CO Statutes, Rules and Regulations common to all lines

Which type of insurers would be liable for their actions in court?

ALL

Forcing a client to buy insurance from a particular lender as a condition as a condition of granting a loan is

Coercion

An insurance producer is prohibited from charging seperate fees for any of the following services except

Financial Planning

Which of the following is not a penalty for violating provisions of the insurance code?

Imprisonment

A friend helped an insurance producer sell a policy. the producer can share the commision with the friend if

The friend is licensed in the same line of insurance

Defamation

sating bad things anout a person in insurance business

An insurer who willfully violates a provision of unfair trade will be fined

up to $30,000

Which of the following terms describes making false statements about the financial condition of any insurer that are intended to injure any person engaged in the business of insurance?

Defamation

Every insurer in CO is required to prepare, implement and maintain an insurance anti-fraud plan. In addition, a summary of a company's anti-fraud efforts must be submitted to the commissioner on

Annually

Which of the following scenarios would be an example of coercion on the part of a lender?

Coercion

The mixing of premiums belonging to the insurer or the insured with the producer's personal funds not related to the business is called

Commingling

An insurer receives an Examination Request Form on June 2 and must respond by...

June 12 (10days)

In which if the following situations is it legal to limit coverage based on marital status?

NEVER

Which of the following is a specific service for which an insurance producer is NOT allowed to charge a fee to the applicant?

Qualified retirement plan design for which the producer receives a commission from the insurer.

Requirement to sell annuities and life insurance?

Series 6 examination and FINRA

Rebating

inducement offered to the insured in the sale of a policy that is not specified in a policy

If the commissioner believes a producer has committed a violation of an insurance law and hold a hearing, what is the purpose of a hearing?

to allow the aggrieved party to be heard

Two individuals are in the same risk age and class; yet they are charged different rates for their insurance policies due to an insignificant factor. What is this called?

Discrimination

noncompliance with the regulation regarding fees charged by producers may result in which of the following penalties?

Fines and license suspension or revocation