Life and Health Insurance License prep Exam Questions with Correct Answers

Which of the following statements is true regarding accident and health insurance claims that reimburse on an idemnity basis? - ANSWER-Claims can be sent directly to the insured. Tom the agent negotiates an agreement that unreasonably restrains the business of insurance. He has likely commited a violation of insurance law that falls under - ANSWER-Boycott, coercion, and intimidation Viatical settlement proceeds may be subject to the claims of - ANSWER-creditors Once an insured notifies an insurer of a claim, what must the insurer do? - ANSWER-Send out a claim form What action may the Bureau of Insurance take when it finds that a license applicant is not competent or untrustworthy? - ANSWER-decline to issue the license In a long-term care policy issued in Virginia, any provision limiting preexisting conditions may not exceed - ANSWER-6 months aministrative actions taken against an agent must be reported to the State Corporation Commission within how many days of the final disposition - ANSWER-30 In Virginia, once a life insurance policy has been in force for how many years, it becomes incontestable - ANSWER-2