VIRGINIA LAWS AND RULES PERTINENT TO
INSURANCE ACTUAL EXAM2025/2026 WITH
QUESTIONS AND CORRECT ANSWERS |
ALREADY GRADED A+ | GUARANTEED PASS |
VIRGINIA LAWS AND RULES PERTINENT TO
INSURANCE EXAM [BRAND NEW]
Each Long Term Care policy sold in Virginia must include a Free Look provision
that refunds all premiums within _____ days of policy delivery - ANSWER-30
What is the qualification for being considered a small group in Virginia -
ANSWER-2 to 50 members
Individual life insurance policies can charge no more than _____ interest per year
on cash value loans - ANSWER-8%
A Long Term Care policy issues in Virginia must provide coverage for at LEAST -
ANSWER-12 months
Which of the following BEST describes an insurance agent conducting business in
Virginia - ANSWER-An individual who sells, solicits, or negotiates contracts of
insurance
,Which of the following is information that an insurer is NOT expected to provide
to an employer when offering health coverage to an employee
A) The provisions relating to renewability of coverage
B) The provisions relating to exclusions
C) The benefits and premiums available under all health insurance coverage for
which the employer is qualified
D) The terms of the insurer's provider agreements - ANSWER-D) The terms of the
insurer's provider agreements
A Health Maintenance Organization (HMO) MUST
A) Be licensed to operate in only one state
B) Be operated by a fully accredited hospital
C) Be federally funded
D) require its providers must be under contract or employment - ANSWER-D)
require its providers must be under contract or employment
Which of the following is the requirement for an individual to perform the duties
of an insurance agent - ANSWER-Be duly licensed
, Which situations does NOT require an agent to provide a suitability statement to
the annuity company
A) When an annuity contract is recommended and sold as a solution to a client's
financial objectives
B) After evaluation of a client's retirement goals, an annuity is proposed and sold
C) When an agent advises a client to purchase a fixed annuity to provide retirement
income and an application is taken
D) When an agent discusses annuities in general with a client, but no specific
recommendation is made - ANSWER-D) When an agent discusses annuities in
general with a client, but no specific recommendation is made
A health insurer in Virginia may NOT discontinue coverage in which of the
following situations
A) Failure to pay premium
B)Insured engaged in fraud
C) Insured no longer resides in the service area
D) Insured's health status has been declined - ANSWER-D) Insured's health status
has been declined
All of the following are examples of insurance advertisement EXCEPT
INSURANCE ACTUAL EXAM2025/2026 WITH
QUESTIONS AND CORRECT ANSWERS |
ALREADY GRADED A+ | GUARANTEED PASS |
VIRGINIA LAWS AND RULES PERTINENT TO
INSURANCE EXAM [BRAND NEW]
Each Long Term Care policy sold in Virginia must include a Free Look provision
that refunds all premiums within _____ days of policy delivery - ANSWER-30
What is the qualification for being considered a small group in Virginia -
ANSWER-2 to 50 members
Individual life insurance policies can charge no more than _____ interest per year
on cash value loans - ANSWER-8%
A Long Term Care policy issues in Virginia must provide coverage for at LEAST -
ANSWER-12 months
Which of the following BEST describes an insurance agent conducting business in
Virginia - ANSWER-An individual who sells, solicits, or negotiates contracts of
insurance
,Which of the following is information that an insurer is NOT expected to provide
to an employer when offering health coverage to an employee
A) The provisions relating to renewability of coverage
B) The provisions relating to exclusions
C) The benefits and premiums available under all health insurance coverage for
which the employer is qualified
D) The terms of the insurer's provider agreements - ANSWER-D) The terms of the
insurer's provider agreements
A Health Maintenance Organization (HMO) MUST
A) Be licensed to operate in only one state
B) Be operated by a fully accredited hospital
C) Be federally funded
D) require its providers must be under contract or employment - ANSWER-D)
require its providers must be under contract or employment
Which of the following is the requirement for an individual to perform the duties
of an insurance agent - ANSWER-Be duly licensed
, Which situations does NOT require an agent to provide a suitability statement to
the annuity company
A) When an annuity contract is recommended and sold as a solution to a client's
financial objectives
B) After evaluation of a client's retirement goals, an annuity is proposed and sold
C) When an agent advises a client to purchase a fixed annuity to provide retirement
income and an application is taken
D) When an agent discusses annuities in general with a client, but no specific
recommendation is made - ANSWER-D) When an agent discusses annuities in
general with a client, but no specific recommendation is made
A health insurer in Virginia may NOT discontinue coverage in which of the
following situations
A) Failure to pay premium
B)Insured engaged in fraud
C) Insured no longer resides in the service area
D) Insured's health status has been declined - ANSWER-D) Insured's health status
has been declined
All of the following are examples of insurance advertisement EXCEPT
