Virginia Insurance License Exam Questions
and Answers
1. What is the maximum amount of continuing education hours for
an agent who been licensed for less than 20 years in Virginia?: 16 hours to
include three hours of law or ethics
2. Any agent broker or counselor is required to notify the
commissioner of insurance of any change of address within how
many days of change: 30 days
3. What type of report would be provided by a consumer reporting
agency con- taining 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?: Investigative consumer report
4. Making a derogatory statement, which is intended to injure a
person in the insurance business is an illegal practice known as::
Defamation
5. When can the Bureau of insurance examine an agents record?:
Anytime
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6
, 6. In addition to other penalties set forth in the code,the specific
penalty to the agent for submitting business without the required license
is:: A fine equal to the first year's commission
7. To satisfy the continuing education requirements an agent who hold
only two licenses is required to complete at least: 24 hours of continuing
education
8. Licensed insurance agent in Virginia are required to notify the
commission of any conviction of felony within: 30 days
9. The bureau of insurance is a division of:: The State Corporation commission
10. What portion of an agent biannual continuing education
requirement must be dedicated to Virginia law and ethics?: At least three
credit hours
11. When must insurance agents renew their appointments in
Virginia?: Must be renewed annually by the insurer
12. Any person who knowing violates a provision of the insurance
code will be fined up to: $5000 per occurrence with no maximum
13. Rebating: sharing something of value with the policy buyer
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and Answers
1. What is the maximum amount of continuing education hours for
an agent who been licensed for less than 20 years in Virginia?: 16 hours to
include three hours of law or ethics
2. Any agent broker or counselor is required to notify the
commissioner of insurance of any change of address within how
many days of change: 30 days
3. What type of report would be provided by a consumer reporting
agency con- taining 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?: Investigative consumer report
4. Making a derogatory statement, which is intended to injure a
person in the insurance business is an illegal practice known as::
Defamation
5. When can the Bureau of insurance examine an agents record?:
Anytime
1/
6
, 6. In addition to other penalties set forth in the code,the specific
penalty to the agent for submitting business without the required license
is:: A fine equal to the first year's commission
7. To satisfy the continuing education requirements an agent who hold
only two licenses is required to complete at least: 24 hours of continuing
education
8. Licensed insurance agent in Virginia are required to notify the
commission of any conviction of felony within: 30 days
9. The bureau of insurance is a division of:: The State Corporation commission
10. What portion of an agent biannual continuing education
requirement must be dedicated to Virginia law and ethics?: At least three
credit hours
11. When must insurance agents renew their appointments in
Virginia?: Must be renewed annually by the insurer
12. Any person who knowing violates a provision of the insurance
code will be fined up to: $5000 per occurrence with no maximum
13. Rebating: sharing something of value with the policy buyer
2/
6
