Virginia life and Health Final Exam Questions and Answers 100% Pass

Final exam-Virginia life and Health
f. f. f. f.




Insurablef.interf.inf.one'sf.ownf.lifef.isf.legallyf.consideredf.asf.-

f. correctf.answer✔ ✔ Generallyf.unlimited



Wheref.dosef.thef.primaryf.fundingf.forf.medicalf.partf.Af.comef.from?f.-f.correctf.answer✔ ✔

Federalf.payrollf.andf.selff.employmentf.taxes



Whatf.wouldf.bef.af.validf.reasonf.forf.namingf.af.trustf.asf.thef.beneficiaryf.off.af.lifef.insurancef.

policyf.asf.opposedf.tof.namingf.anf.individual?f.-f.correctf.answer✔ ✔

Managementf.off.proceedsf.wouldf.bef.provided



Virginiaf.requiresf.thatf.anf.agentf.mustf.complete___f.hoursf.off.continuingf.educationf.onf.thef

subjectf.off.ethicsf.everyf.reporting.f.-f.correctf.answer✔ ✔ 3f.hours
.




Accordingf.tof.thef.needsf.approach,f.anf.emergencyf.reservef.fund'sf.primaryf.purposef.isf.tof.-

f. correctf.answer✔ ✔ coverf.thef.costf.off.unexpectedf.expenses



Whichf.off.thef.followingf.provisionsf.allowsf.anf.insuredf.orf.thef.insurerf.tof.terminatef.thef.polic

yf.-f.correctf.answer✔ ✔ Cancelablef.provision



Howf.muchf.isf.normallyf.paidf.tof.af.policyownerf.inf.af.lifef.(viatical)f.settlement?f.-

f. correctf.answer✔ ✔ Lessf.thanf.thef.deathf.benefit

,Forf.purposesf.off.disabilityf.incomef.insurance,f.earnedf.incomef.wouldf.includef.allf.off.thef.foll

owingf.EXCEPTf.-f.correctf.answer✔ ✔ Dividendsf.



(Salary,f.commissions,f.bonus)



Whichf.typef.off.groupf.planf.isf.excludedf.fromf.HIPAAf.rules?f.-f.correctf.answer✔ ✔

Disabilityf.Income



Howf.doesf.af.continuousf.premiumf.wholef.lifef.policyf.differf.fromf.af.limitedf.paymentf.whilef.lif

ef.policy?f.-f.correctf.answer✔ ✔ Thef.timef.periodf.inf.whichf.premiumsf.willf.bef.paid



COBRAf.extendsf.coveragef.forf.af.survivingf.spousef.butf.atf.af.ratef.notf.moref.thanf._____f.off.

thef.groupf.premium.f.-f.correctf.answer✔ ✔ 102%



Whichf.off.thef.followingf.approvesf.continuingf.educationf.coursesf.forf.creditf.inf.Virginia?f.-

correctf.answer✔ ✔ Statef.Continuingf.Educationf.Board
f.




Whichf.statementf.regardingf.thef.waiverf.off.premiumf.riderf.isf.accurate?f.-f.correctf.answer

✔ ✔ Cashf.paymentf.isf.notf.directlyf.providedf.tof.thef.policyowner



Underf.af.long-termf.caref.inflationf.rider,f.thef.benefitf.levelsf.-f.correctf.answer✔ ✔

periodicallyf.increasef.withoutf.prooff.off.insurability

,Whichf.typicallyf.changesf.atf.thef.re-entryf.optionf.datef.foundf.inf.somef.termf.lifef.policies?f.-

correctf.answer✔ ✔ Premium
f.




Employeesf.generallyf.receivef.Worker'sf.Compensationf.benefitsf.forf.-f.correctf.answer✔

✔ Lostf.wagesf.andf.medicalf.expensesf.duef.tof.af.occupationalf.accident



Whichf.isf.anf.accuratef.descriptionf.off.thef.premiumf.inf.af.gradedf.premiumf.lifef.insurancef.p

olicy?f.-f.correctf.answer✔ ✔

Annualf.increasesf.inf.premiumf.forf.af.statedf.numberf.off.yearsf.thenf.levelsf.offf.forf.thef.rem

ainderf.off.thef.contract



Af.55f.yearf.oldf.recentlyf.receivedf.af.$30,000f.distributionf.fromf.af.previousf.employer'sf.401k

plan,f.minusf.$6,000f.withholding.f.Whichf.federalf.taxesf.applyf.iff.nonef.off.thef.fundsf.weref.r
f.



olledf.over?f.-f.correctf.answer✔ ✔ Incomef.taxesf.plusf.af.10%f.penaltyf.taxf.onf.$30,000



Sylviaf.purchasedf.anf.annuityf.forf.$100,000f.fromf.thef.proceedsf.off.anf.inheritance.f.Nof.furt

herf.paymentsf.aref.permittedf.andf.thef.incomef.streamf.beginsf.inf.15f.years.f.Thisf.contractf.is

a(n)f.-f.correctf.answer✔ ✔ Singlef.Premiumf.Deferredf.Annuity
f.




Medicaref.willf.coverf.af.maximumf.off.howf.manyf.daysf.perf.benefitf.periodf.inf.af.skilledf.nursin

gf.facility?f.-f.correctf.answer✔ ✔ 100f.days

, Af.domesticf.insurancef.companyf.inf.Virginiaf.MUSTf.-f.correctf.answer✔ ✔

Bef.formedf.underf.Virginiaf.insurancef.laws



Whatf.aref.premiumf.forf.groupf.creditf.lifef.insurancef.basedf.on?f.-f.correctf.answer✔ ✔

Flatf.ratef.unrelatedf.tof.thef.borrower'sf.age



Whatf.minimumf.percentagef.off.allf.eligiblef.employeesf.mustf.participatef.inf.af.groupf.lifef.ins

urancef.planf.iff.thef.premiumsf.aref.completelyf.paidf.forf.byf.thef.employer?



0%
f.


50%
f.


75%
f.



100%f.-f.correctf.answer✔ ✔ 100%
f.




Wheref.willf.af.lifef.insurancef.policy'sf.proceedsf.bef.directedf.tof.iff.allf.thef.beneficiariesf.dief.b

eforef.thef.insured?f.-f.correctf.answer✔ ✔ Thef.insured'sf.estate



Underf.whatf.circumstancesf.doesf.anf.accidentf.andf.healthf.insurerf.havef.thef.rightf.tof.reque

stf.anf.autopsy?f.-f.correctf.answer✔ ✔ Whenf.notf.prohibitedf.byf.statef.law



Whichf.off.thesef.isf.NOTf.anf.unfairf.claimsf.settlementf.practice?f.-f.correctf.answer✔ ✔

Offeringf.tof.settlef.af.claimf.byf.arbitration