Collision Meshes Are Ignored Until FBX Is Reimported

When importing a mesh with it's collision geometry and its LOD meshes all contained within the same group it won't import the collision geometry correctly. This can be fixed by simply right clicking the asset in the content browser and reimporting.

1. Import attached asset
2. Make sure that you have the import settings shown in the attached image
3. Open the asset and view the collision

RESULT
Collision geometry isn't there.

EXPECTED
There are visible collision meshes that cover the asset.