West Virginia Laws and Rules
Pertinent to Insurance
The West Virginia Insurance Commissioner attains office in which of the following ways? - Answer-
Gubernatorial appointment (Governor of WV)
An offer of life insurance by an insurance company in West Virginia to individuals who are personally
invited to apply on the basis of the offer is known as what type of solicitation? - Answer-Direct response
When a producer is soliciting a client to effect a contract of insurance, the producer is engaged in -
Answer-transacting insurance
Courses are approvedfor continuing education credit by the - Answer-Insurance Commissioner and the
Board of Insurance Agent Education
If a producer tells an applicant that an insurance policy is like a share of stock, the producer may be
guilty of - Answer-misrepresentation
The West Virginia Insurance Commissioner may refuse to renew a producer's license for all of the
following reasons EXCEPT
- violation of an insurance law
- incompetence
- filing for bankruptcy
- untrustworthiness - Answer-filing for bankruptcy
, If a producer has been engaged in an administrative action by any government agency, within how many
days following the final disposition must the producer report the action to the Insurance Commissioner?
- Answer-30
Which of the following terms defines the authority given to a producer to transact business on behalf of
the insurer? - Answer-appointment
An insurance company must do which of the following to terminate an producer's appointment? -
Answer-Send notice of termination to the Commissioner
A certificate of authority does which of the following? - Answer-Permits an insurance company to
transact business in West Virginia
Which of the following statements is CORRECT about the replacement of one insurance policy with
another? - Answer-It is strictly regulated and requires full disclosure by both the producer and the
replacing insurance company
If the Insurance Department discovers that applicants for an insurance license intend to produce
insurance principally on themselves, their family, and their property, which of the following will happen?
- Answer-The applicants will not be issued a license
Which of the following parties must provide an insured with proper disclosure concerning the
replacement of an insurance company? - Answer-The producer who sells the new insurance policy
The West Virginia Life and Health Guaranty Association guarantees life insurance death benefits up to -
Answer-$300,000
In West Virginia, the Insurance Commissioner has the power to penalize a producer for a violation in
which of the following ways? - Answer-A fine, only after a hearing
Pertinent to Insurance
The West Virginia Insurance Commissioner attains office in which of the following ways? - Answer-
Gubernatorial appointment (Governor of WV)
An offer of life insurance by an insurance company in West Virginia to individuals who are personally
invited to apply on the basis of the offer is known as what type of solicitation? - Answer-Direct response
When a producer is soliciting a client to effect a contract of insurance, the producer is engaged in -
Answer-transacting insurance
Courses are approvedfor continuing education credit by the - Answer-Insurance Commissioner and the
Board of Insurance Agent Education
If a producer tells an applicant that an insurance policy is like a share of stock, the producer may be
guilty of - Answer-misrepresentation
The West Virginia Insurance Commissioner may refuse to renew a producer's license for all of the
following reasons EXCEPT
- violation of an insurance law
- incompetence
- filing for bankruptcy
- untrustworthiness - Answer-filing for bankruptcy
, If a producer has been engaged in an administrative action by any government agency, within how many
days following the final disposition must the producer report the action to the Insurance Commissioner?
- Answer-30
Which of the following terms defines the authority given to a producer to transact business on behalf of
the insurer? - Answer-appointment
An insurance company must do which of the following to terminate an producer's appointment? -
Answer-Send notice of termination to the Commissioner
A certificate of authority does which of the following? - Answer-Permits an insurance company to
transact business in West Virginia
Which of the following statements is CORRECT about the replacement of one insurance policy with
another? - Answer-It is strictly regulated and requires full disclosure by both the producer and the
replacing insurance company
If the Insurance Department discovers that applicants for an insurance license intend to produce
insurance principally on themselves, their family, and their property, which of the following will happen?
- Answer-The applicants will not be issued a license
Which of the following parties must provide an insured with proper disclosure concerning the
replacement of an insurance company? - Answer-The producer who sells the new insurance policy
The West Virginia Life and Health Guaranty Association guarantees life insurance death benefits up to -
Answer-$300,000
In West Virginia, the Insurance Commissioner has the power to penalize a producer for a violation in
which of the following ways? - Answer-A fine, only after a hearing
