WV STATE LIFE INSURANCE ACTUAL PAPER
2026 QUESTIONS WITH SOLUTIONS
GRADED A+
◉employer. Answer: Assignment of group life insurance benefits is
allowed in the State of West Virginia. However, assignment is NOT
allowed to the insured's
spouse
children
creditors
employer
◉d. Answer: An example of an unfair claims settlement practice is
a. making it mandatory that proof of loss be provided for each claim
b. requiring a time limit for submitting a claim
c. paying a claim in a timely matter
d. turning down a claim without providing the basis of denial
◉d. Answer: When recommending a purchase or exchange of an
annuity, the producer or insurer must have a reasonable basis for
,believing that a recommendation is suitable based on all of the
following facts disclosed by an applicant EXCEPT the applicant's
-present income
-net worth
-intended use
-county of residence
◉c. Answer: A producer must notify the Insurance Commissioner
within __ days following the final desposition of an administrative
action by any government agency.
-10
-20
-30
-40
◉c. Answer: Life insurance death benefits up to ___ are guaranteed
by the West Virginia Life and Health Guaranty Association.
-$50,000
-$150,000
-$300,000
-500,000
,◉a. Answer: A producer's license may be suspended or revoked if
the license
-writes primarily controlled business
-engages in replacement of an existing policy
-files for bankruptcy
-does not meet a sales quota
◉d. Answer: S the producer charged a fee for placing an insurance
policy. Under West Virginia law, S must
-report the placement to his primary insurer
-document the fee with the Department of Insurance
-guarantee to the insured that the insurer will accept the risk
-report this act to the Insurance Commissioner
◉d. Answer: What must be signed by both the producer and
applicant when an existing life insurance policy is being reissued
with a reduction in cash value?
-Policy Guide
-Buyer's Summary
-Replacement receipt
-Notice Regarding Replacement
, ◉a. Answer: Life insurance replacement regulation protects the
interests of
-the policyowner
-the producer
-the insurer
-the NAIC
◉d. Answer: Convincing a prospective insured to buy an insurance
policy based on exaggerations is called
-rebating
-intimidation
-twisting
-misrepresentation
◉b. Answer: B the producer sold an insurance contract to a client. B
has engaged in
-consummating an agreement
-transacting insurance
-underwriting insurance
-meeting a sales quota
◉b. Answer: Which of the following is considered to be
misrepresentation?
2026 QUESTIONS WITH SOLUTIONS
GRADED A+
◉employer. Answer: Assignment of group life insurance benefits is
allowed in the State of West Virginia. However, assignment is NOT
allowed to the insured's
spouse
children
creditors
employer
◉d. Answer: An example of an unfair claims settlement practice is
a. making it mandatory that proof of loss be provided for each claim
b. requiring a time limit for submitting a claim
c. paying a claim in a timely matter
d. turning down a claim without providing the basis of denial
◉d. Answer: When recommending a purchase or exchange of an
annuity, the producer or insurer must have a reasonable basis for
,believing that a recommendation is suitable based on all of the
following facts disclosed by an applicant EXCEPT the applicant's
-present income
-net worth
-intended use
-county of residence
◉c. Answer: A producer must notify the Insurance Commissioner
within __ days following the final desposition of an administrative
action by any government agency.
-10
-20
-30
-40
◉c. Answer: Life insurance death benefits up to ___ are guaranteed
by the West Virginia Life and Health Guaranty Association.
-$50,000
-$150,000
-$300,000
-500,000
,◉a. Answer: A producer's license may be suspended or revoked if
the license
-writes primarily controlled business
-engages in replacement of an existing policy
-files for bankruptcy
-does not meet a sales quota
◉d. Answer: S the producer charged a fee for placing an insurance
policy. Under West Virginia law, S must
-report the placement to his primary insurer
-document the fee with the Department of Insurance
-guarantee to the insured that the insurer will accept the risk
-report this act to the Insurance Commissioner
◉d. Answer: What must be signed by both the producer and
applicant when an existing life insurance policy is being reissued
with a reduction in cash value?
-Policy Guide
-Buyer's Summary
-Replacement receipt
-Notice Regarding Replacement
, ◉a. Answer: Life insurance replacement regulation protects the
interests of
-the policyowner
-the producer
-the insurer
-the NAIC
◉d. Answer: Convincing a prospective insured to buy an insurance
policy based on exaggerations is called
-rebating
-intimidation
-twisting
-misrepresentation
◉b. Answer: B the producer sold an insurance contract to a client. B
has engaged in
-consummating an agreement
-transacting insurance
-underwriting insurance
-meeting a sales quota
◉b. Answer: Which of the following is considered to be
misrepresentation?
