問題一覧
1
How many continuing education hours do surplus lines producers have to complete?
24 hours every 2 years
2
How many days notice is required for notice of unilateral increase or decrease in coverage?
45 days
3
How much under workers’ comp is provided for funeral and burial expenses?
$12,500
4
How much coverage is required for a TNC when not engaged in a prearranged ride?
50/100/30
5
What time frame must the commissioner conduct examination of finances of insurer in?
5 years
6
What type of system does Colorado use?
single-producer
7
When do licenses expire?
June 30th
8
How are Type 2 rates regulated?
open competition
9
How many days notice of cancellation or nonrenewal is required if it is for non-payment?
10 days
10
How many hours of a 50 hour course must be industry ethics?
3 hours
11
What is it called when a licensee writes insurance mainly for their own interest or their employer’s?
controlled business
12
What must the producer have to deposit funds while handling them?
separate insurance trust account
13
What is the act of offering something of value in order for someone to purchase insurance?
rebating
14
How many admitted insurers must someone try to purchase insurance from before they are allowed to purchase from non admitted?
3
15
Who regulates Type 1 rates?
the commissioner
16
How many days does the insurer have to notify the commissioner of their termination of a producer for cause?
30 days
17
How long must you maintain paperwork for?
current year plus 2 additional years
18
What is the act of illegally making a false or malicious statement about and insurance company or producer?
defamation
19
How many extra days does insurer have to notify producer of their termination for cause?
15 days
20
What collision deductibles must be offered?
$100 and $250
21
What is insurer’s max aggregate for unfair trade/competition?
$750,000
22
How many day notice of cancellation or nonrenewal is required?
45 days
23
How long does the insurer have to credit returned premiums to the insured’s account?
30 days
24
How long do producers have to remit premiums to the insurer after receipt?
45 days
25
What is the fine for not responding to an inquiry within the allotted amount of time?
$500 first time $5000 subsequent
26
What is individual’s max aggregate for trade/competition violation?
$30,000
27
How long does an employee or employee’s family have to file a workers comp claim after the injury or death?
2 years
28
What is the minimum requirement for medical payments coverage?
$5,000
29
How many hours of education are required for property/casualty?
50 hours
30
What is the fine for an individual who violates a cease and desist order from commissioner?
$500 per violation and LIJ
31
What is the fine for violating an emergency cease and desist order?
$25,000 per violation and restitution
32
Who is the commissioner appointed by?
governor
33
When must legal action against a producer be reported to commissioner?
30 days
34
What is the surplus lines broker tax?
3% net sales
35
What date must insurers file their annual report by?
March 1st
36
How many hours of education are required for life insurance?
50 hours
37
What is the per violation fine for an individual who has used unfair trade practice or competition?
$3,000
38
How long does an employer have to notify the division and insurer after an injury to an employee?
10 days
39
How long do you have to respond to an inquiry about market conduct or finances?
10 days
40
Who do producers represent?
the insurer
41
What percentage must admitted insurers be in excess of before someone can purchase surplus lines?
10%
42
How long does the insurer have to pay a property/casualty claim that has not been disputed?
60 days
43
What is the penalty for violating HIV test disclosure provisions?
$500-$5,000 or 6-24 months
44
How long do you have to respond to other inquiries?
20 days
45
How much notice must an insurer give and insured for cancellation of a homeowners policy?
30 days
46
How much coverage is required for a TNC when a driver is engaged in a ride?
1 mil/200/400
47
What are the minimum financial responsibility liability limits?
25/50/15
48
What are the minimum coverage limits for uninsured motorists?
25/50
49
How many hours are required for both life and accident and health combined?
100 hours
50
What is the fine per violation for an insurer who has knowingly committed unfair trade or competition?
$30,000
51
How long does the insurer have to remit unearned premiums to the insured?
45 days
52
When a producers moves to another state how long do they have to file change of address?
30 days
53
How may days can a auto policy be cancelled for any reason?
59 days
54
What is the fine for an insurer who violates cease and desist order from commissioner?
$10,000 per violation and LIJ
55
When selling for a fraternal benefit society when is a license not required?
$50,000 or less or 25 or fewer individuals sold to