Virginia Insurance License Test | Questions with 100% Correct Answers | Verified | Latest Update 2024

What is the maximum amount of continuing education hours for an agent who been licensed for less than 20 years in Virginia? - 16 hours to include three hours of law or ethics Any agent broker or counselor is required to notify the commissioner of insurance of any change of address within how many days of change - 30 days What type of report would be provided by a consumer reporting agency containing information on a consumer's character, general reputation, personal characteristics or mode of living as obtained through personal contact with neighbors, friends or associates of the consumer? - Investigative consumer report Making a derogatory statement, which is intended to injure a person in the insurance business is an illegal practice known as: - Defamation When can the Bureau of insurance examine an agents record? - Anytime In addition to other penalties set forth in the code,the specific penalty to the agent for submitting business without the required license is: - A fine equal to the first year's commission To satisfy the continuing education requirements an agent who hold only two licenses is required to complete at least - 24 hours of continuing education