Virginia Insurance License| Brand
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What is the maximum amount of continuing education hours for an agent who been
licensed for less than 20 years in Virginia? - Answer✅✅16 hours to include three
hours of law or ethics
Any agent broker or counselor is required to notify the commissioner of insurance
of any change of address within how many days of change - Answer✅✅30 days
What type of report would be provided by a consumer reporting agency containing
information on a consumer's character, general reputation, personal characteristics
or mode of living as obtained through personal contact with neighbors, friends or
associates of the consumer? - Answer✅✅Investigative consumer report
Making a derogatory statement, which is intended to injure a person in the
insurance business is an illegal practice known as: - Answer✅✅Defamation
When can the Bureau of insurance examine an agents record? -
Answer✅✅Anytime
, In addition to other penalties set forth in the code,the specific penalty to the agent
for submitting business without the required license is: - Answer✅✅A fine equal to
the first year's commission
To satisfy the continuing education requirements an agent who hold only two
licenses is required to complete at least - Answer✅✅24 hours of continuing
education
Licensed insurance agent in Virginia are required to notify the commission of any
conviction of felony within - Answer✅✅30 days
The bureau of insurance is a division of: - Answer✅✅The State Corporation
commission
What portion of an agent biannual continuing education requirement must be
dedicated to Virginia law and ethics? - Answer✅✅At least three credit hours
When must insurance agents renew their appointments in Virginia? -
Answer✅✅Must be renewed annually by the insurer
Any person who knowing violates a provision of the insurance code will be fined up
to - Answer✅✅$5000 per occurrence with no maximum
Rebating - Answer✅✅sharing something of value with the policy buyer
Twisting - Answer✅✅Misrepresenting a policy in order to induce a policyholder
into purchasing a new one
The state law that protects the privacy rights of applicants for insurance and
requires that insurance companies just close the reasons for rejecting applicant or
other adverse underwriting decisions is the: - Answer✅✅The fair credit reporting
act
An agent paying allowing giving offering are promising to a prospective insurance
buyer is called: - Answer✅✅Rebating
If a Virginia P and L licensed agent who holds a nonresident license and on the other
state have an administrative action taken against him by the nonresident state how
long does the agent have to advise the insurance bureau of the outcome? -
Answer✅✅He must inform it within 30 days
What if the make up off their Virginia property and casualty insurance guaranty
Association - Answer✅✅All admitted insurers
Section of the law that established standards for the collection use and disclosure of
information gathered in connection with insurance transactions by Insurance
institutions or agent - Answer✅✅Fair credit reporting act
, Jonas brothers insurance company guarantees in their commercials that you will
save 20% by switching to their company several customers have complained that
they did not save 20% by switching to the Jonas brothers Jonas brothers could be
found guilty of? - Answer✅✅False advertising
What is the program in Virginia for drivers if they cannot purchase insurance from
standard auto insurers. This program is known as the Virginia auto insurance plan
and can be purchased from: - Answer✅✅Property casualty agent licensed by VAIP
What is the name of the endorsement that will provide coverage for a rental vehicle
if yours is stolen and you have other than collision coverage - Answer✅✅Rental
reimbursement
If an auto the employer provides for you by his business employee covered by your
personal auto policy? - Answer✅✅No
Endorsement to the personal auto policy that changes the contract to allow for
coverage of a vehicle provided for the insureds regular use, but not owned by the
insured or any family member - Answer✅✅Extended non-own auto
An agent required to comply with CE requirements by what date? -
Answer✅✅November 30 of the evening year in the crate biennium
Who does the insurance producer or agent re-present? - Answer✅✅Insurer
An agent must retain record for how much time - Answer✅✅Three years
What actions can an unlicensed person do legally - Answer✅✅Assist with
completion of applications
What structure would be eligible for coverage under a DP3 policy? - Answer✅✅A
dwelling that contains 3 living units
A mobile home can be insured on which policies - Answer✅✅DP1, HO2, HO4
What situation is covered under an earthquake endorsement -
Answer✅✅Mudslides
The deductible on an earthquake policy is - Answer✅✅A percentage of the limit
One and a sure cancels an unendorsed dwelling policy for nonpayment of premium
they must give the insured advanced notice of at least - Answer✅✅10 days
Fair rental value is identified as what coverage? - Answer✅✅Coverage D
New Exam Questions with 100%
Correct Clear Verified Answers| All
Graded A+|Latest Premium
Update|100% Guaranteed Success.
What is the maximum amount of continuing education hours for an agent who been
licensed for less than 20 years in Virginia? - Answer✅✅16 hours to include three
hours of law or ethics
Any agent broker or counselor is required to notify the commissioner of insurance
of any change of address within how many days of change - Answer✅✅30 days
What type of report would be provided by a consumer reporting agency containing
information on a consumer's character, general reputation, personal characteristics
or mode of living as obtained through personal contact with neighbors, friends or
associates of the consumer? - Answer✅✅Investigative consumer report
Making a derogatory statement, which is intended to injure a person in the
insurance business is an illegal practice known as: - Answer✅✅Defamation
When can the Bureau of insurance examine an agents record? -
Answer✅✅Anytime
, In addition to other penalties set forth in the code,the specific penalty to the agent
for submitting business without the required license is: - Answer✅✅A fine equal to
the first year's commission
To satisfy the continuing education requirements an agent who hold only two
licenses is required to complete at least - Answer✅✅24 hours of continuing
education
Licensed insurance agent in Virginia are required to notify the commission of any
conviction of felony within - Answer✅✅30 days
The bureau of insurance is a division of: - Answer✅✅The State Corporation
commission
What portion of an agent biannual continuing education requirement must be
dedicated to Virginia law and ethics? - Answer✅✅At least three credit hours
When must insurance agents renew their appointments in Virginia? -
Answer✅✅Must be renewed annually by the insurer
Any person who knowing violates a provision of the insurance code will be fined up
to - Answer✅✅$5000 per occurrence with no maximum
Rebating - Answer✅✅sharing something of value with the policy buyer
Twisting - Answer✅✅Misrepresenting a policy in order to induce a policyholder
into purchasing a new one
The state law that protects the privacy rights of applicants for insurance and
requires that insurance companies just close the reasons for rejecting applicant or
other adverse underwriting decisions is the: - Answer✅✅The fair credit reporting
act
An agent paying allowing giving offering are promising to a prospective insurance
buyer is called: - Answer✅✅Rebating
If a Virginia P and L licensed agent who holds a nonresident license and on the other
state have an administrative action taken against him by the nonresident state how
long does the agent have to advise the insurance bureau of the outcome? -
Answer✅✅He must inform it within 30 days
What if the make up off their Virginia property and casualty insurance guaranty
Association - Answer✅✅All admitted insurers
Section of the law that established standards for the collection use and disclosure of
information gathered in connection with insurance transactions by Insurance
institutions or agent - Answer✅✅Fair credit reporting act
, Jonas brothers insurance company guarantees in their commercials that you will
save 20% by switching to their company several customers have complained that
they did not save 20% by switching to the Jonas brothers Jonas brothers could be
found guilty of? - Answer✅✅False advertising
What is the program in Virginia for drivers if they cannot purchase insurance from
standard auto insurers. This program is known as the Virginia auto insurance plan
and can be purchased from: - Answer✅✅Property casualty agent licensed by VAIP
What is the name of the endorsement that will provide coverage for a rental vehicle
if yours is stolen and you have other than collision coverage - Answer✅✅Rental
reimbursement
If an auto the employer provides for you by his business employee covered by your
personal auto policy? - Answer✅✅No
Endorsement to the personal auto policy that changes the contract to allow for
coverage of a vehicle provided for the insureds regular use, but not owned by the
insured or any family member - Answer✅✅Extended non-own auto
An agent required to comply with CE requirements by what date? -
Answer✅✅November 30 of the evening year in the crate biennium
Who does the insurance producer or agent re-present? - Answer✅✅Insurer
An agent must retain record for how much time - Answer✅✅Three years
What actions can an unlicensed person do legally - Answer✅✅Assist with
completion of applications
What structure would be eligible for coverage under a DP3 policy? - Answer✅✅A
dwelling that contains 3 living units
A mobile home can be insured on which policies - Answer✅✅DP1, HO2, HO4
What situation is covered under an earthquake endorsement -
Answer✅✅Mudslides
The deductible on an earthquake policy is - Answer✅✅A percentage of the limit
One and a sure cancels an unendorsed dwelling policy for nonpayment of premium
they must give the insured advanced notice of at least - Answer✅✅10 days
Fair rental value is identified as what coverage? - Answer✅✅Coverage D
