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Life and Health Insurance Producer Exam

Penalties (CO): practice questions

Our Life & Health Insurance bank has 5 questions on this topic. Here are 3 of them with answers; the full mock exam draws from every topic, like the real one.

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Question 1 · Colorado

An individual producer violates a Colorado cease-and-desist order while it is in effect. What is the maximum fine per act?

  1. $10,000
  2. $2,500
  3. $1,000
  4. $500
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D. $500 — C.R.S. 10-3-1109(1)(a).

Question 2 · Colorado

Within what time must a Colorado producer report an administrative action taken against the producer in another state?

  1. 10 days after the final disposition
  2. At the next license continuation date
  3. 60 days after the matter is first filed
  4. 30 days after the final disposition
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D. 30 days after the final disposition — C.R.S. 10-2-801(3)(a).

Question 3 · Colorado

After a hearing finds an unfair practice, what monetary penalty may the Colorado Commissioner order in the ordinary case (not a knowing insurer)?

  1. $1,000 per act, up to $10,000 in total
  2. $10,000 per act, up to $100,000 in total
  3. $3,000 per act, up to $30,000 in total
  4. $5,000 per act, with no total limit
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C. $3,000 per act, up to $30,000 in total — C.R.S. 10-3-1108(1)(a).

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