WV STATE LIFE INSURANCE ACTUAL
ASSESSMENT SCRIPT 2026 COMPLETE
QUESTIONS AND FULL SOLUTION
●● employer.
Answer: Assignment of group life insurance benefits is allowed in the
State of West Virginia. However, assignment is NOT allowed to the
insured's
spouse
children
creditors
employer
●● d.
Answer: An example of an unfair claims settlement practice is
a. making it mandatory that proof of loss be provided for each claim
b. requiring a time limit for submitting a claim
c. paying a claim in a timely matter
d. turning down a claim without providing the basis of denial
●● d.
,Answer: When recommending a purchase or exchange of an annuity, the
producer or insurer must have a reasonable basis for believing that a
recommendation is suitable based on all of the following facts disclosed
by an applicant EXCEPT the applicant's
-present income
-net worth
-intended use
-county of residence
●● c.
Answer: A producer must notify the Insurance Commissioner within __
days following the final desposition of an administrative action by any
government agency.
-10
-20
-30
-40
●● c.
Answer: Life insurance death benefits up to ___ are guaranteed by the
West Virginia Life and Health Guaranty Association.
-$50,000
-$150,000
-$300,000
,-500,000
●● a.
Answer: A producer's license may be suspended or revoked if the license
-writes primarily controlled business
-engages in replacement of an existing policy
-files for bankruptcy
-does not meet a sales quota
●● d.
Answer: S the producer charged a fee for placing an insurance policy.
Under West Virginia law, S must
-report the placement to his primary insurer
-document the fee with the Department of Insurance
-guarantee to the insured that the insurer will accept the risk
-report this act to the Insurance Commissioner
●● d.
Answer: What must be signed by both the producer and applicant when
an existing life insurance policy is being reissued with a reduction in
cash value?
-Policy Guide
-Buyer's Summary
, -Replacement receipt
-Notice Regarding Replacement
●● a.
Answer: Life insurance replacement regulation protects the interests of
-the policyowner
-the producer
-the insurer
-the NAIC
●● d.
Answer: Convincing a prospective insured to buy an insurance policy
based on exaggerations is called
-rebating
-intimidation
-twisting
-misrepresentation
●● b.
Answer: B the producer sold an insurance contract to a client. B has
engaged in
-consummating an agreement
-transacting insurance
ASSESSMENT SCRIPT 2026 COMPLETE
QUESTIONS AND FULL SOLUTION
●● employer.
Answer: Assignment of group life insurance benefits is allowed in the
State of West Virginia. However, assignment is NOT allowed to the
insured's
spouse
children
creditors
employer
●● d.
Answer: An example of an unfair claims settlement practice is
a. making it mandatory that proof of loss be provided for each claim
b. requiring a time limit for submitting a claim
c. paying a claim in a timely matter
d. turning down a claim without providing the basis of denial
●● d.
,Answer: When recommending a purchase or exchange of an annuity, the
producer or insurer must have a reasonable basis for believing that a
recommendation is suitable based on all of the following facts disclosed
by an applicant EXCEPT the applicant's
-present income
-net worth
-intended use
-county of residence
●● c.
Answer: A producer must notify the Insurance Commissioner within __
days following the final desposition of an administrative action by any
government agency.
-10
-20
-30
-40
●● c.
Answer: Life insurance death benefits up to ___ are guaranteed by the
West Virginia Life and Health Guaranty Association.
-$50,000
-$150,000
-$300,000
,-500,000
●● a.
Answer: A producer's license may be suspended or revoked if the license
-writes primarily controlled business
-engages in replacement of an existing policy
-files for bankruptcy
-does not meet a sales quota
●● d.
Answer: S the producer charged a fee for placing an insurance policy.
Under West Virginia law, S must
-report the placement to his primary insurer
-document the fee with the Department of Insurance
-guarantee to the insured that the insurer will accept the risk
-report this act to the Insurance Commissioner
●● d.
Answer: What must be signed by both the producer and applicant when
an existing life insurance policy is being reissued with a reduction in
cash value?
-Policy Guide
-Buyer's Summary
, -Replacement receipt
-Notice Regarding Replacement
●● a.
Answer: Life insurance replacement regulation protects the interests of
-the policyowner
-the producer
-the insurer
-the NAIC
●● d.
Answer: Convincing a prospective insured to buy an insurance policy
based on exaggerations is called
-rebating
-intimidation
-twisting
-misrepresentation
●● b.
Answer: B the producer sold an insurance contract to a client. B has
engaged in
-consummating an agreement
-transacting insurance
