Final Exam - Virginia Life Only
Question and answers correctly
solved 2025/2026
T circulated false statements that were maliciously critical of an insurer's financial condition. T may be
found guilty of - correct answer ✔defamation
Which benefit is normally payable to a life insurance policyowner when the insured's life expectancy has
been severely limited? - correct answer ✔Accelerated (living) benefit
What is Old Age and Survivors Health Insurance (OASDHI) also known as? - correct answer ✔Social
Security
T is an insurance agent running television ads stating he is licensed for a line of authority, when in fact,
he is not. T has engaged in - correct answer ✔false advertising
With whom may an agent share commissions with? - correct answer ✔A license agent with the same
license type
What would be a disadvantage of naming a trust as beneficiary of a life insurance policy? - correct
answer ✔Trust administration fees would reduce policy proceeds
What effect can a long-term care benefit rider have on a life insurance policy? - correct answer
✔Decreased cash value
What would be considered an advantage of purchasing term life insurance? - correct answer ✔The
initial premium is lower compared to an equivalent amount of whole life insurance
Question and answers correctly
solved 2025/2026
T circulated false statements that were maliciously critical of an insurer's financial condition. T may be
found guilty of - correct answer ✔defamation
Which benefit is normally payable to a life insurance policyowner when the insured's life expectancy has
been severely limited? - correct answer ✔Accelerated (living) benefit
What is Old Age and Survivors Health Insurance (OASDHI) also known as? - correct answer ✔Social
Security
T is an insurance agent running television ads stating he is licensed for a line of authority, when in fact,
he is not. T has engaged in - correct answer ✔false advertising
With whom may an agent share commissions with? - correct answer ✔A license agent with the same
license type
What would be a disadvantage of naming a trust as beneficiary of a life insurance policy? - correct
answer ✔Trust administration fees would reduce policy proceeds
What effect can a long-term care benefit rider have on a life insurance policy? - correct answer
✔Decreased cash value
What would be considered an advantage of purchasing term life insurance? - correct answer ✔The
initial premium is lower compared to an equivalent amount of whole life insurance
