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VIRGINIA LAWS AND RULES - LIFE INSURANCE EXAM LATEST 2026 ACTUAL
EXAM WITH COMPLETE QUESTIONS AND CORRECT DETAILED ANSWERS
(100% VERIFIED ANSWERS) |ALREADY GRADED A+| ||PROFESSOR VERIFIED||
||BRANDNEW!!!||
A producer who allows his or her license to lapse: - ANSWER-
may within 12 months from the renewal date reinstate the license
without retaking the state licensing exam. However, a penalty of
double the unpaid renewal fee will be required
Direct response solicitation - ANSWER-Any offer by an insurance
company to persons in this state (either directly or through a third
party) to effect life or health insurance coverage which enables
the individual to apply for insurance on the basis of the offer
Fingerprinting - ANSWER-The Commissioner requires
fingerprinting and a criminal history background check on all
applicants as a condition of licensing
What must the Commissioner do before holding a hearing that
may lead to the suspension or revocation of the producer's
license? - ANSWER-Give written notice
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Producers must report a change in address or name to the
Insurance Commissioner within ___ days of the change -
ANSWER-30
Producers must report any bankruptcy, felony conviction, or any
other administrative action that occurs in West Virginia or another
jurisdiction to the Insurance Department when? - ANSWER-within
30 days after the final dispostition
What must be included when a producer reports a final disposition
of an administrative action against the producer to the Insurance
Commissioner? - ANSWER-- the initial complaint
- a copy of the order
- other relevant legal documents
Insurers are responsible for submitting an appointment notice to
the Commissioner when? - ANSWER-within 15 days of an agent's
appointment or submission of first insurance application
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An insurer that terminates an agent appointment must notify the
Commissioner when? - ANSWER-within 30 days of the date of
termination
Within 15 days of notifying the Commissioner of a termination: -
ANSWER-The insurer must mail a copy of the notice to the
terminated agent, after which the agent will have 30 days to
submit written comments to the Commissioner
Commissions rule - ANSWER-No person shall pay or accept
commissions to/from an unlicensed individual for the purpose of
selling or negotiating insurance business
If an insurance producer charges a fee for placing an insurance
policy: - ANSWER-the producer must report the placement to his
primary insurance company
What signed document starts the free look period? - ANSWER-
delivery receipt
VIRGINIA LAWS AND RULES - LIFE INSURANCE EXAM LATEST 2026 ACTUAL
EXAM WITH COMPLETE QUESTIONS AND CORRECT DETAILED ANSWERS
(100% VERIFIED ANSWERS) |ALREADY GRADED A+| ||PROFESSOR VERIFIED||
||BRANDNEW!!!||
A producer who allows his or her license to lapse: - ANSWER-
may within 12 months from the renewal date reinstate the license
without retaking the state licensing exam. However, a penalty of
double the unpaid renewal fee will be required
Direct response solicitation - ANSWER-Any offer by an insurance
company to persons in this state (either directly or through a third
party) to effect life or health insurance coverage which enables
the individual to apply for insurance on the basis of the offer
Fingerprinting - ANSWER-The Commissioner requires
fingerprinting and a criminal history background check on all
applicants as a condition of licensing
What must the Commissioner do before holding a hearing that
may lead to the suspension or revocation of the producer's
license? - ANSWER-Give written notice
,2|Page
Producers must report a change in address or name to the
Insurance Commissioner within ___ days of the change -
ANSWER-30
Producers must report any bankruptcy, felony conviction, or any
other administrative action that occurs in West Virginia or another
jurisdiction to the Insurance Department when? - ANSWER-within
30 days after the final dispostition
What must be included when a producer reports a final disposition
of an administrative action against the producer to the Insurance
Commissioner? - ANSWER-- the initial complaint
- a copy of the order
- other relevant legal documents
Insurers are responsible for submitting an appointment notice to
the Commissioner when? - ANSWER-within 15 days of an agent's
appointment or submission of first insurance application
, 3|Page
An insurer that terminates an agent appointment must notify the
Commissioner when? - ANSWER-within 30 days of the date of
termination
Within 15 days of notifying the Commissioner of a termination: -
ANSWER-The insurer must mail a copy of the notice to the
terminated agent, after which the agent will have 30 days to
submit written comments to the Commissioner
Commissions rule - ANSWER-No person shall pay or accept
commissions to/from an unlicensed individual for the purpose of
selling or negotiating insurance business
If an insurance producer charges a fee for placing an insurance
policy: - ANSWER-the producer must report the placement to his
primary insurance company
What signed document starts the free look period? - ANSWER-
delivery receipt
