Virginia Real Estate License (2025) Actual
Exam Questions and Answers A+ Graded
What .contract .term .means .only .one .party .to .a .contract's .promises .are .legally
.enforceable? .- .CORRECT .ANSWER-Unilateral
Mr. .Jones, .the .insured, .committed .suicide .after .the .expiration .of .the .suicide
.clause .in .his .life .insurance .policy. .The .insurer .is .obligated .to: .- .CORRECT
.ANSWER-Pay .the .death .benefit.
The .benefit .that .encourages .the .disabled .policy .owner .to .try .to .return .to .work
.is: .- .CORRECT .ANSWER-Recurrent .disability
Jeff .has .limited .financial .resources, .but .finds .himself .in .a .position .where .he
.needs .a .good .deal .of .protection. .A .__________would .probably .best .suit .his
.needs .at .this .time. .- .CORRECT .ANSWER-Term .policy
Tyler .owns .a .major .medical .policy .with .70/30 .coinsurance .and .a .$3,000
.deductible. .If .he .submits .a .claim .for .$20,000, .how .much .will .he .pay? .-
.CORRECT .ANSWER-$8,100
Life .insurance .applications .require .a .signature .from: .- .CORRECT .ANSWER-The
.agent, .insured, .and .policyowner.
The .cheapest .premium .payment .mode .would .be .on .a .policy .that .is .paid: .-
.CORRECT .ANSWER-Annually
If .an .applicant .misstates .their .age .on .an .insurance .application, .what .does .the
.insurer .do .when .it .is .discovered .at .claim .time? .- .CORRECT .ANSWER-Adjust
.the .claim .benefits .to .reflect .what .he .would .have .been .entitled .to .if .his .real .age
.had .been .given.
Phil .and .Sarah .bought .a .life .policy .in .which .both .are .insured. .Sarah .dies .before
.Phil. .If .the .policy .pays .the .death .benefit .after .Phil .dies, .it .is .a: .- .CORRECT
.ANSWER-Survivorship .life
A .decreasing .term .life .policy .would .be .the .most .appropriate .for: .- .CORRECT
.ANSWER-A .41 .year .old .lawyer .who .wants .a .policy .to .pay .his .mortgage .if .he
.dies
When .an .insured .completed .his .health .policy .application, .his .producer .did .not
.take .a .premium .when .he .submitted .it .to .the .insurer. .When .the .producer
, .delivers .the .policy .to .the .applicant, .he .needs .to .do .all .of .the .following
.EXCEPT: .- .CORRECT .ANSWER-Issue .the .applicant .a .conditional .receipt.
What .type .group .plan .requires .75% .participation? .- .CORRECT .ANSWER-
Contributory
How .much .time .does .a .licensee .have .to .notify .the .Commissioner .of .Insurance
.of .any .change .of .residential, .mailing, .or .business .address? .- .CORRECT
.ANSWER-30 .days
The .services .are .provided .on .a .prepaid .per .person .basis .called .capitation .in: .-
.CORRECT .ANSWER-HMOs
In .life .insurance, .insurable .interest .must .be .present .at .the .time .of: .- .CORRECT
.ANSWER-Application
Mr. .Johnson .is .looking .at .Medicare .Supplement .policies. .These .policies .are
.designed .primarily .to: .- .CORRECT .ANSWER-Provide .benefits .not .covered .by
.Medicare.
If .the .cash .values .of .an .annuity .are .invested .in .securities, .it .is .a: .- .CORRECT
.ANSWER-Variable .annuity
What .is .a .marketing .communication .that .is .oral, .printed, .or .written .and
.designed .to .create .public .interest .in .life .insurance .or .annuities? .- .CORRECT
.ANSWER-Advertisement
What .is .the .minimum .time .required .for .the .basis .of .a .long-term .policy? .-
.CORRECT .ANSWER-12 .consecutive .months
Alex's .life .policy .lapsed, .which .Nonforfeiture .option .would .the .insurer .send .him
.the .value .of .the .policy? .- .CORRECT .ANSWER-Cash .surrender
On .January .3, .an .application .is .submitted .without .the .initial .premium. .The
.insurer .requires .a .medical .exam, .and .it .is .completed .on .January .15. .On
.January .20, .the .insurer .issued .the .policy .standard, .and .the .producer .delivers .it
.on .January .22. .When .is .coverage .effective? .- .CORRECT .ANSWER-January .22,
.after .the .statement .of .good .health .is .signed, .and .the .initial .premium .is .paid.
What .part .of .the .policy .directs .the .insurer .on .the .recipients .of .benefits? .-
.CORRECT .ANSWER-Payment .of .Claims .provision
What .is .the .advantage .of .a .payor .benefit .rider? .- .CORRECT .ANSWER-It
.provides .a .temporary .waiver .of .premium .if .the .person .paying .the .premium
.dies.
Dylan .tells .the .insurer .to .keep .the .dividend .and .apply .it .to .his .next .premium.
.He .is .using .which .dividend .option? .- .CORRECT .ANSWER-Reduction .of
.premium
Exam Questions and Answers A+ Graded
What .contract .term .means .only .one .party .to .a .contract's .promises .are .legally
.enforceable? .- .CORRECT .ANSWER-Unilateral
Mr. .Jones, .the .insured, .committed .suicide .after .the .expiration .of .the .suicide
.clause .in .his .life .insurance .policy. .The .insurer .is .obligated .to: .- .CORRECT
.ANSWER-Pay .the .death .benefit.
The .benefit .that .encourages .the .disabled .policy .owner .to .try .to .return .to .work
.is: .- .CORRECT .ANSWER-Recurrent .disability
Jeff .has .limited .financial .resources, .but .finds .himself .in .a .position .where .he
.needs .a .good .deal .of .protection. .A .__________would .probably .best .suit .his
.needs .at .this .time. .- .CORRECT .ANSWER-Term .policy
Tyler .owns .a .major .medical .policy .with .70/30 .coinsurance .and .a .$3,000
.deductible. .If .he .submits .a .claim .for .$20,000, .how .much .will .he .pay? .-
.CORRECT .ANSWER-$8,100
Life .insurance .applications .require .a .signature .from: .- .CORRECT .ANSWER-The
.agent, .insured, .and .policyowner.
The .cheapest .premium .payment .mode .would .be .on .a .policy .that .is .paid: .-
.CORRECT .ANSWER-Annually
If .an .applicant .misstates .their .age .on .an .insurance .application, .what .does .the
.insurer .do .when .it .is .discovered .at .claim .time? .- .CORRECT .ANSWER-Adjust
.the .claim .benefits .to .reflect .what .he .would .have .been .entitled .to .if .his .real .age
.had .been .given.
Phil .and .Sarah .bought .a .life .policy .in .which .both .are .insured. .Sarah .dies .before
.Phil. .If .the .policy .pays .the .death .benefit .after .Phil .dies, .it .is .a: .- .CORRECT
.ANSWER-Survivorship .life
A .decreasing .term .life .policy .would .be .the .most .appropriate .for: .- .CORRECT
.ANSWER-A .41 .year .old .lawyer .who .wants .a .policy .to .pay .his .mortgage .if .he
.dies
When .an .insured .completed .his .health .policy .application, .his .producer .did .not
.take .a .premium .when .he .submitted .it .to .the .insurer. .When .the .producer
, .delivers .the .policy .to .the .applicant, .he .needs .to .do .all .of .the .following
.EXCEPT: .- .CORRECT .ANSWER-Issue .the .applicant .a .conditional .receipt.
What .type .group .plan .requires .75% .participation? .- .CORRECT .ANSWER-
Contributory
How .much .time .does .a .licensee .have .to .notify .the .Commissioner .of .Insurance
.of .any .change .of .residential, .mailing, .or .business .address? .- .CORRECT
.ANSWER-30 .days
The .services .are .provided .on .a .prepaid .per .person .basis .called .capitation .in: .-
.CORRECT .ANSWER-HMOs
In .life .insurance, .insurable .interest .must .be .present .at .the .time .of: .- .CORRECT
.ANSWER-Application
Mr. .Johnson .is .looking .at .Medicare .Supplement .policies. .These .policies .are
.designed .primarily .to: .- .CORRECT .ANSWER-Provide .benefits .not .covered .by
.Medicare.
If .the .cash .values .of .an .annuity .are .invested .in .securities, .it .is .a: .- .CORRECT
.ANSWER-Variable .annuity
What .is .a .marketing .communication .that .is .oral, .printed, .or .written .and
.designed .to .create .public .interest .in .life .insurance .or .annuities? .- .CORRECT
.ANSWER-Advertisement
What .is .the .minimum .time .required .for .the .basis .of .a .long-term .policy? .-
.CORRECT .ANSWER-12 .consecutive .months
Alex's .life .policy .lapsed, .which .Nonforfeiture .option .would .the .insurer .send .him
.the .value .of .the .policy? .- .CORRECT .ANSWER-Cash .surrender
On .January .3, .an .application .is .submitted .without .the .initial .premium. .The
.insurer .requires .a .medical .exam, .and .it .is .completed .on .January .15. .On
.January .20, .the .insurer .issued .the .policy .standard, .and .the .producer .delivers .it
.on .January .22. .When .is .coverage .effective? .- .CORRECT .ANSWER-January .22,
.after .the .statement .of .good .health .is .signed, .and .the .initial .premium .is .paid.
What .part .of .the .policy .directs .the .insurer .on .the .recipients .of .benefits? .-
.CORRECT .ANSWER-Payment .of .Claims .provision
What .is .the .advantage .of .a .payor .benefit .rider? .- .CORRECT .ANSWER-It
.provides .a .temporary .waiver .of .premium .if .the .person .paying .the .premium
.dies.
Dylan .tells .the .insurer .to .keep .the .dividend .and .apply .it .to .his .next .premium.
.He .is .using .which .dividend .option? .- .CORRECT .ANSWER-Reduction .of
.premium
