Colorado Examination Content Outlines
Insurance Supplement Effective Date: January 1, 2012
4. Consideration
5. Owner’s rights
LIFE – GENERAL KNOWLEDGE
6. Beneficiary designations
CONTENT OUTLINE
a. Primary and contingent
Product Knowledge, Terms, and Concepts b. Revocable and irrevocable
c. Changes
(50 scoreable questions plus 10 pretest questions)
d. Common disaster
I. TYPES OF POLICIES.......................................................... 12 e. Minor beneficiaries
A. Traditional whole life products 7. Premium Payment
1. Ordinary (straight) life a. Modes
2. Limited-pay and single-premium life b. Grace period
3. Adjustable life c. Automatic premium loan
B. Interest/market-sensitive life products d. Level or flexible
1. Universal life 8. Reinstatement
2. Variable whole life 9. Policy loans, withdrawals, partial surrenders
3. Variable universal life 10. Non-forfeiture options
4. Interest-sensitive whole life 11. Dividends and dividend options
5. Equity-indexed life 12. Incontestability
C. Term life 13. Assignments
1. Types 14. Suicide
a. Level 15. Misstatement of age and gender
b. Decreasing 16. Settlement options
c. Return of premium 17. Accelerated death benefits
d. Annually renewable C. Policy exclusions
e. Increasing term
III. COMPLETING THE APPLICATION, UNDERWRITING, AND
2. Special features
DELIVERING THE POLICY ...............................................11
a. Renewable A. Completing the application
b. Convertible 1. Required signatures
D. Annuities 2. Changes in the application
1. Single and flexible premium 3. Consequences of incomplete applications
2. Immediate and deferred 4. Warranties and representations
3. Fixed and variable 5. Collecting the initial premium and issuing the receipt
4. Indexed 6. Replacement
E. Combination plans and variations 7. Disclosures at point of sale (e.g., HIPAA, HIV consent)
1. Joint life 8. USA PATRIOT Act/anti-money laundering
2. Survivorship life (second to die) B. Underwriting
II. POLICY RIDERS, PROVISIONS, OPTIONS, AND 1. Insurable interest
EXCLUSIONS .................................................................... 19 2. Medical information and consumer reports
A. Policy riders 3. Fair Credit Reporting Act
1. Waiver of premium and waiver of premium with disability 4. Risk classification
income 5. Stranger-originated life insurance (STOLI)
2. Guaranteed insurability 6. Investor-originated life insurance (IOLI)
3. Payor benefit C. Delivering the policy
4. Accidental death and/or accidental death and 1. When coverage begins
dismemberment 2. Explaining the policy and its provisions, riders,
5. Term riders exclusions, and ratings to the client
6. Other insureds (e.g., spouse, children, nonfamily)
IV. TAXES, RETIREMENT, AND OTHER INSURANCE
7. Long term care
CONCEPTS........................................................................8
8. Return of premium A. Third-party ownership
B. Policy provisions and options B. Group life insurance
1. Entire contract 1. Conversion privilege
2. Insuring clause 2. Contributory vs. noncontributory
3. Free look C. Retirement plans
COLORADO Insurance - Examination Content Outlines Effective Date: January 1, 2012
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1. Tax-qualified plans Ref: 10-3-1104(1)(g)
2. Nonqualified plans 7. Unfair claims practices
D. Life insurance needs analysis/suitability Ref: 10-3-1104(1)(h); Reg. 5-1-14 (P&C only)
1. Personal insurance needs 8. Colorado Fraud Statute
2. Business insurance needs Ref: 10-1-128; 10-1-129
a. Key person
E. Social Security benefits and taxes II. COLORADO STATUTES, RULES, AND REGULATIONS
F. Tax treatment of insurance premiums, proceeds, and PERTINENT TO LIFE INSURANCE ONLY....................10
A. Policy replacement .................................................(3-4)
dividends
1. Replacement forms
1. Individual life
Ref: Reg. 4-1-4
2. Group life
2. Disclosure
3. Modified Endowment Contracts (MECs)
Ref: 10-7-302; Reg. 4-1-4
3. Record keeping of replacements
LIFE Ref: Reg. 4-1-4
COLORADO SPECIFIC B. Group Life ................................................................(2-3)
CONTENT OUTLINE Ref: 10-7-106; 10-7-201 through 207
State Statutes, Rules and Regulations
C. Suicide .....................................................................(0-1)
(30 scoreable questions plus 5 pretest questions) Ref: 10-7-109
D. Free Look period .....................................................(0-1)
I. COLORADO STATUTES, RULES, AND REGULATIONS
COMMON TO LIFE, SICKNESS AND ACCIDENT, Ref: 10-7-302; Reg. 4-1-4
PROPERTY (FIRE), AND CASUALTY INSURANCE.... 20 E. Interest on Proceeds...............................................(0-1)
A. Insurance Commissioner....................................... 4 Ref: 10-7-112
1. Power and duties F. Sales and Marketing of Life and Annuities...........(2-3)
Ref: 10-1-104; 10-1-105; 10-1-108; 10-1-109; 10-1-201 Ref: Reg. 1-2-18; 4-1-2; 4-1-11; 4-1-12
through 204; 10-3-105; 10-3-208; 10-3-1106 1. Unfair trade practices
2. Hearings and penalties 2. Suitability requirements
Ref: 10-2-801; 10-2-804; 10-3-1104; 10-3-1107 through 3. Disclosures
1109; 10-3-1111 G. Insurable Interest ....................................................(0-1)
3. License suspension and revocation Ref: 10-7-701 through 710
Ref: 10-2-401; 10-2-801 through 804; 10-3-904.6;
10-3-904.7; 10-3-1108 ACCIDENT & HEALTH – GENERAL KNOWLEDGE
B. Licensing and producers’ legal responsibility .... 8 CONTENT OUTLINE
1. Persons required to be licensed
Product Knowledge, Terms, and Concepts
Ref: 10-2-103(6); 10-2-105; 10-2-201; 10-2-401;
10-2-404; 10-2-407; 10-2-408; 10-2-412; (50 scoreable questions plus 10 pretest questions)
10-2-416; 10-2-701; 10-2-702; 10-2-801; Reg. 1-2-10
I. TYPES OF POLICIES ..........................................................14
2. Payment and acceptance of commissions/fees
A. Disability income
Ref: 10-2-401; 10-2-702; Reg. 1-2-9
1. Individual disability income policy
3. Fiduciary/commingling
2. Business overhead expense policy
Ref: 10-2-704; Reg. 1-2-1
3. Business disability buyout policy
4. Continuing education
4. Group disability income policy
Ref: 10-2-301; Reg. 1-2-4
5. Key employee/partner policies
5. Unauthorized entities
B. Accidental death and dismemberment
Ref: 10-3-903 through 10-3-904.5, 10-3- 906, 10-3-908
C. Medical expense insurance
C. Unfair competition and deceptive practices ........ 8
1. Basic hospital, medical, and surgical policies
1. Coercion
2. Major medical policies
Ref: 10-3-1104(1)(d); 10-3-1105
3. Health Maintenance Organizations (HMOs)
2. Misrepresentation
4. Preferred Provider Organizations (PPOs)
Ref: 10-3-1104(1)(a); 10-1-128
5. Point of Service (POS) plans
3. Unfair discrimination
6. Flexible Spending Accounts (FSAs)
Ref: 10-3-1104(1)(f); 10-3-1104.5
7. Health Reimbursement Accounts (HRAs)
4. Controlled business
8. High Deductible Health Plans (HDHPs) and related
Ref: 10-2-401(4)
Health Savings Accounts (HSAs)
5. Defamation
9. Stop loss
Ref: 10-1-116; 10-3-1104(1)(c)
D. Medicare supplement policies
6. Rebates
E. Group insurance
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1. Group conversion 4. Conditionally renewable
2. Differences between individual and group contracts 5. Optionally renewable
3. General concepts 6. Period of time for renewal
4. COBRA
III. SOCIAL INSURANCE........................................................3
5. HIPAA
A. Medicare
F. Long Term Care (LTC)
1. Primary, secondary payor
1. Individual LTC contracts
2. Medicare Parts A, B, C, D
2. Group/voluntary LTC contracts
B. Medicaid
G. Limited Benefit Plans
C. Social Security benefits
1. Cancer (or specified diseases) plans
2. Critical illness plans IV. OTHER INSURANCE CONCEPTS ...................................4
3. Worksite (employer-sponsored) plans A. Total, partial, and residual disability
4. Hospital indemnity plans B. Owner’s rights
5. Dental C. Dependent children benefits
6. Vision D. Primary and contingent beneficiaries
E. Modes of premium payments (annual, semiannual, etc.)
II. POLICY PROVISIONS, CLAUSES, AND RIDERS............ 20
F. Nonduplication and coordination of benefits (e.g.,
A. Mandatory provisions
primary vs. excess)
1. Entire contract
G. Occupational vs. non-occupational
2. Time limit on certain defenses (incontestable)
H. Tax treatment of premiums and proceeds of insurance
3. Grace period
contracts (e.g., disability income and medical
4. Reinstatement
expenses, etc.)
5. Notice of claim
I. Managed care
6. Claim forms
J. Workers Compensation
7. Proof of loss
K. Subrogation
8. Time of payment of claims
9. Payment of claims V. FIELD UNDERWRITING PROCEDURES ..........................9
10. Physical examination and autopsy A. Completing application and obtaining necessary
11. Legal actions signatures
12. Change of beneficiary B. Explaining sources of insurability information (e.g., MIB
13. Misstatement of age Report, Fair Credit Reporting Act, etc.)
B. Optional provisions C. Initial premium payment and receipt and consequences
C. Other provisions and clauses of the receipt (e.g., medical examination, etc.)
1. Insuring clause D. Submitting application (and initial premium if collected)
2. Free look to company for underwriting
3. Consideration clause E. Ensuring delivery of policy and related documents to
4. Probationary period client
5. Elimination period F. Explaining policy and its provisions, riders, exclusions,
6. Waiver of premium and ratings to clients
7. Exclusions G. Replacement
8. Preexisting conditions H. Contract law
9. Recurrent disability 1. Elements of a contract
10. Coinsurance 2. Insurable interest
11. Deductibles 3. Warranties and representations
12. Eligible expenses 4. Unique aspects of the health contract
13. Copayments a. Conditional
14. Pre-authorizations and prior approval requirements b. Unilateral
15. Usual, reasonable, and customary (URC) charges c. Adhesion
16. Lifetime, annual, or per cause maximum benefit limits
D. Riders ACCIDENT & HEALTH
1. Impairment/exclusions COLORADO SPECIFIC
2. Guaranteed insurability CONTENT OUTLINE
3. Multiple indemnity (double, triple)
State Statutes, Rules and Regulations
E. Rights of renewability
1. Noncancellable (30 scoreable questions plus 6 pretest questions)
2. Cancellable
3. Guaranteed renewable
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I. COLORADO STATUTES, RULES, AND REGULATIONS 5. Diabetes
COMMON TO LIFE, SICKNESS AND ACCIDENT, Ref: 10-16-104(13)
PROPERTY (FIRE), AND CASUALTY INSURANCE.... 19 6. Hospice/home health care offering
A. Insurance Commissioner....................................... 3 Ref: 10-16-104(8); Reg. 4-2-8
1. Power and duties 7. Guaranteed renewability
Ref: 10-1-104; 10-1-108; 10-1-109; 10-1-201 through Ref: 10-16-201.5
204; 10-3-105; 10-3-208;10-3-1106 8. Prompt pay
2. Hearings and penalties Ref: 10-16-103.5; 10-16-106.5
Ref: 10-2-801; 10-2-804; 10-3-1104; 10-3-1107; 10-3- 9. Utilization review
1111; 10-3-1108; 10-3-1109 Ref: 10-16-113, 10-16-113.5; Reg. 4-2-17; 4-2-21
3. License suspension and revocation 10. Mandated benefits
Ref: 10-2-801; 10-2-803; 10-3-1108 Ref: 10-16-104; Reg. 4-6-5; 4-2-28; 4-2-30
B. Licensing and producers’ legal responsibility .... 8 11. Commission disclosure
1. Persons required to be licensed Ref: 10-16-133; Reg. 1-2-17
Ref: 10-2-103(6); 10-2-105; 10-2-201; 10-2-401; B. Individual coverage.................................................2
10-2-404; 10-2-407; 10-2-408; 10-2-412 1. Required provisions
10-2-416; 10-2-701; Reg. 1-2-10 Ref: 10-16-202
2. Payment and acceptance of commissions/fees 2. Replacement
Ref: 10-2-401; 10-2-702; Reg. 1-2-9 Ref: 10-16-202; Reg.4-2-1
3. Fiduciary/commingling 3. Pre-existing condition limitations
Ref: 10-2-704; Reg. 1-2-1 Ref: 10-16-118(1)(a)
4. Continuing education 4. Sale to self-employed individuals
Ref: 10-2-301; Reg. 1-2-4 Ref: 10-16-102(6); 10-16-105; Reg. 4-2-19; 4-6-5
5. Unauthorized entities C. Group coverage.......................................................2
Ref: 10-3-903 through 904.5; 10-3-906; 10-3-908 1. Continuation
C. Unfair competition and deceptive practices ........ 8 Ref: 10-16-108(1)(b); 10-16-108(1)(d)(XVII); 10-16-
1. Coercion 108(1)(e); 10-16-108(1)(f)
Ref: 10-3-1104(1)(d); 10-3-1105 2. Conversion
2. Misrepresentation Ref: 10-16-108(1)(a); 10-16-108(1)(c); 10-16-108(1)(d)
Ref: 10-3-1104(1)(a); 10-1-128 3. Maternity
3. Unfair discrimination Ref: 10-16-104(3)
Ref: 10-3-1104(1)(f); 10-3-1104.5 4. Mental health
4. Controlled business Ref: 10-16-104(5); 10-16-104 (5.5); Reg. 4-6-12
Ref: 10-2-401(4) 5. Preexisting condition limitation
5. Defamation Ref: 10-16-118(1)(a)
Ref: 10-1-116; 10-3-1104(1)(c) 6. Leasing companies
6. Rebates Ref: 10-16-214(5); Reg. 4-6-10
Ref: 10-3-1104(1)(g) 7. Late enrollee
7. Unfair claims practices Ref: 10-16-102(26)
Ref: 10-3-1104(1)(h); 10-16-214 D. Small group coverage.............................................(2-3)
Reg. 5-1-14 (P&C only) 1. Definitions
8. Colorado Fraud Statute Ref: 10-16-102, 10-16-102(6), 10-16-102(31), 10-16-
Ref: 10-1-128; 10-1-129; Reg. 6-5-1 102(40), 10-16-102(41), 10-16-102(42); 10-16-105.2;
II. COLORADO STATUTES, RULES, AND REGULATIONS Reg. 4-6-8
PERTINENT TO SICKNESS AND ACCIDENT INSURANCE a. small employer
ONLY ............................................................................ 11 b. eligible employee
A. Common requirements for Sickness and c. business group of one
Accident................................................................. 2 2. Guaranteed issue
1. Portability (Credit for preexisting conditions) Ref: 10-16-105(7.3)(a); 10-16-105(7.3)(c)
Ref: 10-16-102(13.7); 10-16-105; 10-16-118(1)(b); 10-16- 3. Underwriting restrictions
214 Ref: 10-16-105(7)
2. Maternity/newborn coverage 4. Rating factors
Ref: 10-16-104(1); 10-16-104(3) Ref: 10-16-105(8)(c); 10-16-105(8)(e); 10-16-105(13-15);
3. Complications of pregnancy 10-16-105(8.5);Reg. 4-6-7
Ref: 10-16-104(2) 5. Participation requirements
4. Mammography/prostate screenings Ref: 10-16-102(40)(a);10-16-105(7.4); Reg. 4-6-8
Ref: 10-16-104(10); 10-16-104(18) 6. Basic and standard benefit health plans
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Ref: 10-16-102(4); 10-16-102(43); 10-16-105(7.2); Reg. F. Others
4-6-5 1. Earthquake
7. Wellness programs 2. Mobile Homes
Ref: 10-16-136 3. Watercraft
E. Fair marketing standards....................................... (0-1) 4. Farm Owners
Ref: 10-16-108.5; Reg. 4-2-20 5. Crop/hail
F. Specified products ................................................. (1-2) 6. Windstorm
1. Medicare Supplement
II. INSURANCE TERMS AND RELATED CONCEPTS..........14
Ref: 10-18-101(4); 10-18-103; 10-18-106(1); 10-18-
A. Insurance
106(2); 10-18-107; 10-18-108; 10-18-109; Reg. 4-3-1
1. Law of Large Numbers
2. Long Term Care
B. Insurable interest
Ref: 10-19-101 through 115; Reg. 4-4-1, 4-4-4
C. Risk
3. Basic and Standard Plans
1. Pure vs. Speculative Risk
Ref: 10-16-105 (7.2)(b); Reg. 4-6-5 Section (4)(A
D. Hazard
through L) and Policy Requirements section
1. Moral
4. Benefit Description Plan
2. Morale
Ref: 10-16-105; 10-16-108.5(11); Reg. 4-2-20
3. Physical
G. CoverColorado........................................................ (0-1)
E. Peril
Ref: 10-3-1108; 10-8-501, 10-8-513, 10-8-516; 10-16-105.5;
F. Loss
Reg. 4-6-3
1. Direct
H. Commission Disclosure......................................... (0-1)
2. Indirect
Ref: 10-16-133; Reg. 1-2-17
G. Loss Valuation
1. Actual cash value
2. Replacement cost
PROPERTY – GENERAL KNOWLEDGE 3. Market value
CONTENT OUTLINE 4. Stated value
Product Knowledge, Terms, and Concepts 5. Salvage value
H. Proximate cause
(50 scoreable questions plus 10 pretest questions) I. Deductible
I. TYPES OF POLICIES.......................................................... 25 J. Indemnity
A. Homeowners K. Limits of liability
1. HO-2 L. Coinsurance/Insurance to value
2. HO-3 M. Occurrence
3. HO-4 N. Cancellation
4. HO-5 O. Nonrenewal
5. HO-6 P. Vacancy and unoccupancy
6. HO-8 Q. Liability
B. Dwelling policies 1. Absolute
1. DP-1 2. Strict
2. DP-2 3. Vicarious
3. DP-3 R. Negligence
C. Commercial lines S. Binder
1. Commercial Package Policy (CPP) T. Endorsements
2. Commercial property U. Medical Payments
a. Commercial building and business personal property V. Blanket vs. Specific
form W. Burglary, Robbery, Theft, and Mysterious
b. Causes of loss forms Disappearance
c. Business income III. POLICY PROVISIONS AND CONTRACT LAW ...............11
d. Extra expense A. Declarations
3. Business Owners Policy (BOP) B. Insuring agreement
4. Builders Risk C. Conditions
D. Inland marine D. Exclusions
1. Personal Articles floaters E. Definition of the insured
2. Commercial Property floaters F. Duties of the insured
3. Nationwide Definition G. Obligations of the insurance company
E. National Flood Insurance Program H. Mortgagee rights
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I. Proof of loss 6. Rebates
J. Notice of claim Ref: 10-3-1104(1)(g)
K. Appraisal 7. Unfair claims practices
L. Other Insurance Provision Ref: 10-3-1104(1)(h); Reg. 5-1-14
M. Assignment 8. Colorado Fraud Statute
N. Subrogation Ref: 10-1-128; Reg. 6-5-1
O. Elements of a contract
P. Warranties, representations, and concealment II. COLORADO STATUTES, RULES, AND, REGULATIONS
Q. Sources of underwriting information COMMON TO PROPERTY AND CASUALTY INSURANCE
ONLY.......................................................................................4
R. Fair Credit Reporting Act
S. Privacy Protection (Gramm Leach Bliley)
T. Policy Application A. Rate regulations ......................................................1
U. Terrorism Risk Insurance Act (TRIA) Ref: 10-4-401; 10-4-403; 10-4-416
1. Misquotes
B. Summary disclosure form......................................1
PROPERTY-COLORADO SPECIFIC
Ref: 10-4-111; 10-4-636; Reg. 5-2-16
CONTENT OUTLINE
C. Commercial policy requirements ..........................1
State Statutes, Rules and Regulations Ref: 10-4-109.5; 10-4-109.7; 10-4-110; 10-4-110.5; 10-4-
(25 scoreable questions plus 5 pretest questions) 1401 through 10-4-1404; Reg. 5-1-13
D. Use of Credit Information .......................................1
I. COLORADO STATUTES, RULES, AND REGULATIONS Ref: 10-4-116
COMMON TO LIFE, SICKNESS AND ACCIDENT,
PROPERTY (FIRE), AND CASUALTY INSURANCE.... 19 III. COLORADO STATUTES, RULES, AND REGULATIONS
A. Insurance Commissioner....................................... 3 PERTINENT TO PROPERTY INSURANCE
1. Power and duties ONLY .............................................................................2
Ref: 10-1-104; 10-1-108; 10-1-109; 10-1-201 through A. Fraudulent Claims and Arson Information
204; 10-3-105; 10-3-208; 10-3-1106; 10-4-401 Reporting Act
2. Hearings and penalties Ref: 10-4-1001 through 1008; 10-1-127; Reg. 6-5-1
Ref: 10-2-801; 10-2-804; 10-3-1104; 10-3-1107; 10-3- B. Insurance and loans secured by real property
1108; 10-3-1109; 10-3-1111 Ref: 10-4-114
3. License suspension and revocation C. Homeowners Cancellation and Nonrenewal
Ref: 10-2-108; 10-2-801; 10-2-803 Ref: 10-4-110.7
B. Licensing and producers’ legal responsibility .... 8 D. Availability of Fire Insurance
1. Persons required to be licensed Ref: 10-4-110.9; Reg. 5-1-1
Ref: 10-2-103(6); 10-2-105; 10-2-201; 10-2-401; 7
10-2-404; 10-2-407; 10-2-408; 10-2-412
10-2-416; 10-2-502; 10-2-701; Reg. 1-2-10 CASUALTY – GENERAL KNOWLEDGE
2. Surplus Lines CONTENT OUTLINE
Ref: 10-2-408; 10-5-103; 10-5-111; Reg. 2-4-1
3. Payment and acceptance of commissions/fees
Product Knowledge, Terms, and Concepts
Ref: 10-2-702; Reg. 1-2-9 (50 scoreable questions plus 10 pretest questions)
4. Fiduciary/commingling
Ref: 10-2-704; Reg. 1-2-1 I. TYPES OF POLICIES, BONDS, AND
RELATED TERMS .............................................................23
5. Continuing education
A. Commercial general liability
Ref: 10-2-301; Reg. 1-2-4
1. Exposures
6. Unauthorized entities
a. Premises and Operations
Ref: 10-3-903 through 10-3-904.5; 10-3-906; 10-3-908
b. Products and Completed Operations
C. Unfair competition and deceptive practices ........ 8
2. Coverage
1. Coercion
a. Coverage A: Bodily Injury and Property Damage
Ref: 10-3-1104(1)(d); 10-3-1105
Liability
2. Misrepresentation
(1) Occurrence
Ref: 10-3-1104(1)(a); 10-1-128
(2) Claims made
3. Unfair discrimination
(a) Extended Reporting Periods: Basic and
Ref: 10-3-1104(1)(f); 10-3-1104.5
Supplemental
4. Controlled business
(b) Retroactive Date
Ref: 10-2-401(4)
b. Coverage B: Personal Injury and Advertising Injury
5. Defamation
c. Coverage C: Medical Payments
Ref: 10-1-116; 10-3-1104(1)(c)
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d. Supplemental Payments 1. Errors and Omissions
e. Who is an insured 2. Medical Malpractice
f. Limits 3. Directors and Officers (D&O)
g. Damage to Property of Others 4. Employment Practices Liability (EPLI)
(1) Per occurrence G. Umbrella/Excess Liability
(2) Annual Aggregate
II. INSURANCE TERMS AND RELATED CONCEPTS..........15
B. Automobile: personal auto and business auto
A. Risk
1. Liability
B. Hazards
a. Bodily Injury
1. Moral
b. Property Damage
2. Morale
c. Split Limits
3. Physical
d. Combined Single Limit
C. Indemnity
2. Medical Payments
D. Insurable interest
3. Physical Damage (collision; other than collision;
E. Actual cash value
specified perils)
F. Negligence
4. Uninsured motorists
G. Liability
5. Underinsured motorists
H. Occurrence
6. Who is an insured
I. Binders
7. Types of Auto
J. Warranties
a. Owned
K. Representations
b. Non-owned
L. Concealment
c. Hired
M. Deposit Premium/Audit
d. Temporary Substitute
N. Certificate of Insurance
e. Newly Acquired Autos
O. Law of Large Numbers
f. Transportation Expense and Rental Reimbursement
P. Pure vs. Speculative Risk
Expense
Q. Endorsements
8. Garage Coverage Form, including Garagekeepers
R. Damages
Insurance
1. Compensatory
9. Exclusions
a. General
10. Individual Insured and Drive Other Car (DOC)
b. Special
C. Workers Compensation Insurance, Employers Liability
2. Punitive
Insurance, and Related Issues
S. Compliance with provisions of Fair Credit Reporting
(This section does not deal with specifics of state law, which are
Act
addressed elsewhere in this outline.)
1. Standard policy concepts III. POLICY PROVISIONS.......................................................12
a. Who is an employee/employer A. Declarations
b. Compensation B. Insuring agreement
(1) Loss of wages C. Conditions
(2) Medical D. Exclusions and Limitations
(3) Disability E. Definition of the insured
(4) Vocational Rehabilitation F. Duties of the insured after a loss
(5) Death/Survivor G. Cancellation and nonrenewal provisions
2. Work-related vs. non-work-related H. Additional (supplementary) payments
3. Other states’ insurance I. Proof of loss
4. Employers Liability J. Notice of claim
5. Exclusive remedy K. Arbitration
6. Premium Determination L. Other insurance
D. Crime M. Subrogation
1. Employee Dishonesty N. Loss settlement provisions including consent to settle
2. Theft a loss
3. Robbery O. Terrorism Risk Insurance Act (TRIA)
4. Burglary
5. Forgery and Alteration CASUALTY
E. Bonds COLORADO SPECIFIC
1. Surety CONTENT OUTLINE
2. Fidelity
State Statutes, Rules and Regulations
F. Professional liability
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(31 scoreable questions plus 5 pretest questions) D. Use of Credit Information .......................................1
Ref: 10-4-116
I. COLORADO STATUTES, RULES, AND REGULATIONS
COMMON TO LIFE, SICKNESS AND ACCIDENT, III. COLORADO STATUTES, RULES, AND REGULATIONS
PROPERTY (FIRE), AND CASUALTY INSURANCE.... 19 PERTINENT TO CASUALTY INSURANCE ONLY ........8
A. Insurance Commissioner....................................... 3
A. Workers compensation ..........................................(2-3)
1. Power and duties
1. Who must be covered
Ref: 10-1-104; 10-1-108; 10-1-109; 10-1-201 Ref: 8-40-302; 8-40-102, 8-40-202, 8-40-203; 8-41-202
through 204; 10-3-105; 10-3- 208; 10-3-1106
2. Sources of coverages
2. Hearings and penalties
Ref: 8-44-101, 8-44-204, 8-44-205
Ref: 10-2-801; 10-2-804; 10-3-1104; 10-3-1107; 10-3- 3. Benefits
1108; 10-3-1109; 10-3-1111
Ref: 8-42-102; 8-42-103; 8-42-106; 8-42-111; 8-42-114,
3. License suspension and revocation
8-42-115; 8-42-123
Ref: 10-2-801; 10-2-803 4. Claims procedures
B. Licensing and producers’ legal responsibility .... 8
Ref: 8-43-103
1. Persons required to be licensed
B. Automobile insurance ............................................(4-5)
Ref: 10-2-103(6); 10-2-105; 10-2-201; 10-2-401; 1. Cancellation/nonrenewal
10-2-404; 10-2-407; 10-2-408; 10-2-412;
Ref: 10-4-602, 10-4-603, 10-4-604; 10-4-626 through 629;
10-2-416; 10-2-701; Reg. 1-2-10
Reg. 5-2-12
2. Surplus Lines 2. Excluded drivers
Ref: 10-2-408; 10-5-103; 10-5-111; Reg. 2-4-1
Ref: 10-4-629; 10-4-630; Reg. 5-2-2
3. Payment and acceptance of commissions/fees
3. Uninsured motorist/Underinsured motorist
Ref: 10-2-702; Reg. 1-2-9 Ref: 10-4-609; 10-4-620; 42-7-103(2), (7); 10-4-610
4. Fiduciary/commingling
4. Financial responsibility
Ref: 10-2-704; Reg. 1-2-1
Ref: 10-4-619; 10-4-620; 42-7-103(2);
5. Continuing education 42-7-301
Ref: 10-2-301; Reg. 1-2-4
5. Required Coverages
6. Unauthorized entities
Ref: 10-4-619 through 622
Ref: 10-3-903 through 10-3-904.5; 10-3-906; 10-3-908 6. Medical Payment Coverage
C. Unfair competition and deceptive practices ........ 8
Ref: 10-4-635, 10-4-636, 10-4-641; Reg. 5-2-16
1. Coercion
C. Colorado Auto Insurance Plan...............................(0-1)
Ref: 10-3-1104(1)(d); 10-3-1105 Ref: 10-4-412
2. Misrepresentation
Ref: 10-3-1104(1)(a); 10-1-128
3. Unfair discrimination
Ref: 10-3-1104(1)(f); 10-3-1104.5 PERSONAL LINES – GENERAL KNOWLEDGE
4. Controlled business CONTENT OUTLINE
Ref: 10-2-401(4) Product Knowledge, Terms, and Concepts
5. Defamation
Ref: 10-1-116; 10-3-1104(1)(c) (75 scoreable questions plus 11 pretest questions)
6. Rebates I. TYPES OF PROPERTY POLICIES .....................................10
Ref: 10-3-1104(1)(g) A. Homeowners
7. Unfair claims practices 1. HO-2
Ref: 10-3-1104(1)(h); Reg. 5-1-14 2. HO-3
8. Colorado Fraud Statute 3. HO-4
Ref: 10-1-128; Reg. 6-5-1 4. HO-5
II. COLORADO STATUTES, RULES, AND, REGULATIONS 5. HO-6
COMMON TO PROPERTY AND CASUALTY INSURANCE 6. HO-8
ONLY .............................................................................. 4 B. Dwelling policies
A. Rate regulations...................................................... 1 1. DP-1
Ref: 10-4-401; 10-4-403; 10-4-416 2. DP-2
1. Misquotes 3. DP-3
B. Summary disclosure form ..................................... 1 C. Inland marine
Ref: 10-4-111; 10-4-636; Reg. 5-2-16 1. Personal Articles floaters
C. Commercial policy requirements .......................... 1 2. Nationwide Definition
Ref: 10-4-109.7; 10-4-110; 10-4-110.4; 10-4-110.5; 10-4- D. National Flood Insurance Program
1401 through 10-4-1404; 13-20-808; Reg. 5-1-13 E. Others
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1. Earthquake P. Vacancy and unoccupancy
2. Mobile Homes Q. Liability
3. Watercraft 1. Absolute
4. Crop/hail 2. Strict
5. Windstorm 3. Vicarious
II. TYPES OF CASUALTY POLICIES .................................... 13 R. Negligence
A. Automobile: personal auto S. Binder
1. Liability T. Endorsements
a. Bodily Injury U. Medical Payments
b. Property Damage V. Blanket vs. Specific
c. Split Limits W. Burglary, Robbery, Theft, and Mysterious
d. Combined Single Limit Disappearance
2. Medical Payments X. Warranties
3. Physical Damage (collision; other than collision; Y. Representations
specified perils) Z. Concealment
4. Uninsured motorists AA. Deposit Premium/Audit
5. Underinsured motorists BB. Certificate of Insurance
6. Who is an insured CC. Damages
7. Types of Auto 1. Compensatory
a. Owned a. General
b. Non-owned b. Special
c. Hired 2. Punitive
d. Temporary Substitute DD. Compliance with Provisions of Fail Credit Reporting
e. Newly Acquired Autos Act
f. Transportation Expense and Rental Reimbursement
IV. PROPERTY AND CASUALTY POLICY PROVISIONS AND
Expense
CONTRACT LAW ..............................................................24
8. Exclusions
A. Declarations
B. Umbrella/Excess liability
B. Insuring agreement
III. PROPERTY AND CASUALTY INSURANCE TERMS AND C. Conditions
RELATED CONCEPTS ..................................................... 28 D. Exclusions
A. Insurance E. Definition of the insured
1. Law of Large Numbers F. Duties of the insured
B. Insurable interest G. Obligations of the insurance company
C. Risk H. Mortgagee rights
1. Pure vs. Speculative Risk I. Proof of loss
D. Hazard J. Notice of claim
1. Moral K. Appraisal
2. Morale L. Other Insurance Provision
3. Physical M. Assignment
E. Peril N. Subrogation
F. Loss O. Elements of a contract
1. Direct P. Warranties, representations, and concealment
2. Indirect Q. Sources of underwriting information
G. Loss Valuation R. Fair Credit Reporting Act
1. Actual cash value S. Privacy Protection (Gramm Leach Bliley)
2. Replacement cost T. Policy Application
3. Market value U. Terrorism Risk Insurance Act (TRIA)
4. Stated value V. Cancellation and nonrenewal provisions
5. Salvage value W. Additional (supplementary) payments
H. Proximate cause X. Arbitration
I. Deductible
J. Indemnity PERSONAL LINES-COLORADO SPECIFIC
K. Limits of liability CONTENT OUTLINE
L. Coinsurance/Insurance to value State Laws, Rules and Regulations
M. Occurrence
(29 questions plus 4 pretest questions)
N. Cancellation
O. Nonrenewal
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I. COLORADO STATUTES, RULES, AND REGULATIONS III. COLORADO STATUTES, RULES, AND REGULATIONS
COMMON TO LIFE, SICKNESS AND ACCIDENT, PERTINENT TO PROPERTY INSURANCE
PROPERTY (FIRE), CASUALTY, AND PERSONAL LINES ONLY .............................................................................2
INSURANCE................................................................... 19
A. Insurance Commissioner....................................... (1-3)
A. Fraudulent Claims and Arson Information
1. Power and duties
Ref: 10-1-104; 10-1-108; 10-1-109; 10-1-201 through Reporting Act
Ref: 10-4-1001 through 1008; 10-1-128; Reg. 6-5-1
204; 10-3-105; 10-3-202 through 208; 10-3-1106
B. Insurance and loans secured by real property
2. Hearings and penalties
Ref: 10-2-801, 10-2-804; 10-3-1104; 10-3-1107; Ref: 10-4-114
C. Homeowners Cancellation and Nonrenewal
10-3-1111; 10-3-1108; 10-3-1109
Ref: 10-4-110.7
3. License suspension and revocation
Ref: 10-2-801; 10-2-803 D. Availability of Fire Insurance
Ref: 10-4-110.7; 10-4-110.9; Reg. 5-1-17
B. Licensing and producers’ legal responsibility .... (8-9)
1. Persons required to be licensed
Ref: 10-2-103(6); 10-2-105; 10-2-201; 10-2-401; IV. COLORADO STATUTES, RULES, AND REGULATIONS
10-2-404; 10-2-407; 10-2-408; 10-2-412; PERTINENT TO CASUALTY INSURANCE ONLY ........5
10-2-416; 10-2-701; Reg. 1-2-10
2. Surplus Lines A. Automobile insurance ............................................(4-5)
Ref: 10-2-408; 10-5-103; 10-5-111; Reg. 2-4-1 1. Cancellation/nonrenewal
3. Payment and acceptance of commissions/fees Ref: 10-4-602; 10-4-603; 10-4-604; 10-4-626 through
Ref: 10-2-702; Reg. 1-2-9 630; Reg. 5-2-12
4. Fiduciary/commingling 2. Excluded drivers
Ref: 10-2-704; Reg. 1-2-1 Ref: 10-4-628; 10-4-629; 10-4-630; Reg. 5-2-2
5. Continuing education 3. Uninsured motorist/Underinsured motorist
Ref: 10-2-301; 10-3-904.5; Reg. 1-2-4 Ref: 10-4-609; 10-4-610; 10-4-620; 42-7-103(2); 42-7-
6. Unauthorized entities 103(7)
Ref: 10-3-903 through 10-3-904.5; 10-3-906; 10-3-908 4. Financial responsibility
C. Unfair competition and deceptive practices ........ (8-9) Ref: 10-4-619; 10-4-620; 42-7-103(2); 42-7-301
1. Coercion 5. Required coverages
Ref: 10-3-1104(1)(d); 10-3-1105 Ref: 10-4-619 through 621
2. Misrepresentation 6. Medical Payment Coverage
Ref: 10-3-1104(1)(a); 10-1-128 Ref: 10-4-635; 10-4-636, 10-4-641; Reg. 5-2-16
3. Unfair discrimination B. Colorado Auto Insurance Plan...............................(0-1)
Ref: 10-3-1104(1)(f); 10-3-1104.5 Ref: 10-4-412
4. Controlled business
Ref: 10-2-401(4) COLORADO CREDIT EXAMINATION
5. Defamation
CONTENT OUTLINE
Ref: 10-1-116; 10-3-1104(1)(c)
6. Rebates (30 scoreable questions)
Ref: 10-3-1104(1)(g) I. COLORADO STATUTES, RULES, AND REGULATIONS
7. Unfair claims practices COMMON TO LIFE, SICKNESS AND ACCIDENT,
Ref: 10-3-1104(1)(h); 10-16-214; Reg. 5-1-14 PROPERTY (FIRE), AND CASUALTY INSURANCE ....5
8. Colorado Fraud Statute A. Insurance Commissioner
Ref: 10-1-128; Reg. 6-5-1 1. Power and duties
Ref: 10-1-104; 10-1-108; 10-1-109; 10-1-201 through
II. COLORADO STATUTES, RULES, AND, REGULATIONS, 204; 10-3-105; 10-3-202 through 208; 10-3-1106
COMMON TO PROPERTY, CASUALTY, AND PERSONAL 2. Hearings and penalties
LINES INSURANCE ONLY ............................................ 3 Ref: 10-2-804; 10-3-1104; 10-3-1107; 10-3-1111; 10-3-
1108; 10-3-1109
3. License suspension and revocation
A. Rate regulations...................................................... 1
Ref: 10-2-801; 10-2-803
Ref: 10-4-401; 10-4-403; 10-4-416
B. Licensing and producers’ legal responsibility
1. Misquotes
1. Persons required to be licensed
B. Summary disclosure form ..................................... 1
Ref: 10-2-103(6); 10-2-106; 10-2-201; 10-2-401;
Ref: 10-4-111; 10-4-636; Reg. 5-2-16
10-2-404; 10-2-407; 10-2-408; 10-2-412;
C. Use of Credit Information ....................................... 1
10-2-416; Reg. 1-2-10
Ref: 10-4-116
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2. Surplus Lines 5. Appraisal
Ref: 10-2-408; 10-5-103; 10-5-111; Reg. 2-4-1 6. Company options
3. Payment and acceptance of commissions/fees 7. Cancellation
Ref: 10-2-702; Reg. 1-2-9 8. Additional coverages
4. Fiduciary/commingling B. Personal Lines coverage
Ref: 10-2-704; Reg. 1-2-1 Ref: ISO Homeowners policies
5. Continuing education 1. Dwelling and Contents
Ref: 10-2-301; Reg. 1-2-4 2. Homeowners and forms/coverages
6. Unauthorized entities a. Policy provisions
Ref: 10-3-904.5; 10-3-906; 10-3-908; 10-3-104 i. Duties after loss
C. Unfair competition and deceptive practices ii. Loss settlement provisions
1. Coercion b. Replacement costs
Ref: 10-3-1104(1)(d); 10-3-1105 c. Guaranteed replacement costs
2. Misrepresentation d. Appraisal
Ref: 10-3-1104(1)(a) e. Optional provisions
3. Unfair discrimination f. Special limits of liability
Ref: 10-3-1104(1)(f); 10-3-1104.5 g. Proof of Loss
4. Controlled business h. Additional Living Expense
Ref: 10-2-401(4) 3. General Property forms
5. Defamation C. Commercial Lines coverage
Ref: 10-1-120; 10-3-1104(1)(c) Ref: ISO Business Policies, Standard Boiler and Machinery
6. Rebates policies
Ref: 10-3-1104(1)(g) 1. Commercial Property forms
7. Unfair claims practices a. Commercial property and buildings
Ref: 10-3-1104(1)(h); Reg. 5-1-14 b. Causes of Loss
8. Colorado Fraud Statute c. Coinsurance
Ref: 10-1-128; Reg. 6-5-1 2. Commercial Package Policy (CPP)
3. Boiler and Machinery
II. COLORADO STATUTES, RULES, AND TITLE 10,
4. Business owner policy
ARTICLE 10, REGULATIONS PERTINENT TO CREDIT
INSURANCE.................................................................. 25 5. Commercial and Special Multi-peril
Ref: Reg. 4-9-2 all sections 6. Business Interruption
A. Definitions and general concepts D. Inland Marine
Ref: 10-10-103, 10-10-107 Ref: Personal Article Floaters, Personal Property Floaters,
B. Policy Provisions Commercial Property Floaters
Ref: 10-10-108 1. Definitions
C. Benefits and Rates 2. Policies
Ref: 10-10-108, 10-10-109 a. Personal floaters
D. Claims procedures b. Commercial floaters
Ref: 10-10-112 c. Commercial Inland Marine policy
E. Delivery of policy/certificate 3. Free On Board (F.O.B.)
Ref: 10-10-108 E. Additional Coverages and Exclusions
1. Business Interruption
2. Time Element
3. Law and Ordinance exclusion
COLORADO PUBLIC ADJUSTER 4. Law and Ordinance coverage
EXAMINATION CONTENT OUTLINE 5. Valuable Papers and Records
(55 scoreable questions) 6. Debris removal
F. Bonds
I. GENERAL PROPERTY INSURANCE PRODUCT
KNOWLEDGE PERTINENT TO ADJUSTERS II. INSURANCE TERMS AND CONCEPTS
Ref: All topics make reference to general product knowledge, A. Peril
unless otherwise noted 1. Open peril
A. Standard Fire Policy 2. Named peril
Ref: New York Standard Fire Policy B. Waiver/non-waiver agreement
1. Basic coverages, provisions, and clauses C. Estoppel
2. Limitations and restrictions D. Insurance contract and clauses
3. Proof of Loss E. Proof of Loss
4. Loss requirements and inventories
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F. Depreciation/Betterment 1. Syndicates
G. Deductible 2. Alien
H. Liability 3. Foreign
I. Valued policy 4. Lloyd’s
J. Appraisal clause 5. Non-admitted Surplus Lines Insurers
K. Actual Cash Value as opposed to Fair Market Value a. Approved List
L. Robbery D. Courtesy Filings
M. Burglary Ref: Reg. 2-4-1(11)
N. Agreed Value E. Exemptions
O. Replacement Cost Ref: 10-5-101.5
P. National Flood Insurance F. Conditions/Procurement
Q. Indemnity Ref: 10-5-101; 10-5-103; Reg. 2-4-1
R. Apportionment clause G. Disclosures
S. Coinsurance Ref: 10-5-104; 10-5-119; Reg. 2-4-1(4)
T. Insurable Interest H. Affidavit
U. Blanket coverage Ref: 10-5-103; Reg. 2-4-1(7)(B); 2-4-1(11)
V. Subrogation I. Endorsement
W. Misrepresentation/Fraud Ref: 10-5-104; Reg. 2-5-1
X. Release J. Premium Rates
Y. Insured Ref: 10-4-401; 10-5-103; Reg. 2-4-1(5)
K. Premium Tax
III. General Public Adjuster practices, responsibilities, and Ref: 10-5-111; Reg. 2-4-1 (7)(A) (B)
duties 1. Acceptable premium tax reporting forms and
procedures
IV. COLORADO LAWS AND REGULATIONS PERTINENT TO
Ref: Bulletin-2.7(III)
PUBLIC ADJUSTERS
L. Annual Statement
A. Regulation and licensing of Public Adjusters
Ref: 10-2-417; 10-2-801; Reg. 1-2-12 Ref: 10-5-110
M. Records
B. Public Adjuster practices, responsibilities, and
Ref: 10-5-109; 10-5-116; Reg. 2-4-1(6); 2-4-1(7)
duties
Ref: Reg. 1-1-2; 1-2-12 N. Penalties
Ref: 10-5-108, 10-5-112, 10-5-113, 10-5-114, 10-5-116
C. Unfair Claims Settlement and Trade Practices
Ref: 10-3-1104; 10-3-1107
D. Claims Handling
1. Fraudulent & Arson Reporting TITLE-GENERAL KNOWLEDGE
Ref: 10-4-1001 to 10-4-1008 CONTENT OUTLINE
2. Property damage – time of payment Product Knowledge, Terms, and Concepts
Ref: 10-4-112
(35 scoreable questions)
3. Requirement on hazard insurance loans secured by
real property I. TITLE INSURANCE TERMS AND CONCEPTS.............8
Ref: 10-4-114 A. Commitment
B. Policy
C. Exception
COLORADO SURPLUS LINES BROKER D. Requirement
CONTENT OUTLINE E. Endorsement
F. Insurer/Underwriter
(35 scoreable questions)
G. Chain of Title
H. Closing and Settlement
I. COLORADO SURPLUS LINES STATUTES AND I. Title Agent
REGULATIONS J. Fiduciary Responsibilities
A. Purpose of Surplus Lines Regulation K. Search and Examination
Ref: 10-5-101.1; 10-5-112; 10-7-102; Reg. 2-4-1(7)
II. TITLE INSURANCE POLICIES ......................................7
B. Definitions
A. Types of Policies
Ref: 10-1-102; 10-5-101.2; 10-5-103; 10-5-104; 10-5-106; 10-
1. Owners
5-107; Reg. 2-4-1(6)
a. ALTA Forms
C. Qualifications for Surplus Lines Insurers
2. Loan
Ref: 10-5-101; 10-5-108; 10-5-114; Reg. 2-4-1(8); 2-4-1(9);
3. Construction Loan
2-4-1(10)
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B. Policy Provisions Ref: 10-11-106; 10-11-116; Reg. 1-1-7; 1-1-8
1. Insuring Clause 5. Closing Instructions
2. Terms, Conditions, and Stipulations Ref: Reg. 3-5-1
3. Exclusions 6. Search and examination
Ref: 10-11-106
III. REAL ESTATE OWNERSHIP........................................ 5
7. Privacy notices
A. Joint Tenancy
Ref: Reg. 6-4-1; 6-4-2
B. Tenants In Common
C. Fee Simple
E. Standards of Conduct/Licensing...........................10
D. Life Estate
1. Insurance Commissioner
E. LeaseHold
a. Power and duties
IV. RIGHTS AND INTERESTS ............................................ 5 Ref: 10-1-104; 10-1-108; 10-1-109; 10-1-201 through
A. Easement and Right of Way 204; 10-3-105; 10-3-202 through 208; 10-3-1106
B. Liens b. Hearings and penalties
1. Voluntary Ref: 10-2-801; 10-2-804; 10-3-104; 10-3-1107;
2. Involuntary 10-3-1108; 10-3-1109; 10-3-1111; Reg. 3-5-1
C. Covenants, Conditions, and Restrictions c. License suspension and revocation
Ref: 10-2-801; 10-2-802; 10-2-803; 10-2-804
V. LEGAL DESCRIPTIONS................................................ 5
2. Licensing and producers’ legal responsibility
A. Platted and Unplatted
a. Persons required to be licensed
B. Section, Township, and Range
C. Metes and Bounds Ref: 10-2-103(6); 10-2-105; 10-2-201; 10-2-401;
10-2-404; 10-2-407; 10-2-408; 10-2-412; 10-2-416;
D. Lot and Block
10-11-116; Reg. 1-2-10
VI. METHODS OF TRANSFER/CONVEYANCES............... 5 b. Payment and acceptance of commissions/fees
A. Warranty Deeds Ref: 10-2-702; Reg. 1-2-9; Reg. 3-5-1
B. Quitclaim Deeds c. Fiduciary/commingling
C. Deed of Trust Ref: 10-2-704; Reg. 1-2-1; Reg. 3-5-1
D. Foreclosure d. Unauthorized entities
E. Probate Ref: 10-2-401; 10-3-903 through 10-3-904.5; 10-3-906;
10-3-908
TITLE-COLORADO SPECIFIC e. Change of address
CONTENT OUTLINE Ref: 10-2-406; 10-2-412
State Laws, Rules and Regulations f. Assumed names
(40 scoreable questions) Ref: 10-2-409; 10-2-701; 10-11-117; Reg. 1-2-10
g. Responsible Producer
I. COLORADO INSURANCE LAWS AND Ref: 10-2-406; Reg. 1-2-10
REGULATIONS h. Agency Licensing
A. Definitions ............................................................... 5 Ref: 10-2-406; 10-11-116
Ref: 10-1-102; 10-2-103; 10-11-102; Reg. 3-5-1 3. Unfair competition and deceptive practices
B. Rates ........................................................................ 5 a. Coercion
1. Filing Requirements Ref: 10-3-1104(1)(d); 10-3-1105
a. Closing/Settlement Fees b. Misrepresentation
Ref: 10-11-118; Reg.3-5-1 Ref: 10-3-1104(1)(a)
b. Title Insurance Premiums c. Unfair discrimination
Ref: 10-4-401; 10-4-403; 10-11-118; Reg.3-5-1 Ref: 10-3-1104(1)(f)
2. Volume Discounts d. Controlled business
Ref: 10-3-1104; 10-4-415; Reg. 3-5-1 Ref: 10-2-401(4); Reg. 3-5-1
C. Prohibited Practices ............................................... 10 e. Defamation
Ref: 10-3-1104; 10-11-108; Reg. 3-5-1 Ref: 10-3-1104(1)(c)
D. Consumer Protections ........................................... 10 f. Rebates/Remuneration
1. Title Commitments Ref: 10-3-1104(1)(g); 10-11-108; Reg. 3-5-1
Ref: 10-11-106; 10-11-122; Reg.3-5-1 g. Unfair claims practices
2. Mineral Estates Ref: 10-3-1104(1)(h)
Ref: 10-11-123
3. Complaints to the Division
Ref: 10-1-108
4. Retention of Records/Response to Division Inquiries
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COLORADO CROP HAIL 7. Actuarial Documents
CONTENT OUTLINE 8. Insured Eligibility
State Laws, Rules and Regulations 9. Units
10. Coverage Levels
(35 scoreable questions)
11. Administrative Fees
12. Life of the Policy
I. GENERAL INSURANCE TERMS AND CONCEPTS..... 11
13. Yield/Revenue Guarantees.
A. Actual cash value B. Plans of Insurance
B. Assignment 1. Actual Production History (APH)
C. Binder a. Buy-up Coverage
D. Coinsurance b. Catastrophic Risk Protection Endorsement (CAT)
E. Hazard 2. Revenue Protection (RP)
F. Indemnity 3. Yield Protection (YP)
G. Insurable interest 4. Income Protection (IP)
H. Insuring Agreement 5. Group Risk Plan (GRP)
I. Limits of Liability 6. Group Risk Income Protection (GRIP)
J. Loss 7. Livestock Risk Protection (LRP)
1. Direct 8. Livestock Gross Margin (LGM)
2. Indirect C. Policy Provisions
K. Negligence 1. Common/Basic Provisions
L. Occurrence 2. Coarse Grains Provisions
M. Peril a. Replant
N. Pro-rata liability b. Prevented Planting
O. Risk c. Late Planting
P. Subrogation 3. Catastrophic Risk Protection Coverage (CAT)
Q. Tort Law Endorsement
R. Crop Hail organizations D. Claims
S. Federal Acts 1. Covered Perils
II. CROP INSURANCE ....................................................... 12 2. Loss Reporting Requirements
A. Policy rates 3. Duties After a Loss
B. Coverages available IV. COLORADO LAWS, RULES, AND REGULATIONS
C. Policy provisions PERTINENT TO CROP INSURANCE ............................5
1. NCIS general provisions A. Insurance Commissioner
2. NCIS Special provisions 1. Power and duties
D. Liability Ref: 10-1-104; 10-1-108; 10-1-109; 10-1-201 through
E. Claim Settlement Practices 204; 10-3-105; 10-3-208; 10-3-1106; 10-4-401
1. Claims site assessment 2. Hearings and penalties
a. Site testing Ref: 10-2-801; 10-2-804; 10-3-1104; 10-3-1107; 10-3-
b. Standard measures 1108; 10-3-1109; 10-3-1111
c. Location 3. License suspension and revocation
2. Notice of loss Ref: 10-2-108; 10-2-801; 10-2-803
3. Insured’s duties B. Licensing and producers’ legal responsibility
4. Agent’s duties 1. Licensing requirements
5. Percentage Plan Ref: 10-2-103(6); 10-2-105; 10-2-201; 10-2-401; 10-2-
6. Arbitration and appraisal 404; 10-2-407; 10-2-408; 10-2-412; 10-2-416; 10-2-
7. Loss payment 502; 10-2-701; Reg. 1-2-10
F. Cancellation and nonrenewal 2. Fiduciary/commingling
G. NCIS policies Ref: 10-2-704; Reg. 1-2-1
III. MULTIPLE PERIL CROP INSURANCE......................... 7 C. Unfair competition and deceptive practices
A. Fundamentals of Multiple Peril Crop Insurance (MPCI) 1. Coercion
1. Actual Production History (APH) Ref: 10-3-1104(1)(d); 10-3-1105
2. Production Reporting 2. Misrepresentation
3. Acreage Reporting Ref: 10-3-1104(1)(a)
4. Important Dates 3. Unfair discrimination
5. Written Agreements Ref: 10-3-1104(1)(f); 10-3-1104.5
6. High Risk Land 4. Controlled business
Ref: 10-2-401(4)
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5. Defamation V. RESPONSIBILITIES OF BAILBOND PRODUCERS .....18
Ref: 10-1-116; 10-3-1104(1)(c) Ref: 10-2-101; 10-2-407; 10-2-412; 10-2-701, 702, 704, 801;
6. Rebates 10-4-404; 12-7-101; 12-7-103; 12-7-105 through 110.5; 111, 113;
Ref: 10-3-1104(1)(g) 16-3-503; 16-4-101 through 110; 16-4-112; 16-4-105; 16-4-201;
7. Unfair claims practices Reg. 1-2-1; 1-2-10; 1-2-14; 5-2-201; 5-6-202(1); 5-6-202 through
Ref: 10-3-1104(1)(h); 10-16-214; Reg. 5-1-14 203; 5-6-203(1)(2) and (4)
8. Colorado Fraud Statute A. Record keeping
Ref: 10-1-128; Reg. 6-5-1 1. Daily Bond Register
D. Colorado Crop Hail Insurance Law 2. Disclosure Statement
1. Rate filings 3. Indemnity Agreement
Ref: 10-4-401; 10-4-403; 10-4-416 4. Prenumbered Receipts
5. Permanent Office Records
6. Audits/Market Conduct
COLORADO BAIL BONDING AGENT B. Forfeitures
Content Outline C. Exoneration
(50 Questions) D. Bail Recovery
E. Reporting requirements
I. LICENSING APPOINTMENT AND TERMINATION 1. Self-disclosure
REQUIREMENTS ........................................................... 7
2. Failure to Disclose
Ref: 10-2-103; 10-2-401 through 416; 10-2-701; 10-2-801
3. Yearly Reports
10-2-802; 10-16-415.7; 12-7-101 through 106; Reg. 1-2-6; 1-2-10;
4. Change of address
1-2-16
F. Fiduciary responsibility
A. Definitions
1. Collateral
B. Examination
a. Release
C. Licensing eligibility
2. Commissions, fees, and premiums
D. Insurer relationships
a. Uniform Consumer Credit Code
E. Appointment and Termination
b. Premium Financing Fees/Tax
1. Contractual Requirements
c. Splitting commissions
2. Termination for Cause
3. Taxes
3. Renewal
G. Service of Process
II. POWERS AND DUTIES OF THE INSURANCE
VI. DEFINITIONS ...................................................................9
COMMISSIONER ........................................................... 5
Ref: 10-2-407; 10-7-101; 12-7-101(1); 12-7-108; 12-7-109;
Ref: 10-1-102(7); 10-1-108; 10-1-204; 10-2-401; 10-2-413; 10-2-
16-4-101; 16-4-103; 16-4-104; 16-4-112; 16-4-201; Black’s Law
801 through 804; 10-2-704; 12-7-102; 12-7-105 through 109; 12-
Dictionary; Dictionary of Insurance Terms
7-113; Reg. 1-2-10; 1-2-14
A. Bail
A. Reporting requirements
B. Bail bonds
B. Records retention
C. Principal
C. License denial, suspension, revocation
D. Collateral
D. Administrative hearings
E. Forfeitures
E. Examinations
F. Power of Attorney
III. UNFAIR TRADE PRACTICES ....................................... 6 G. Recognizance
Ref: 10-2-401, 412; 10-2-702; 10-2-801, 804; 10-3-1104; 1108; H. Indemnitor
12-7-101, 106, 108, 109 I. Bailable offenses
A. Misrepresentation J. Fiduciary
B. Rebating and prohibited inducements K. Premium
C. Prohibited activities and penalties L. Extradition
D. Employee supervision M. Indemnity Agreement
E. Misappropriating N. Surety
IV. BAIL BOND PROCEDURES.......................................... 5
Ref: 10-2-102(6); 10-2-701; 12-7-101; 12-7-103; 12-7-105.5; 12-
7-108; 12-7-109; 12-7-109(1)(l); 16-4-101 through 112; 16-4-201;
Reg. 1-2-14
A. Discharging bail
B. Recommitment of defendant
C. Forfeitures
D. General business practices
COLORADO Insurance - Examination Content Outlines Effective Date: January 1, 2012
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