COMBINED WV State Life Insurance Exam Questions and Answers 2024 Graded A

Defamation - A brochure including an untrue statement regarding a competitors ability to pay claims off-the-job accident - An accident policy will most likely pay a benefit for Delivery Receipt - The signed document that starts the free look period Conditional Receipt - T applies for a life...

Can you refuse a state board of pharmacy inspection? - No; unlike the federal CSA in which the DEA must either have an administrative warrant or get the PIC or owners consent; the state board of pharmacy may inspect pharmacies without warrants regardless of consent Can they do an inspection anyti...

How many hours must a PIC work in the pharmacy that they are a PIC in? - At least 30 hours if the store is open > 40 hours per week Internship Requirements: Must notify the BOP within how many days of a new job or termination? - 10 days Requirements for licensure as a pharmacist - 1. 18 or ...

Who comprises the WV BoP? - 7 total members: 5 licensed pharmacist for at least 3 years 2 citizen members unrelated to pharmacy Each member must be a resident of the state Who chairs the WV BoP? - Members are appointed by the Governor with the advice and consent of the Senate. How long d...

What are the classes of Property? - Personal Property and Real Property What is personal property? - Generally movable and unattached items. What is a trade fixture? - Personal property used for a person's business. (even if it attached to the real estate) What is Fructus Industriales? - C...

If, after passing the licensing exam, more than twelve months passes before applying for a license, the applicant must then _______________ before he can apply for a license. - Re-take and pass the exam again. Under the Virginia Residential Landlord and Tenant Act, the security deposit, any accru...

Insurance commisioner - •Appointed by the governor •6 year term •must sever all ties with any insurance company except as a claimant. Examination of insurers - •Must examine each domestic insurer at least once every five years, and as often as deemed necessary. •May examine an ali...

30-40-1 - laws are created to protect the public for the common good 30-40-3 - a license is required to be a real estate broker, associate broker or salesperson 30-40-4 - definitions Applicant - any person making application for a license Associate Broker - a broker that works under the ...

Activities That Require a License - anyone engaging in, carrying on, advertising, and acting in the capacity of a broker, associate broker or real estate salesperson Exceptions to Having A License - Appraiser, Mortgage Company, Engineer, Lawyer, Contractor, Surveyor, and Home Inspector; they aren...

Broker is ordering the sign for her new firm. Which is NOT a sign requirement? - Letters at least 2 inches in height The Reason: Every sign shall prominently display the name of the broker, the term "Broker" and the company name, if any, all in letters not less than 1 inch in height. If the bro...

What are the types of fee simple estates? - Fee Simple Absolute Fee Simple Defeasable Fee Simple Absolute - The best type of ownership you can get. Fee Simple Defeasible - Subject to occurrences or non occurrences of specified time. Two types of fee simple defeasible? - Fee simple determi...

Examination of Records - The Commissioner can examine anyone in the business of insurance in the state at anytime. A company shall be examined every 5 years. Notice and Hearing - the Commissioner may call and hold hearings for any purpose deemed necessary. Insurance Commissioner - the commissi...

All members of the West Virginia Real Estate Commission must have been residents of the state for at least the previous___________. - 6 years What are the requirements necessary for a West Virginia salesperson licensee to obtain a broker license - - Served an apprenticeship as a licensed salesper...

The purpose of the West Virginia License Act is to --- limit competition in the real estate industry. protect the public in real estate transactions. regulate the limit for brokerage compensation. impose license fees to generate income. - protect the public in real estate transactions. ...