Virginia Personal Lines Licensing | 2025/2026 | 60+ Insurance Regulation Q&A | Admitted vs Non-Admitted, TRIA, FAIR Plans

This document contains over 60 up-to-date, fully answered and verified questions specific to the Insurance Regulation section of the Virginia Personal Lines Agent Licensing Exam for the 2025/2026 academic year. Structured for optimal comprehension, this guide breaks down complex regulatory content into easy-to-understand exam-style questions and accurate answers aligned with current legal and policy frameworks in the Commonwealth of Virginia. The material thoroughly covers key topics such as: Responsibilities of the Insurance Commissioner Admitted vs Non-Admitted and Domestic, Foreign, Alien Insurers Surplus lines and distribution systems (exclusive agency, direct writer, independent agency) Key federal acts: McCarran-Ferguson, TRIA, CAN-SPAM, Gramm-Leach-Bliley Market conduct practices (e.g., rebating, twisting, defamation, coercion) Consumer protection plans like FAIR and Guaranty Plans This guide is especially beneficial for: Students in Risk Management, Business Law, Insurance, Public Administration, or Finance Professionals preparing for the Virginia Personal Lines Agent License Career switchers entering the insurance, financial services, or compliance industries With real exam terminology and relevant examples, this resource enhances both legal understanding and practical readiness. Whether used as a focused refresher or as a key study aid, it provides everything needed to master the insurance regulatory landscape required by Virginia licensing standards. Keywords: Virginia personal lines, insurance regulation, admitted insurers, surplus lines, TRIA, FAIR plan, insurance exam 2025, licensing questions, independent agency, direct writer, Gramm-Leach-Bliley Act, rebating, twisting, defamation, guaranty fund, state insurance law, agent authority