Virginia Life and Health Insurance Bundled Exams Questions and Answers Multiple Versions (2024/2025) (Complete and Accurate)

Virginia Life Insurance Exam Questions and Answers Already Passed All of the following entities regulate variable life policies EXCEPT a)The Insurance Department. b)The Guaranty Association. c)Federal government. d)The SEC. b)The Guaranty Association. Which of the following is T...

Virginia Life Insurance and Annuities Questions and Answers Rated A+ Methods of Handling Risk (STARR) 1. Sharing (each member of group pays portion of loss) 2. Transfer (spreading risk among customers) 3. Avoidance (not engaging in certain activity) 4. Reduction (lessening chance) 5. Retenti...

VA Life Insurance, Health Insurance, and Annuities Exam Rated A+ A & H accident and health absolute assignment assignment by the policy owner of all control and rights to a third party Accidental Death Insurance A form of health insurance that provides payment, if death of the insured r...

Virginia Life, Annuity, and Health Part One Latest Version Already Passed Loss decline in value of a person or thing Risk uncertainty regarding the occurrence of a loss Pure risk possibility of loss or no loss (INSURABLE) Speculative risk possibility of loss, but also chance for profit ...

Virginia Life and Health Practice Final Exam with Complete Solutions Under which circumstance may an insurer discontinue a small employer group medical plan? Employer fails to pay the premium prior to the end of the grace period An insured is covered with a health insurance policy. If the in...

Virginia Health Insurance Test Latest Update Graded A+ Absolute An assignment that occurs when the policy owner assigns all rights including cash values to another person or entity. Synonymous with voluntary assignment. Absolute Value A medical expense plan that pays a fixed maximum dollar...

VA Health and Life Insurance Questions and Answers Already Passed Why would a large corporation choose to self-insure rather than buy an insurance policy from an insurance company? a) to avoid having to comply with individual state laws b) to cover against an occasional but high-severity ...

Virginia life and Health Final Exam Questions and Answers 100% Pass Insurable inter in one's own life is legally considered as Generally unlimited Where dose the primary funding for medical part A come from? Federal payroll and self employment taxes What would be a valid reason for namin...

Virginia Life and Health Exam Review Questions and Answers 100% Pass What contract term means only one party to a contract's promises are legally enforceable? Unilateral Mr. Jones, the insured, committed suicide after the expiration of the suicide clause in his life insurance policy. The i...

VA State Life Insurance and Annuities Questions and Answers Already Passed Which of these arrangements allows one to bypass insurable interest laws? investor originated life insurance Which of these is an element of a Variable Life policy? a fixed, level premium What does the insuring agr...

VA Health Insurance – 8 Questions and Answers 100% Pass Which of the following is a requirement to be eligible for a group life policy in Virginia? A. Group must be formed for a purpose other than obtaining insurance B. Group must designate one of its members to be the named insured ...

VA Health Life and Annuities Latest Version Graded A+ Long-Term Care refers to the broad range of medical and personal services for individuals (often the elderly) who need assistance with daily activities for an extended period of time for chronic illnesses like arthritis, rheumatism, and s...

Virginia Laws and Rules Questions and Answers Already Passed A policy loan provision is not required in which of the following types of policies? Term Life An insurance licensee is required to provide records of insurance transactions to the State Corporation Commission: Promptly upon req...

Virginia Personal Lines Exam (Virginia Insurance Laws & Regulations) Latest 2024 Graded A+ Hierarchy State Corporation Commission. Bureau of Insurance. Commissioner. Examination by the Commission The commission must examine every insurer licensed in Virginia at least once every 5 years....