VIRGINIA INSURANCE LICENSE QUESTIONS AND ANSWERS
100% CORRECT ANSWERS ALREADY GRADED A+
What is the maximum amount of continuing education hours for an agent who been
licensed for less than 20 years in Virginia?
Correct answer: 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
Correct answer: 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?
Correct answer: Investigative consumer report
Making a derogatory statement, which is intended to injure a person in the insurance
business is an illegal practice known as:
Correct answer: Defamation
When can the Bureau of insurance examine an agents record?
Correct answer: Anytime
In addition to other penalties set forth in the code,the specic penalty to the agent for
submitting business without the required license is:
Correct answer: A ne equal to the rst year's commission
, To satisfy the continuing education requirements an agent who hold only two licenses is
required to complete at least
Correct answer: 24 hours of continuing education
Licensed insurance agent in Virginia are required to notify the commission of any
conviction of felony within
Correct answer: 30 days
The bureau of insurance is a division of:
Correct answer: The State Corporation commission
What portion of an agent biannual continuing education requirement must be dedicated to
Virginia law and ethics?
Correct answer: At least three credit hours
When must insurance agents renew their appointments in Virginia?
Correct answer: Must be renewed annually by the insurer
Any person who knowing violates a provision of the insurance code will be ned up to
Correct answer: $5000 per occurrence with no maximum
Rebating
Correct answer: sharing something of value with the policy buyer
Twisting
Correct answer: Misrepresenting a policy in order to induce a policyholder into purchasing
a new one
100% CORRECT ANSWERS ALREADY GRADED A+
What is the maximum amount of continuing education hours for an agent who been
licensed for less than 20 years in Virginia?
Correct answer: 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
Correct answer: 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?
Correct answer: Investigative consumer report
Making a derogatory statement, which is intended to injure a person in the insurance
business is an illegal practice known as:
Correct answer: Defamation
When can the Bureau of insurance examine an agents record?
Correct answer: Anytime
In addition to other penalties set forth in the code,the specic penalty to the agent for
submitting business without the required license is:
Correct answer: A ne equal to the rst year's commission
, To satisfy the continuing education requirements an agent who hold only two licenses is
required to complete at least
Correct answer: 24 hours of continuing education
Licensed insurance agent in Virginia are required to notify the commission of any
conviction of felony within
Correct answer: 30 days
The bureau of insurance is a division of:
Correct answer: The State Corporation commission
What portion of an agent biannual continuing education requirement must be dedicated to
Virginia law and ethics?
Correct answer: At least three credit hours
When must insurance agents renew their appointments in Virginia?
Correct answer: Must be renewed annually by the insurer
Any person who knowing violates a provision of the insurance code will be ned up to
Correct answer: $5000 per occurrence with no maximum
Rebating
Correct answer: sharing something of value with the policy buyer
Twisting
Correct answer: Misrepresenting a policy in order to induce a policyholder into purchasing
a new one
