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VIRGINIA LIFE INSURANCE LAWS AND RULES EXAM QUESTIONS AND CORRECT DETAILED ANSWERS 2025
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VIRGINIA LIFE INSURANCE LAWS AND RULES EXAM QUESTIONS AND CORRECT DETAILED ANSWERS 2025
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1VIRGINIA LIFE INSURANCE LAWS AND RULES
EXAM QUESTIONS AND CORRECT DETAILED
可以！请告诉我您需要写什么主题的中文作文，是写故事、议
ANSWERS 2025
论文、记叙文，还是其他类型？另外，作文的字数要求是多少
An agent does NOT need to notify the Bureau of Insurance of a? a) change of
呢？
address; b) name change; c) change in financial status; or d) felony conviction -
(answer)change in financial status
Which of these is NOT considered advertising? A policy illustration, An AM Best
company rating, A direct mailing by an insurer, or An agent's oral sales
presentation? - (answer)An AM Best company rating
A domestic insurance company in Virginia MUST - (answer)be formed under
Virginia insurance laws
Under Federal Law, which of the following actions may result in a producer
becoming imprisoned? - (answer)Producer embezzling funds from an insurer
When an insurer discovers (during the claim process) that the insured's age
was accidentally misstated on the life insurance application, the insurer will
likely - (answer)pay an amount the premiums would have purchased at the
insured's actual age?
In Virginia, which of the following records are not required to be maintained by
an agent? - (answer)Premium quotes for policies not accepted
An agent who informs an applicant that there are no exclusions in an insurance
policy has engaged in - (answer)Misrepresentation
In Virginia, any person action as an agent for an unlicensed insurer is -
(answer)permissible only if acting as a licensed surplus lines broker
, 2
If a group is considering applying for a group life policy, it MUST? -
可以！请告诉我您需要写什么主题的中文作文，是写故事、议
(answer)have a minimum number of eligible persons
论文、记叙文，还是其他类型？另外，作文的字数要求是多少
呢？
An agent has indicated to a potential client that the proposed life insurance
policy is covered by the Virginia Life, Accident, and Sickness Insurance Guaranty
Association. This action taken by the agent is - (answer)prohibited by law
How often must the Commission examine each domestic insurance company? -
(answer)Every 5 years
Which is a role of the replacing insurer during a life insurance replacement
transaction? - (answer)Send notice of the proposed replacement transaction
to the existing insurer
An ____ is a person appointed by an insurer that represents the company and
presents policies on its behalf. - (answer)agent
Which of these would likely be considered an Unfair Claims Settlement
Practice? - (answer)Offering settlements that are less than the fair value to
offset insurer expenses
Which of the following is NOT a valid reason for an insurer to contest a life
insurance policy during the policy's first two years of existence? -
(answer)Misstatement of age
A(n) _____________ settlement allows a terminally ill individual to sell their life
insurance policy at a discount to pay for medical bills. - (answer)Viatical
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