Final exam-
g
Virginia life and Health questions fully solved & u
g g g g g g g g
pdated 2025g
Insurablegintergingone'sgownglifegisglegallygconsideredgasg-
ganswergggGenerallygunlimited
WheregdosegthegprimarygfundinggforgmedicalgpartgAgcomegfrom?g-
ganswergggFederalgpayrollgandgselfgemploymentgtaxes
Whatgwouldgbegagvalidgreasongforgnaminggagtrustgasgthegbeneficiarygo
fgaglifeginsurancegpolicygasgopposedgtognaminggangindividual?g-
ganswergggManagementgofgproceedsgwouldgbegprovided
Virginiagrequiresgthatgangagentgmustgcomplete___ghoursgofgcontinuin
ggeducationgongthegsubjectgofgethicsgeverygreporting.g-
ganswerggg3ghours
Accordinggtogthegneedsgapproach,gangemergencygreservegfund'sgprima
rygpurposegisgtog-ganswergggcovergthegcostgofgunexpectedgexpenses
Whichgofgthegfollowinggprovisionsgallowsganginsuredgorgtheginsurergt
ogterminategthegpolicyg-ganswergggCancelablegprovision
Howgmuchgisgnormallygpaidgtogagpolicyownergingaglifeg(viatical)gsettle
ment?g-ganswergggLessgthangthegdeathgbenefit
,Forgpurposesgofgdisabilitygincomeginsurance,gearnedgincomegwouldgi
ncludegallgofgthegfollowinggEXCEPTg-ganswergggDividendsg
(Salary,gcommissions,gbonus)
WhichgtypegofggroupgplangisgexcludedgfromgHIPAAgrules?g-
ganswergggDisabilitygIncome
Howgdoesgagcontinuousgpremiumgwholeglifegpolicygdiffergfromgaglimit
edgpaymentgwhileglifegpolicy?g-
ganswergggThegtimegperiodgingwhichgpremiumsgwillgbegpaid
COBRAgextendsgcoveragegforgagsurvivinggspousegbutgatgagrategnotgmo
regthang_____gofgtheggroupgpremium.g-ganswerggg102%
Whichgofgthegfollowinggapprovesgcontinuinggeducationgcoursesgforgc
reditgingVirginia?g-ganswergggStategContinuinggEducationgBoard
Whichgstatementgregardinggthegwaivergofgpremiumgridergisgaccurate?
g-ganswergggCashgpaymentgisgnotgdirectlygprovidedgtogthegpolicyowner
Undergaglong-termgcareginflationgrider,gthegbenefitglevelsg-
ganswergggperiodicallygincreasegwithoutgproofgofginsurability
,Whichgtypicallygchangesgatgthegre-
entrygoptiongdategfoundgingsomegtermglifegpolicies?g-
ganswergggPremium
EmployeesggenerallygreceivegWorker'sgCompensationgbenefitsgforg-
ganswergggLostgwagesgandgmedicalgexpensesgduegtogagoccupationalgacc
ident
Whichgisgangaccurategdescriptiongofgthegpremiumgingaggradedgpremiu
mglifeginsurancegpolicy?g-
ganswergggAnnualgincreasesgingpremiumgforgagstatedgnumbergofgyearsgt
henglevelsgoffgforgthegremaindergofgthegcontract
Ag55gyeargoldgrecentlygreceivedgag$30,000gdistributiongfromgagpreviou
sgemployer'sg401kgplan,gminusg$6,000gwithholding.gWhichgfederalgta
xesgapplygifgnonegofgthegfundsgweregrolledgover?g-
ganswergggIncomegtaxesgplusgag10%gpenaltygtaxgong$30,000
Sylviagpurchasedgangannuitygforg$100,000gfromgthegproceedsgofgangin
heritance.gNogfurthergpaymentsgaregpermittedgandgthegincomegstrea
mgbeginsging15gyears.gThisgcontractgisga(n)g-
ganswergggSinglegPremiumgDeferredgAnnuity
Medicaregwillgcovergagmaximumgofghowgmanygdaysgpergbenefitgperio
dgingagskilledgnursinggfacility?g-ganswerggg100gdays
, AgdomesticginsurancegcompanygingVirginiagMUSTg-
ganswergggBegformedgundergVirginiaginsuranceglaws
Whatgaregpremiumgforggroupgcreditglifeginsurancegbasedgon?g-
ganswergggFlatgrategunrelatedgtogthegborrower'sgage
Whatgminimumgpercentagegofgallgeligiblegemployeesgmustgparticipat
egingaggroupglifeginsurancegplangifgthegpremiumsgaregcompletelygpaidgf
orgbygthegemployer?
g 0%
g 50%
g 75%
g 100%g-ganswerggg100%
Wheregwillgaglifeginsurancegpolicy'sgproceedsgbegdirectedgtogifgallgtheg
beneficiariesgdiegbeforegtheginsured?g-ganswergggTheginsured'sgestate
Undergwhatgcircumstancesgdoesgangaccidentgandghealthginsurerghaveg
thegrightgtogrequestgangautopsy?g-
ganswergggWhengnotgprohibitedgbygstateglaw
WhichgofgthesegisgNOTgangunfairgclaimsgsettlementgpractice?g-
ganswergggOfferinggtogsettlegagclaimgbygarbitration
g
Virginia life and Health questions fully solved & u
g g g g g g g g
pdated 2025g
Insurablegintergingone'sgownglifegisglegallygconsideredgasg-
ganswergggGenerallygunlimited
WheregdosegthegprimarygfundinggforgmedicalgpartgAgcomegfrom?g-
ganswergggFederalgpayrollgandgselfgemploymentgtaxes
Whatgwouldgbegagvalidgreasongforgnaminggagtrustgasgthegbeneficiarygo
fgaglifeginsurancegpolicygasgopposedgtognaminggangindividual?g-
ganswergggManagementgofgproceedsgwouldgbegprovided
Virginiagrequiresgthatgangagentgmustgcomplete___ghoursgofgcontinuin
ggeducationgongthegsubjectgofgethicsgeverygreporting.g-
ganswerggg3ghours
Accordinggtogthegneedsgapproach,gangemergencygreservegfund'sgprima
rygpurposegisgtog-ganswergggcovergthegcostgofgunexpectedgexpenses
Whichgofgthegfollowinggprovisionsgallowsganginsuredgorgtheginsurergt
ogterminategthegpolicyg-ganswergggCancelablegprovision
Howgmuchgisgnormallygpaidgtogagpolicyownergingaglifeg(viatical)gsettle
ment?g-ganswergggLessgthangthegdeathgbenefit
,Forgpurposesgofgdisabilitygincomeginsurance,gearnedgincomegwouldgi
ncludegallgofgthegfollowinggEXCEPTg-ganswergggDividendsg
(Salary,gcommissions,gbonus)
WhichgtypegofggroupgplangisgexcludedgfromgHIPAAgrules?g-
ganswergggDisabilitygIncome
Howgdoesgagcontinuousgpremiumgwholeglifegpolicygdiffergfromgaglimit
edgpaymentgwhileglifegpolicy?g-
ganswergggThegtimegperiodgingwhichgpremiumsgwillgbegpaid
COBRAgextendsgcoveragegforgagsurvivinggspousegbutgatgagrategnotgmo
regthang_____gofgtheggroupgpremium.g-ganswerggg102%
Whichgofgthegfollowinggapprovesgcontinuinggeducationgcoursesgforgc
reditgingVirginia?g-ganswergggStategContinuinggEducationgBoard
Whichgstatementgregardinggthegwaivergofgpremiumgridergisgaccurate?
g-ganswergggCashgpaymentgisgnotgdirectlygprovidedgtogthegpolicyowner
Undergaglong-termgcareginflationgrider,gthegbenefitglevelsg-
ganswergggperiodicallygincreasegwithoutgproofgofginsurability
,Whichgtypicallygchangesgatgthegre-
entrygoptiongdategfoundgingsomegtermglifegpolicies?g-
ganswergggPremium
EmployeesggenerallygreceivegWorker'sgCompensationgbenefitsgforg-
ganswergggLostgwagesgandgmedicalgexpensesgduegtogagoccupationalgacc
ident
Whichgisgangaccurategdescriptiongofgthegpremiumgingaggradedgpremiu
mglifeginsurancegpolicy?g-
ganswergggAnnualgincreasesgingpremiumgforgagstatedgnumbergofgyearsgt
henglevelsgoffgforgthegremaindergofgthegcontract
Ag55gyeargoldgrecentlygreceivedgag$30,000gdistributiongfromgagpreviou
sgemployer'sg401kgplan,gminusg$6,000gwithholding.gWhichgfederalgta
xesgapplygifgnonegofgthegfundsgweregrolledgover?g-
ganswergggIncomegtaxesgplusgag10%gpenaltygtaxgong$30,000
Sylviagpurchasedgangannuitygforg$100,000gfromgthegproceedsgofgangin
heritance.gNogfurthergpaymentsgaregpermittedgandgthegincomegstrea
mgbeginsging15gyears.gThisgcontractgisga(n)g-
ganswergggSinglegPremiumgDeferredgAnnuity
Medicaregwillgcovergagmaximumgofghowgmanygdaysgpergbenefitgperio
dgingagskilledgnursinggfacility?g-ganswerggg100gdays
, AgdomesticginsurancegcompanygingVirginiagMUSTg-
ganswergggBegformedgundergVirginiaginsuranceglaws
Whatgaregpremiumgforggroupgcreditglifeginsurancegbasedgon?g-
ganswergggFlatgrategunrelatedgtogthegborrower'sgage
Whatgminimumgpercentagegofgallgeligiblegemployeesgmustgparticipat
egingaggroupglifeginsurancegplangifgthegpremiumsgaregcompletelygpaidgf
orgbygthegemployer?
g 0%
g 50%
g 75%
g 100%g-ganswerggg100%
Wheregwillgaglifeginsurancegpolicy'sgproceedsgbegdirectedgtogifgallgtheg
beneficiariesgdiegbeforegtheginsured?g-ganswergggTheginsured'sgestate
Undergwhatgcircumstancesgdoesgangaccidentgandghealthginsurerghaveg
thegrightgtogrequestgangautopsy?g-
ganswergggWhengnotgprohibitedgbygstateglaw
WhichgofgthesegisgNOTgangunfairgclaimsgsettlementgpractice?g-
ganswergggOfferinggtogsettlegagclaimgbygarbitration
