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
