State RegulationsCO specificDifficulty 1/5
A Colorado life producer dies, and an eligible person wants to continue servicing the business during the transition. For how long may the Colorado Commissioner of Insurance issue a temporary license without an examination under C.R.S. § 10-2-410?
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Answer & full 3-part explanation (select an option above, or peek)
Why A is correct
C.R.S. § 10-2-410(1) allows the Colorado Commissioner of Insurance to issue a temporary license without examination for up to 180 days, for example on the death or disability of the producer, during active military service, or in the public interest. The temporary license bridges the period until the business can be transferred or a fully licensed producer takes over.
Why the other options are wrong
- B) The temporary license under C.R.S. § 10-2-410 runs up to 180 days, not 6 months.
- C) 90 days is shorter than the statutory maximum of 180 days for a temporary license.
- D) 2 years is the term of an agency license, not the 180-day maximum for a temporary license under C.R.S. § 10-2-410.
Memory hook
Temporary means 180 days — death, disability, military, or public interest.