Colorado Life Producer License Practice Test

In Colorado, what requirement must an insurance producer meet when utilizing a fictitious business name?

1. The name must reflect the services provided

2. The name must be unique

3. The name must be registered with the commissioner

4. The name must be published in a local newspaper

The correct answer is: The name must be registered with the commissioner

In Colorado, when an insurance producer utilizes a fictitious business name, it is essential that the name is registered with the commissioner. This requirement is in place to ensure transparency and accountability in the insurance industry. Registration helps regulate the use of fictitious names and allows consumers to verify the legitimacy of an insurance producer's business identity. By being registered, it ensures that the name is recognized officially and contributes to a clear understanding of who is providing insurance services in the state. This process is part of the regulatory framework that aims to protect consumers and maintain industry standards. The other options involve aspects of business practices, such as reflecting services provided or being unique, but they do not represent the formal legal requirement tied specifically to the usage of fictitious names as established by regulatory authority.