VA State Life, Health and Annuities
Exam Questions with complete
solution 2025/2026
In a long-term care policy issued in Virginia, any provision limiting preexisting conditions may not exceed
_____ months - correct answer ✔6 months
What is a universal life insurance policy? - correct answer ✔A flexible premium deposit fund and a
monthly renewable term insurance policy
How is an insured's accident and health claim handled by an insurer if it occurs during the policy's grace
period? - correct answer ✔The unpaid premium may be subtracted from the reimbursement
What must an agent do when replacing a long-term care policy with a new policy? - correct answer
✔Notify the applicant that an annual premium must be paid for the new policy
The free look period provided in a life insurance policy is usually - correct answer ✔10 days
Which of the following is NOT subject to the promise to pay in an insuring clause?
A) How the premium is calculated
B) Policy provisions
C) Policy conditions
D) Policy exclusions - correct answer ✔How the premium is calculated
In Virginia, an insurance agent's appointment is in effect - correct answer ✔until termination
,Tim is confined to a nursing home but doesn't have a terminal illness. Which life insurance rider is
designed to help pay for this type of expense? - correct answer ✔Long-term car benefit rider
An insurance company can be liable for a producer's unauthorized acts - correct answer ✔when the
agency contract is unclear concerning the authority given
The automatic premium loan provision can be accurately described as a - correct answer ✔provision
that provides a policy loan to pay any premiums by the end of the grace period
Which of these statements ins NOT true regarding a cash value loan against a life insurance policy?
A) Interest normally accrues on unpaid balances
B) Loan cannot exceed the policy's cash value
C) Policy contract terms dictate the interest rate
D) Interest payments made by policyowner are deductable - correct answer ✔Interest payments made
by policyowner are deductible
Home health care benefits typically do NOT include coverage for
A) nursing care
B) wheelchairs
C) physical therapy
D) prescription medication - correct answer ✔prescription medication
What health insurance provision requires that the application becomes part of the policy - correct
answer ✔entire contract clause
, The conversion option for group term insurance may be exercised by an employee within ____ days of
terminated employment - correct answer ✔31 days of terminated employment
An insurance policy that can also be classified as a securities product is called - correct answer
✔variable life
In Virginia, false advertising is an example of - correct answer ✔misrepresentation
An insured, age 67, is coved under a disability income policy. What will the insurer normally require in
order for the insured to continue coverage - correct answer ✔The insured must be actively at work for
a specified number of hours per week
An agent may be personally liable if he or she engages in acts that - correct answer ✔are not part of
the agency or agent contract
In regards to technology and the ACA, which of the following statements is correct? - correct answer
✔States which operate with an Exchange MUST offer an internet-based portal
Licensed agents in Virginia are authorized to - correct answer ✔solicit, receive, an forward applications
to the insurer
Group life insurance is typically issued as _______ insurance - correct answer ✔level term insurance
If the State Corporation Commission believes that an agent is incompetent or untrustworthy, it has the
authority to perform all of the following functions EXCEPT - correct answer ✔incarcerate the agent
Group life plans sold in Virginia typically contain a conversion option. If the insured elects this option.
The new policy does - correct answer ✔does NOT require evidence of insurability
Exam Questions with complete
solution 2025/2026
In a long-term care policy issued in Virginia, any provision limiting preexisting conditions may not exceed
_____ months - correct answer ✔6 months
What is a universal life insurance policy? - correct answer ✔A flexible premium deposit fund and a
monthly renewable term insurance policy
How is an insured's accident and health claim handled by an insurer if it occurs during the policy's grace
period? - correct answer ✔The unpaid premium may be subtracted from the reimbursement
What must an agent do when replacing a long-term care policy with a new policy? - correct answer
✔Notify the applicant that an annual premium must be paid for the new policy
The free look period provided in a life insurance policy is usually - correct answer ✔10 days
Which of the following is NOT subject to the promise to pay in an insuring clause?
A) How the premium is calculated
B) Policy provisions
C) Policy conditions
D) Policy exclusions - correct answer ✔How the premium is calculated
In Virginia, an insurance agent's appointment is in effect - correct answer ✔until termination
,Tim is confined to a nursing home but doesn't have a terminal illness. Which life insurance rider is
designed to help pay for this type of expense? - correct answer ✔Long-term car benefit rider
An insurance company can be liable for a producer's unauthorized acts - correct answer ✔when the
agency contract is unclear concerning the authority given
The automatic premium loan provision can be accurately described as a - correct answer ✔provision
that provides a policy loan to pay any premiums by the end of the grace period
Which of these statements ins NOT true regarding a cash value loan against a life insurance policy?
A) Interest normally accrues on unpaid balances
B) Loan cannot exceed the policy's cash value
C) Policy contract terms dictate the interest rate
D) Interest payments made by policyowner are deductable - correct answer ✔Interest payments made
by policyowner are deductible
Home health care benefits typically do NOT include coverage for
A) nursing care
B) wheelchairs
C) physical therapy
D) prescription medication - correct answer ✔prescription medication
What health insurance provision requires that the application becomes part of the policy - correct
answer ✔entire contract clause
, The conversion option for group term insurance may be exercised by an employee within ____ days of
terminated employment - correct answer ✔31 days of terminated employment
An insurance policy that can also be classified as a securities product is called - correct answer
✔variable life
In Virginia, false advertising is an example of - correct answer ✔misrepresentation
An insured, age 67, is coved under a disability income policy. What will the insurer normally require in
order for the insured to continue coverage - correct answer ✔The insured must be actively at work for
a specified number of hours per week
An agent may be personally liable if he or she engages in acts that - correct answer ✔are not part of
the agency or agent contract
In regards to technology and the ACA, which of the following statements is correct? - correct answer
✔States which operate with an Exchange MUST offer an internet-based portal
Licensed agents in Virginia are authorized to - correct answer ✔solicit, receive, an forward applications
to the insurer
Group life insurance is typically issued as _______ insurance - correct answer ✔level term insurance
If the State Corporation Commission believes that an agent is incompetent or untrustworthy, it has the
authority to perform all of the following functions EXCEPT - correct answer ✔incarcerate the agent
Group life plans sold in Virginia typically contain a conversion option. If the insured elects this option.
The new policy does - correct answer ✔does NOT require evidence of insurability
