COLORADO LIFE HEALTH INSURANCE

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COLORADO LIFE & HEALTH INSURANCE

FINAL EXAM NEWEST 2025 ACTUAL EXAM

COMPLETE 200 QUESTIONS AND CORRECT

DETAILED ANSWERS (VERIFIED ANSWERS)

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Which two screenings must be covered under Colorado group health insurance plans? - ANSWER-breast cancer and prostate screenings

All group and individual health plans issued in Colorado that provide coverage for hospital, surgical, or medical expenses must cover diabetes, including equipment, supplies, and, when administered by a professional diabetes expert, outpatient self- management training and education. This includes how much $ for a 30-day insulin supply? - ANSWER-$100

Regarding settlement options, both principal and interest received as a result of a settlement option are taxed as ordinary income to the beneficiary (true or false)? - ANSWER-FALSE

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Which of the following term life insurance policies would have the highest 1st-year annual premium, all other factors being equal?5-year 10-year 15-year - ANSWER-15-year policy

All of the following are true of a substandard risk, except:

• The coverage could be reduced for a period of time.
• The premium would be discounted.
• The insured may be rated as older than their actual age.
• The insured may have a flat additional premium added to

their base premium. - ANSWER-D. The premium would be discounted.

A buy-sell agreement can be used in all of the following

businesses, except:

A - A partnership B - Large publicly held corporations C - A sole proprietorship D - Closed corporation stockholders - ANSWER-B - Publicly- held corporations 2 / 4

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At least how many days in advance must an insurer give an insured notice of non-renewal for a health plan?90 days 180 days 60 days 30 days - ANSWER-180 days

Which of the following individuals would not qualify as having an insurable interest in the insured?

• A stepchild of the insured
• An individual who has an interest that arises only from the

death of the individual insured

• An individuals who is a beneficiary under a designated

beneficiary agreement

• A trustee of a trust - ANSWER-B) An individual who has an

interest that arises only from the death of the individual insured

If the policyowner specifies the time over which all settlement option installments are to be paid, he/she has chosen which Settlement Option? 3 / 4

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Options: Extended Term, Fixed Period, Fixed Amount, or Life

with Period Certain? - ANSWER-Fixed Period

Who receives the endowment value of a whole life policy?> producer, policyowner, beneficiary, or insurance company? - ANSWER-The policyowner

All health policies issued in Colorado must provide coverage for preventive breast cancer screenings with mammography on an

annual basis for: - ANSWER-Individuals with a family history

of breast cancer, individuals over 40, and individuals with an increased lifetime risk of breast cancer.

When is commission disclosure required for health policies issued in Colorado? - ANSWER-Before the service is provided.

Which Medicare Supplement policies have Core Benefits? - ANSWER-Plans A through N

An insured has a $175,000 permanent life insurance policy and is having difficulty keeping up with the premium payments.Which Nonforfeiture Option would allow him to forego the

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