semplr.

Exams · Certifications · Licensing

Life and Health Insurance Producer Exam

Policy provisions (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.

Start the free mock exam

Question 1 · Colorado

Under Colorado law, when may a life insurer no longer refuse payment because the insured committed suicide?

  1. Never; suicide always voids it
  2. After the first policy year
  3. After six months of coverage
  4. After the second policy year
Show the answer

B. After the first policy year — C.R.S. 10-7-109.

Question 2 · Colorado

How long a free-look period must a Colorado individual life policy give the policyholder?

  1. 10 days from delivery
  2. 15 days from delivery
  3. 20 days from delivery
  4. 31 days from delivery
Show the answer

B. 15 days from delivery — C.R.S. 10-7-302(1)(g).

Question 3 · Colorado

For a Colorado individual life policy paid less often than monthly, how much notice of lapse for nonpayment must the insurer give the owner?

  1. At least 25 days before the lapse takes effect
  2. At least 10 days before the lapse takes effect, by certified mail
  3. At least 45 days before the premium due date
  4. None; the grace period alone serves as notice
Show the answer

A. At least 25 days before the lapse takes effect — C.R.S. 10-7-105.5(2), (4).

More Life & Health Insurance topics