1 Exampromax - Stuvia US
Virginia Laws and Rules Questions and
Answers 100% Correct Answers Already
Graded A+
Q: A policy loan provision is not required in which of the following types of
policies?
Ans: Term Life
Q: An insurance licensee is required to provide records of insurance
transactions to the State Corporation Commission:
Exampromax - Stuvia US
Ans: Promptly upon request for examination of the licensee
Q: Testimonials used in Accident & Health insurance must meet all of the
following requirements, EXCEPT:
Ans: They must be approved by the Virginia Commissioner of Insurance
Q: The Virginia Commissioner of Insurance has the authority to examine
the business records of all of the following entities, EXCEPT:
Ans: life insurance master policyholders
Q: The purpose of the Rules Governing Life Insurance and Annuity
Replacements is to:
Ans: reduce the opportunity for misrepresentation and incomplete disclosure
Q: Health coverage provided under the Affordable Care Act (ACA) shall be
made available for dependents until the child attains the age of:
Ans: 26
, 2 Exampromax - Stuvia US
Q: An insurance agent is in violation of the Rules Governing
Advertisement of Life Insurance and Annuities if the agent takes which of
the following actions during a sales presentation?
Ans: Refers to guaranteed policy dividends
Q: The Commission may suspend or revoke the license of an agent who
takes any of the following actions EXCEPT
Ans: represents more than one insurance company
Q: When soliciting a Medicare Supplement policy, an insurance agent
should advise an applicant that the:
Ans: agent is there to determine what, if any, policy is appropriate for the
purchaser, considering existing coverage
Exampromax - Stuvia US
Q: The act of offering an applicant something of value as an inducement to
purchase a policy of insurance is:
Ans: rebating
Q: Medicare supplement insurance is issued by
Ans: insurance companies
Q: An advertisement stating that an agent is licensed for a line of authority,
when that agent is not licensed for that line of authority, is:
Ans: false advertising
Q: An agent must maintain records of insurance transactions for a
MINIMUM of how many previous calendar years?
Ans: 3
Q: At the date of issue, an employee group life insurance policy must cover
a MINIMUM of how many employees?
Ans: 2
Virginia Laws and Rules Questions and
Answers 100% Correct Answers Already
Graded A+
Q: A policy loan provision is not required in which of the following types of
policies?
Ans: Term Life
Q: An insurance licensee is required to provide records of insurance
transactions to the State Corporation Commission:
Exampromax - Stuvia US
Ans: Promptly upon request for examination of the licensee
Q: Testimonials used in Accident & Health insurance must meet all of the
following requirements, EXCEPT:
Ans: They must be approved by the Virginia Commissioner of Insurance
Q: The Virginia Commissioner of Insurance has the authority to examine
the business records of all of the following entities, EXCEPT:
Ans: life insurance master policyholders
Q: The purpose of the Rules Governing Life Insurance and Annuity
Replacements is to:
Ans: reduce the opportunity for misrepresentation and incomplete disclosure
Q: Health coverage provided under the Affordable Care Act (ACA) shall be
made available for dependents until the child attains the age of:
Ans: 26
, 2 Exampromax - Stuvia US
Q: An insurance agent is in violation of the Rules Governing
Advertisement of Life Insurance and Annuities if the agent takes which of
the following actions during a sales presentation?
Ans: Refers to guaranteed policy dividends
Q: The Commission may suspend or revoke the license of an agent who
takes any of the following actions EXCEPT
Ans: represents more than one insurance company
Q: When soliciting a Medicare Supplement policy, an insurance agent
should advise an applicant that the:
Ans: agent is there to determine what, if any, policy is appropriate for the
purchaser, considering existing coverage
Exampromax - Stuvia US
Q: The act of offering an applicant something of value as an inducement to
purchase a policy of insurance is:
Ans: rebating
Q: Medicare supplement insurance is issued by
Ans: insurance companies
Q: An advertisement stating that an agent is licensed for a line of authority,
when that agent is not licensed for that line of authority, is:
Ans: false advertising
Q: An agent must maintain records of insurance transactions for a
MINIMUM of how many previous calendar years?
Ans: 3
Q: At the date of issue, an employee group life insurance policy must cover
a MINIMUM of how many employees?
Ans: 2
