a producer, what must the Colorado Commissioner verify?

  1. It has kept a principal office in Colorado for at least two years before applying
  2. It has posted a surety bond with the Commissioner equal to at least one full year of its expected premium volume
  3. It has named a licensed producer who is an officer, partner, or director to be responsible for compliance
  4. It holds written appointments from at least three insurers authorized in Colorado
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C. It has named a licensed producer who is an officer, partner, or director to be responsible for compliance — C.R.S. 10-2-404(2)(d).

Question 5 · Colorado

Before approving a resident individual producer application, the Colorado Commissioner must verify the applicant is at least what age?

  1. 21 years old, or 18 if an insurer sponsors
  2. Age 19
  3. 18 years old
  4. 16 years old with parental consent
Show the answer

C. 18 years old — C.R.S. 10-2-404(1)(a).

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