VA State Life, Health and Annuities Exam Questions & Answers | 100%
Verified solutions | 2025\2026 Latest!!
1. In a long-term care policy issued in Virginia, any pro- 6 months
vision limiting preexisting conditions may not exceed
_____ months
2. What is a universal life insurance policy? A flexible premium de-
posit fund and a monthly
renewable term insurance
policy
3. How is an insured's accident and health claim handled The unpaid premium may
by an insurer if it occurs during the policy's grace be subtracted from the re-
period? imbursement
4. What must an agent do when replacing a long-term Notify the applicant that
care policy with a new policy? an annual premium must
be paid for the new policy
5. The free look period provided in a life insurance policy 10 days
is usually
6. Which of the following is NOT subject to the promise How the premium is cal-
to pay in an insuring clause? culated
A) How the premium is calculated
B) Policy provisions
C) Policy conditions
D) Policy exclusions
7. In Virginia, an insurance agent's appointment is in until termination
effect
8.
, VA State Life, Health and Annuities Exam Questions & Answers | 100%
Verified solutions | 2025\2026 Latest!!
Tim is confined to a nursing home but doesn't have a Long-term car benefit rid-
terminal illness. Which life insurance rider is designed er
to help pay for this type of expense?
9. An insurance company can be liable for a producer's when the agency contract
unauthorized acts is unclear concerning the
authority given
10. The automatic premium loan provision can be accu- provision that provides a
rately described as a policy loan to pay any pre-
miums by the end of the
grace period
11. Which of these statements ins NOT true regarding a Interest payments made
cash value loan against a life insurance policy? by policyowner are de-
ductible
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 de-
ductable
12. Home health care benefits typically do NOT include prescription medication
coverage for
A) nursing care
B) wheelchairs
C) physical therapy
D) prescription medication
13. What health insurance provision requires that the ap- entire contract clause
plication becomes part of the policy
, VA State Life, Health and Annuities Exam Questions & Answers | 100%
Verified solutions | 2025\2026 Latest!!
14. The conversion option for group term insurance may 31 days of terminated em-
be exercised by an employee within ____ days of ter- ployment
minated employment
15. An insurance policy that can also be classified as a variable life
securities product is called
16. In Virginia, false advertising is an example of misrepresentation
17. An insured, age 67, is coved under a disability income The insured must be ac-
policy. What will the insurer normally require in order tively at work for a speci-
for the insured to continue coverage fied number of hours per
week
18. An agent may be personally liable if he or she engages are not part of the agency
in acts that or agent contract
19. In regards to technology and the ACA, which of the States which operate with
following statements is correct? an Exchange MUST offer
an internet-based portal
20. Licensed agents in Virginia are authorized to solicit, receive, an forward
applications to the insurer
21. Group life insurance is typically issued as _______ insur- level term insurance
ance
22. If the State Corporation Commission believes that an incarcerate the agent
agent is incompetent or untrustworthy, it has the au-
thority to perform all of the following functions EX-
CEPT
23.
Verified solutions | 2025\2026 Latest!!
1. In a long-term care policy issued in Virginia, any pro- 6 months
vision limiting preexisting conditions may not exceed
_____ months
2. What is a universal life insurance policy? A flexible premium de-
posit fund and a monthly
renewable term insurance
policy
3. How is an insured's accident and health claim handled The unpaid premium may
by an insurer if it occurs during the policy's grace be subtracted from the re-
period? imbursement
4. What must an agent do when replacing a long-term Notify the applicant that
care policy with a new policy? an annual premium must
be paid for the new policy
5. The free look period provided in a life insurance policy 10 days
is usually
6. Which of the following is NOT subject to the promise How the premium is cal-
to pay in an insuring clause? culated
A) How the premium is calculated
B) Policy provisions
C) Policy conditions
D) Policy exclusions
7. In Virginia, an insurance agent's appointment is in until termination
effect
8.
, VA State Life, Health and Annuities Exam Questions & Answers | 100%
Verified solutions | 2025\2026 Latest!!
Tim is confined to a nursing home but doesn't have a Long-term car benefit rid-
terminal illness. Which life insurance rider is designed er
to help pay for this type of expense?
9. An insurance company can be liable for a producer's when the agency contract
unauthorized acts is unclear concerning the
authority given
10. The automatic premium loan provision can be accu- provision that provides a
rately described as a policy loan to pay any pre-
miums by the end of the
grace period
11. Which of these statements ins NOT true regarding a Interest payments made
cash value loan against a life insurance policy? by policyowner are de-
ductible
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 de-
ductable
12. Home health care benefits typically do NOT include prescription medication
coverage for
A) nursing care
B) wheelchairs
C) physical therapy
D) prescription medication
13. What health insurance provision requires that the ap- entire contract clause
plication becomes part of the policy
, VA State Life, Health and Annuities Exam Questions & Answers | 100%
Verified solutions | 2025\2026 Latest!!
14. The conversion option for group term insurance may 31 days of terminated em-
be exercised by an employee within ____ days of ter- ployment
minated employment
15. An insurance policy that can also be classified as a variable life
securities product is called
16. In Virginia, false advertising is an example of misrepresentation
17. An insured, age 67, is coved under a disability income The insured must be ac-
policy. What will the insurer normally require in order tively at work for a speci-
for the insured to continue coverage fied number of hours per
week
18. An agent may be personally liable if he or she engages are not part of the agency
in acts that or agent contract
19. In regards to technology and the ACA, which of the States which operate with
following statements is correct? an Exchange MUST offer
an internet-based portal
20. Licensed agents in Virginia are authorized to solicit, receive, an forward
applications to the insurer
21. Group life insurance is typically issued as _______ insur- level term insurance
ance
22. If the State Corporation Commission believes that an incarcerate the agent
agent is incompetent or untrustworthy, it has the au-
thority to perform all of the following functions EX-
CEPT
23.
