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CH 10 VA State Health and Insurance Exam (Virginia Statutes and Regulations Common to All Lines) Questions with Definitive Solutions/ . $9.99
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CH 10 VA State Health and Insurance Exam (Virginia Statutes and Regulations Common to All Lines) Questions with Definitive Solutions/ .
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CH 10 VA State Health and Insurance Exam (Virginia Statutes and Regulations Common to All Lines) Questions with Definitive Solutions/ .

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  • October 6, 2024
  • 25
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • state health and insurance exam virginia

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  • State Health and Insurance Virginia
  • State Health and Insurance Virginia

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CH 10 VA State Health and Insurance Exam
(Virginia Statutes and Regulations Common to
All Lines) Questions with Definitive Solutions/
2024-2025.
Which of the following represents an insurer?
A) Agent
B) Insured
C) Commissioner
D) Non-resident - Answer: A) Agent


How often will the Commission examine an insurer's books and records?
A) Every 3 years
B) Annually
C) Only upon a request from the insurer or a complaint from a customer
D) At least once every 5 years - Answer: D) At least once every 5 years

Page 1 of 25

,The Commission may examine books or records of each insurer as seen fit, but at
least once every 5 years.


An agent willfully violates an insurance law. What is the maximum fine for reach
offence?
A) $1,500
B) $2,000
C) $5,000
D) $7,500 - Answer: C) $5,000


The Commissioner may fine a person committing a willful violation of any Virginia
insurance code up to $5,000 for each offense.


Which of the following is NOT a duty of the Commission of Insurance?
A) Enforcing the Insurance Code
B) Suspending or revoking licenses of Insurance Code violators
C) Examining each domestic insurer at least once a year
D) Appointing the Commissioner of Insurance - Answer: C) Examining each
domestic insurer at least once a year


The Commission is required to examine every insurer license in Virginia at least
once in every 5 years.




Page 2 of 25

, What is the maximum penalty that could be imposed on agent for an
unintentional violation of Virginia insurance law?
A) $500
B) $1,000
C) $2,000
D) $5,000 - Answer: B) $1,000


Any person who violates without knowledge or intent the insurance code of
Virginia may be punished for each violation by a penalty of not more than $1,000.
Willful violations may result in a fine up to $5,000.


What governing body issues rules and regulations for the administration of the
Insurance Code?
A) The State Corporation Commission
B) The Virginia Department of Insurance
C) The Life and Health Guarantee Association
D) The Joint Legislative Audit and Review Commission - Answer: A) The State
Corporation Commission


The State Corporation Commission, referred to as "the Commission," issues the
rules and regulations for the administration for the Insurance Code.


Notice of a hearing for cease-and-desist order must be given at least how many
days in advance?
A) 7

Page 3 of 25

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