WV LIFE INSURANCE LAWS AND RULES
CERTIFICATION EVALUATION EXAM 2026
QUESTIONS WITH ANSWERS GRADED A+
◉ An offer of life insurance by an insurance company in West Virginia
to individuals who are personally invited to apply on the basis of the
offer is known as what type of solicitation/ Answer: Direct response
◉ When a producer is soliciting a client to effect a contract of insurance,
the producer is engaged in. Answer: transacting insurance
◉ Courses are approvedfor continuing education credit by the. Answer:
Insurance Commissioner and the Board of Insurance Agent Education
◉ If a producer tells an applicant that an insurance policy is like a share
of stock, the producer may be guilty of. Answer: misrepresentation
◉ The West Virginia Insurance Commissioner may refuse to renew a
producer's license for all of the following reasons EXCEPT
- violation of an insurance law
- incompetence
,- filing for bankruptcy
- untrustworthiness. Answer: filing for bankruptcy
◉ If a producer has been engaged in an administrative action by any
government agency, within how many days following the final
disposition must the producer report the action to the Insurance
Commissioner/ Answer: 30
◉ Which of the following terms defines the authority given to a
producer to transact business on behalf of the insurer/ Answer:
appointment
◉ An insurance company must do which of the following to terminate
an producer's appointment/ Answer: Send notice of termination to the
Commissioner
◉ A certificate of authority does which of the following/ Answer:
Permits an insurance company to transact business in West Virginia
◉ Which of the following statements is CORRECT about the
replacement of one insurance policy with another/ Answer: It is strictly
regulated and requires full disclosure by both the producer and the
replacing insurance company
, ◉ If the Insurance Department discovers that applicants for an insurance
license intend to produce insurance principally on themselves, their
family, and their property, which of the following will happen/ Answer:
The applicants will not be issued a license
◉ Which of the following parties must provide an insured with proper
disclosure concerning the replacement of an insurance company/
Answer: The producer who sells the new insurance policy
◉ The West Virginia Life and Health Guaranty Association guarantees
life insurance death benefits up to. Answer: $300,000
◉ In West Virginia, the Insurance Commissioner has the power to
penalize a producer for a violation in which of the following ways/
Answer: A fine, only after a hearing
◉ Which activity may result in suspension or revocation of a producer's
license?
- Writing primarily controlled business
- Using the human life value approach
- Issuing a conditional receipt
- Changing one's business address. Answer: Writing primarily controlled
business
CERTIFICATION EVALUATION EXAM 2026
QUESTIONS WITH ANSWERS GRADED A+
◉ An offer of life insurance by an insurance company in West Virginia
to individuals who are personally invited to apply on the basis of the
offer is known as what type of solicitation/ Answer: Direct response
◉ When a producer is soliciting a client to effect a contract of insurance,
the producer is engaged in. Answer: transacting insurance
◉ Courses are approvedfor continuing education credit by the. Answer:
Insurance Commissioner and the Board of Insurance Agent Education
◉ If a producer tells an applicant that an insurance policy is like a share
of stock, the producer may be guilty of. Answer: misrepresentation
◉ The West Virginia Insurance Commissioner may refuse to renew a
producer's license for all of the following reasons EXCEPT
- violation of an insurance law
- incompetence
,- filing for bankruptcy
- untrustworthiness. Answer: filing for bankruptcy
◉ If a producer has been engaged in an administrative action by any
government agency, within how many days following the final
disposition must the producer report the action to the Insurance
Commissioner/ Answer: 30
◉ Which of the following terms defines the authority given to a
producer to transact business on behalf of the insurer/ Answer:
appointment
◉ An insurance company must do which of the following to terminate
an producer's appointment/ Answer: Send notice of termination to the
Commissioner
◉ A certificate of authority does which of the following/ Answer:
Permits an insurance company to transact business in West Virginia
◉ Which of the following statements is CORRECT about the
replacement of one insurance policy with another/ Answer: It is strictly
regulated and requires full disclosure by both the producer and the
replacing insurance company
, ◉ If the Insurance Department discovers that applicants for an insurance
license intend to produce insurance principally on themselves, their
family, and their property, which of the following will happen/ Answer:
The applicants will not be issued a license
◉ Which of the following parties must provide an insured with proper
disclosure concerning the replacement of an insurance company/
Answer: The producer who sells the new insurance policy
◉ The West Virginia Life and Health Guaranty Association guarantees
life insurance death benefits up to. Answer: $300,000
◉ In West Virginia, the Insurance Commissioner has the power to
penalize a producer for a violation in which of the following ways/
Answer: A fine, only after a hearing
◉ Which activity may result in suspension or revocation of a producer's
license?
- Writing primarily controlled business
- Using the human life value approach
- Issuing a conditional receipt
- Changing one's business address. Answer: Writing primarily controlled
business
