1 Exampromax - Stuvia US
Virginia Insurance License Questions and
Answers 100% Correct Answers Already
Graded A+
Q: What is the maximum amount of continuing education hours for an
agent who been licensed for less than 20 years in Virginia?
Ans: 16 hours to include three hours of law or ethics
Q: Any agent broker or counselor is required to notify the commissioner of
insurance of any change of address within how many days of change
Exampromax - Stuvia US
Ans: 30 days
Q: 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?
Ans: Investigative consumer report
Q: Making a derogatory statement, which is intended to injure a person in
the insurance business is an illegal practice known as:
Ans: Defamation
Q: When can the Bureau of insurance examine an agents record?
Ans: Anytime
Q: In addition to other penalties set forth in the code,the specific penalty to
the agent for submitting business without the required license is:
Ans: A fine equal to the first year's commission
, 2 Exampromax - Stuvia US
Q: To satisfy the continuing education requirements an agent who hold
only two licenses is required to complete at least
Ans: 24 hours of continuing education
Q: Licensed insurance agent in Virginia are required to notify the
commission of any conviction of felony within
Ans: 30 days
Q: The bureau of insurance is a division of:
Ans: The State Corporation commission
Q: What portion of an agent biannual continuing education requirement
must be dedicated to Virginia law and ethics?
Exampromax - Stuvia US
Ans: At least three credit hours
Q: When must insurance agents renew their appointments in Virginia?
Ans: Must be renewed annually by the insurer
Q: Any person who knowing violates a provision of the insurance code will
be fined up to
Ans: $5000 per occurrence with no maximum
Q: Rebating
Ans: sharing something of value with the policy buyer
Q: Twisting
Ans: Misrepresenting a policy in order to induce a policyholder into purchasing
a new one
Q: The state law that protects the privacy rights of applicants for insurance
and requires that insurance companies just close the reasons for rejecting
applicant or other adverse underwriting decisions is the:
Virginia Insurance License Questions and
Answers 100% Correct Answers Already
Graded A+
Q: What is the maximum amount of continuing education hours for an
agent who been licensed for less than 20 years in Virginia?
Ans: 16 hours to include three hours of law or ethics
Q: Any agent broker or counselor is required to notify the commissioner of
insurance of any change of address within how many days of change
Exampromax - Stuvia US
Ans: 30 days
Q: 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?
Ans: Investigative consumer report
Q: Making a derogatory statement, which is intended to injure a person in
the insurance business is an illegal practice known as:
Ans: Defamation
Q: When can the Bureau of insurance examine an agents record?
Ans: Anytime
Q: In addition to other penalties set forth in the code,the specific penalty to
the agent for submitting business without the required license is:
Ans: A fine equal to the first year's commission
, 2 Exampromax - Stuvia US
Q: To satisfy the continuing education requirements an agent who hold
only two licenses is required to complete at least
Ans: 24 hours of continuing education
Q: Licensed insurance agent in Virginia are required to notify the
commission of any conviction of felony within
Ans: 30 days
Q: The bureau of insurance is a division of:
Ans: The State Corporation commission
Q: What portion of an agent biannual continuing education requirement
must be dedicated to Virginia law and ethics?
Exampromax - Stuvia US
Ans: At least three credit hours
Q: When must insurance agents renew their appointments in Virginia?
Ans: Must be renewed annually by the insurer
Q: Any person who knowing violates a provision of the insurance code will
be fined up to
Ans: $5000 per occurrence with no maximum
Q: Rebating
Ans: sharing something of value with the policy buyer
Q: Twisting
Ans: Misrepresenting a policy in order to induce a policyholder into purchasing
a new one
Q: The state law that protects the privacy rights of applicants for insurance
and requires that insurance companies just close the reasons for rejecting
applicant or other adverse underwriting decisions is the:
