Virginia Life And Health Insurance Latest Actual
Exam And Practice Exam 2026-2027 With Complete
Questions And Correct Detailed Answers| Brand New
Version!
How many hours of continuing education for 1 line of authority must
insurance agents complete every 2 years? - ANSWER-16 hours
If James has an increasing term policy, which of the following must
increase? - ANSWER-The death benefit
The manner in which the proceeds of a life policy are handled are
specified in what provision? - ANSWER-Settlement options
The manner in which the proceeds of a life policy are handled are
specified in what provision? - ANSWER-Settlement options
Which of the following policies would pay for a company's rent, utilities,
and other operating expenses if the owner becomes disabled? -
ANSWER-Business overhead expense
1|Page
,Tina has a policy that only covers cancer-related medical expenses.
What kind of policy does she have? - ANSWER-Dread disease
How much time does an insurer have to report a termination of an
appointment to the Commissioner of Insurance? - ANSWER-30 days
Shane and Casey both have health plans from work that covers their
son Cash. Which plan is primary? - ANSWER-The parent with the
earliest birthday in the year is primary.
Which of the following is not one of the elements required to make a
contract legal? - ANSWER-Ambiguities
Which type of life policy would best suit someone who retires in good
health with a large amount of cash, whose investment goals are
conservative? - ANSWER-Single premium whole life insurance
How many days does an insured have to file a notice of claim? -
ANSWER-20 days
How many days does someone have after termination of their group
policy to make their first premium payment on the converted policy? -
ANSWER-31 days
2|Page
, On April 9, an application is submitted without the initial premium. The
insurer requires a medical exam, and it is completed on April 14. On
April 18, the insurer issued the policy, and the producer delivers it on
April 21. When is coverage effective? - ANSWER-April 21, after the
statement of good health is signed, and the initial premium is paid.
In Virginia, inflation protection in long-term care partnership policies
MUST be provided for seniors who are in what age range? - ANSWER-61
to 76
A replacing insurer has all the following duties, EXCEPT: - ANSWER-
Inform applicant of the free look period
How often can the Commissioner of Insurance examine individuals that
transact insurance in Virginia? - ANSWER-As often as he or she wants
Life insurance death benefits that can be accessed tax-free when the
insured is still alive are called: - ANSWER-Accelerated benefits
An insurance application is not complete unless it has: - ANSWER-The
signature of the insured (unless not an adult), and the agent.
A program that includes prehospitalization authorization is an example
of: - ANSWER-Managed care
3|Page
Exam And Practice Exam 2026-2027 With Complete
Questions And Correct Detailed Answers| Brand New
Version!
How many hours of continuing education for 1 line of authority must
insurance agents complete every 2 years? - ANSWER-16 hours
If James has an increasing term policy, which of the following must
increase? - ANSWER-The death benefit
The manner in which the proceeds of a life policy are handled are
specified in what provision? - ANSWER-Settlement options
The manner in which the proceeds of a life policy are handled are
specified in what provision? - ANSWER-Settlement options
Which of the following policies would pay for a company's rent, utilities,
and other operating expenses if the owner becomes disabled? -
ANSWER-Business overhead expense
1|Page
,Tina has a policy that only covers cancer-related medical expenses.
What kind of policy does she have? - ANSWER-Dread disease
How much time does an insurer have to report a termination of an
appointment to the Commissioner of Insurance? - ANSWER-30 days
Shane and Casey both have health plans from work that covers their
son Cash. Which plan is primary? - ANSWER-The parent with the
earliest birthday in the year is primary.
Which of the following is not one of the elements required to make a
contract legal? - ANSWER-Ambiguities
Which type of life policy would best suit someone who retires in good
health with a large amount of cash, whose investment goals are
conservative? - ANSWER-Single premium whole life insurance
How many days does an insured have to file a notice of claim? -
ANSWER-20 days
How many days does someone have after termination of their group
policy to make their first premium payment on the converted policy? -
ANSWER-31 days
2|Page
, On April 9, an application is submitted without the initial premium. The
insurer requires a medical exam, and it is completed on April 14. On
April 18, the insurer issued the policy, and the producer delivers it on
April 21. When is coverage effective? - ANSWER-April 21, after the
statement of good health is signed, and the initial premium is paid.
In Virginia, inflation protection in long-term care partnership policies
MUST be provided for seniors who are in what age range? - ANSWER-61
to 76
A replacing insurer has all the following duties, EXCEPT: - ANSWER-
Inform applicant of the free look period
How often can the Commissioner of Insurance examine individuals that
transact insurance in Virginia? - ANSWER-As often as he or she wants
Life insurance death benefits that can be accessed tax-free when the
insured is still alive are called: - ANSWER-Accelerated benefits
An insurance application is not complete unless it has: - ANSWER-The
signature of the insured (unless not an adult), and the agent.
A program that includes prehospitalization authorization is an example
of: - ANSWER-Managed care
3|Page
