1|Page
VIRGINIA LAWS AND RULES-LIFE INSURANCE
EXAM LATEST WITH ACTUAL QUESTIONS AND
CORRECT VERIFIED ANSWERS/ALREADY
GRADED A+
All of the following are examples of insurance
advertisement EXCEPT
A) A direct mail brochure announcing specific Accident
and Health insurance plans
B) A newspaper notice announcing free insurance advice
C) A television spot announcing an insurance company's
new product
D) An employer newsletter announcing the availability
of coverage for employees - .....ANSWER ...✔✔ D)
An employee newsletter announcing the availability of
coverage for employees
Under the ACA, health coverage is provided for
dependents up to the age of - .....ANSWER ...✔✔ 26
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Who issues Medicare Supplement policies - .....ANSWER
...✔✔ Insurance companies
Which of the following is a requirement to be eligible
for a group life policy in Virginia
A) Group must be formed for a purpose other than
obtaining insurance
B) Group must designate one of its members to be the
name insured
C) Group must have been formed for obtaining
insurance
D) Group must include at least 5 employers -
.....ANSWER ...✔✔ A) Group must be formed for a
purpose other than obtaining insurance
An agent who willfully violates the insurance code may,
after a hearing, pay UP TO _________ per violation as
a penalty - .....ANSWER ...✔✔ $5,000
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Which of the following coverages does NOT need to be
provided under the ACA?
A)Preventative services as set by the CMS
B) Elective cosmetic surgery
C) Emergency services
D) Pre-existing Conditions - .....ANSWER ...✔✔ B)
Elective cosmetic surgery
Which of the following does NOT qualify as a
creditable coverage under HIPAA
A) Accident plans
B) Individual major medical plans
C) Medicare plans
D)Group major medical plans - .....ANSWER ...✔✔ A)
Accident Plans
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An agent charged an insurance applicant an
administration fee. At what point must the agent give a
written disclosure for this fee? - .....ANSWER ...✔✔
Prior to any services being rendered
Which of the following actions does the Commission in
Virginia have the power to perform - .....ANSWER
...✔✔ Examine insurer solvency
An Accident and Health policy is required to provide
Essential Benefits without annual and lifetime limits when
purchased individually or with group coverage through -
.....ANSWER ...✔✔ the Federal Marketplace
An insurance agent that solicits a Medicare Supplement
policy must disclose to the applicant that the agent -
.....ANSWER ...✔✔ is there to determine what is
appropriate for the purchaser, while taking into
consideration any existing coverage
Which of the following is a requirement for an applicant
to receive an agent license in Virginia - .....ANSWER
...✔✔ Be of good character
VIRGINIA LAWS AND RULES-LIFE INSURANCE
EXAM LATEST WITH ACTUAL QUESTIONS AND
CORRECT VERIFIED ANSWERS/ALREADY
GRADED A+
All of the following are examples of insurance
advertisement EXCEPT
A) A direct mail brochure announcing specific Accident
and Health insurance plans
B) A newspaper notice announcing free insurance advice
C) A television spot announcing an insurance company's
new product
D) An employer newsletter announcing the availability
of coverage for employees - .....ANSWER ...✔✔ D)
An employee newsletter announcing the availability of
coverage for employees
Under the ACA, health coverage is provided for
dependents up to the age of - .....ANSWER ...✔✔ 26
,2|Page
Who issues Medicare Supplement policies - .....ANSWER
...✔✔ Insurance companies
Which of the following is a requirement to be eligible
for a group life policy in Virginia
A) Group must be formed for a purpose other than
obtaining insurance
B) Group must designate one of its members to be the
name insured
C) Group must have been formed for obtaining
insurance
D) Group must include at least 5 employers -
.....ANSWER ...✔✔ A) Group must be formed for a
purpose other than obtaining insurance
An agent who willfully violates the insurance code may,
after a hearing, pay UP TO _________ per violation as
a penalty - .....ANSWER ...✔✔ $5,000
,3|Page
Which of the following coverages does NOT need to be
provided under the ACA?
A)Preventative services as set by the CMS
B) Elective cosmetic surgery
C) Emergency services
D) Pre-existing Conditions - .....ANSWER ...✔✔ B)
Elective cosmetic surgery
Which of the following does NOT qualify as a
creditable coverage under HIPAA
A) Accident plans
B) Individual major medical plans
C) Medicare plans
D)Group major medical plans - .....ANSWER ...✔✔ A)
Accident Plans
, 4|Page
An agent charged an insurance applicant an
administration fee. At what point must the agent give a
written disclosure for this fee? - .....ANSWER ...✔✔
Prior to any services being rendered
Which of the following actions does the Commission in
Virginia have the power to perform - .....ANSWER
...✔✔ Examine insurer solvency
An Accident and Health policy is required to provide
Essential Benefits without annual and lifetime limits when
purchased individually or with group coverage through -
.....ANSWER ...✔✔ the Federal Marketplace
An insurance agent that solicits a Medicare Supplement
policy must disclose to the applicant that the agent -
.....ANSWER ...✔✔ is there to determine what is
appropriate for the purchaser, while taking into
consideration any existing coverage
Which of the following is a requirement for an applicant
to receive an agent license in Virginia - .....ANSWER
...✔✔ Be of good character
