WEST VIRGINIA INSURANCE LAW
EXAM QUESTIONS AND ANSWERS
2026 COMPLETE EXAM PREP WITH
VERIFIED SOLUTIONS
◉ commissioner is granted the power and responsibility to:
Answer: affix her official seal to all documents, on 10 day pay the state
treasury on the 10th day of each month, conduct hearing and has
authority to administer oaths, take deposition its, subpoena witnesses
and compel their attendance, examine persons under oath, require
production of any records, report to the governor and legislature on
department operations annually or as requested.
◉ The commissioner must examine each domestic, foriegn, or alein
insurer at least once every ______ years.
Answer: 5
◉ if an individual request a hearing, it must be held within ______ dyas
of recipt of the request unless postponed by mutal agreement.
Answer: 45
◉ How far ahead does the commisioner have to give notice for a hearing
Answer: 15
◉ within _____ of a hearing with the insurance commissioner make a
decision.
,Answer: 45
◉ re-hearing may be granted upon request filed within the
commmisioner ______ of the decision.
Answer: 30
◉ if a insurer refuses to pay losses when due the commisioner can
revoke any licsecense after ____
Answer: 20 days
◉ commissioner may, by order, require the insurer to pay the state WV a
penatlity in a sum not exceeding ____ if doesnt pay within _____ it lead
to REVOKED licscense.
Answer: $10,000 , 30 days
◉ an insurer engaged in anty act with consititues the UNAUTHORIZED
transaction of the insurance may be fines a sum not to exceed____ for
EACH act
Answer: 20,000
◉ stock insurer
Answer: mean an incorporated insurer with capital divided into shares
and owned by its shareholders
◉ mutual insurer
, Answer: an incorporated insurer without permanent capital stock and the
governing body of which elected by POLICYHOLDERS
◉ insurance broker
Answer: represents the buyer
◉ surplus lines licensing
Answer: 200 annual fee to commissioner
submitted a completed license application
passes exam
resident
◉ surplus lines tax whose it paid by
Answer: 4% of gross premium ,an policy holder
◉ Policy law
Answer: total loss by fire, insurers issueing policies providing fire
insurance in real property. liable for the whole amount of insurance
states in the policy. for partial locc by fire or otherwise of the real
peoperty insured the liability will be for the total amount of the partial
loss, not to exceed the whole amount of insurance upon the reak
property as stated in the policy.
◉ comparitive negligence law
EXAM QUESTIONS AND ANSWERS
2026 COMPLETE EXAM PREP WITH
VERIFIED SOLUTIONS
◉ commissioner is granted the power and responsibility to:
Answer: affix her official seal to all documents, on 10 day pay the state
treasury on the 10th day of each month, conduct hearing and has
authority to administer oaths, take deposition its, subpoena witnesses
and compel their attendance, examine persons under oath, require
production of any records, report to the governor and legislature on
department operations annually or as requested.
◉ The commissioner must examine each domestic, foriegn, or alein
insurer at least once every ______ years.
Answer: 5
◉ if an individual request a hearing, it must be held within ______ dyas
of recipt of the request unless postponed by mutal agreement.
Answer: 45
◉ How far ahead does the commisioner have to give notice for a hearing
Answer: 15
◉ within _____ of a hearing with the insurance commissioner make a
decision.
,Answer: 45
◉ re-hearing may be granted upon request filed within the
commmisioner ______ of the decision.
Answer: 30
◉ if a insurer refuses to pay losses when due the commisioner can
revoke any licsecense after ____
Answer: 20 days
◉ commissioner may, by order, require the insurer to pay the state WV a
penatlity in a sum not exceeding ____ if doesnt pay within _____ it lead
to REVOKED licscense.
Answer: $10,000 , 30 days
◉ an insurer engaged in anty act with consititues the UNAUTHORIZED
transaction of the insurance may be fines a sum not to exceed____ for
EACH act
Answer: 20,000
◉ stock insurer
Answer: mean an incorporated insurer with capital divided into shares
and owned by its shareholders
◉ mutual insurer
, Answer: an incorporated insurer without permanent capital stock and the
governing body of which elected by POLICYHOLDERS
◉ insurance broker
Answer: represents the buyer
◉ surplus lines licensing
Answer: 200 annual fee to commissioner
submitted a completed license application
passes exam
resident
◉ surplus lines tax whose it paid by
Answer: 4% of gross premium ,an policy holder
◉ Policy law
Answer: total loss by fire, insurers issueing policies providing fire
insurance in real property. liable for the whole amount of insurance
states in the policy. for partial locc by fire or otherwise of the real
peoperty insured the liability will be for the total amount of the partial
loss, not to exceed the whole amount of insurance upon the reak
property as stated in the policy.
◉ comparitive negligence law
