Virginia Laws and Rules Exam Questions with 100% Correct Answers | Verified | Latest Update

Virginia Laws and Rules Exam Questions
with 100% Correct Answers | Verified |
Latest Update

QuestionT1SelectTtheTappropriateTresponse


UnderTtheTHealthTInsuranceTPortabilityTandTAccountabilityTActT(HIPAA
),TallTofTtheTfollowingTqualifyTasTcreditableTcoverageTEXCEPT


accidentTonly
T


individualTmajorTmedical
T


Medicare
T


groupTmajorTmedicalT-TCorrectTAnswer-accidentTonly
T




SelectTtheTappropriateTresponse


AnTagencyThasTmovedTtheTofficeTtoTaTcommercialTofficeTcomplexTlessTt
hanT5TmilesTfromTtheTcurrentTofficeTlocation.TTheTagencyTmustTnotifyTt
heTBureauTofTInsuranceTwithinThowTmanyTcalendarTdaysTofTsuchTchang
eTinTofficeTlocation?


10Tdays
T


20Tdays
T

,30Tdays
T


NoTrequirementTsinceTtheTnewTofficeTisTlessTthanT5TmilesTfromTtheTpri
T

orTofficeTlocationT-TCorrectTAnswer-30Tdays


InsuranceTagentsTMUSTTmaintainTpremiumsTinTaTfiduciaryTcapacityTan
dTremitTthem
atTanyTtimeTtheTagentTdeemsTappropriate
T


inTtheTordinaryTcourseTofTbusiness
T


withinT1Tyear
T


TwithinT6TmonthsTofTreceiptT-TCorrectTAnswer-
inTtheTordinaryTcourseTofTbusiness


SelectTtheTappropriateTresponse


AnTinsurerTmayTpayTcommissionsTdirectlyTtoTanyTpersonTforTservicesTas
TanTagentTprovidedTtheTagent




isTlicensed
T


isTlicensedTandTappointed
T


worksTforTaTlicensedTagencyTevenTifTtheTagentTisTunlicensed
T


ThasTappliedTtoTtakeTtheTlicensingTexaminationT-TCorrectTAnswer-
isTlicensedTandTappointed

, AnTAccidentT&THealthTpolicyTmustTprovideTEssentialTBenefitsTwithoutT
annualTandTlifetimeTlimitsTwhenTpurchased
individuallyTfromTcommercialTproviders
T


throughTMedicare
T


inTaTgroupTplanTfromTcommercialTproviders
T


TindividuallyTorTwithTgroupTcoverageTthroughTtheTFederalTMarketplace
T-TCorrectTAnswer-

individuallyTorTwithTgroupTcoverageTthroughTtheTFederalTMarketplace


InTVirginia,TanTinsuranceTagentTisTBESTTdefinedTas


a personTappointedTbyTmoreTthanToneTinsuranceTcompanyTtoTissueTpo
T T

licies
a personTwhoTsells,Tsolicits,TorTnegotiatesTcontractsTofTinsuranceTorTan
T T

nuity
a personTwhoTplacesTinsuranceTwithTnonadmittedTcompanies
T T


TanTemployeeTofTanTinsuranceTcompanyTwhoThasTtheTauthorityTtoTund
erwriteTinsuranceT-TCorrectTAnswer-
aTpersonTwhoTsells,Tsolicits,TorTnegotiatesTcontractsTofTinsuranceTorTan
nuity


IfTaTlicensedTresidentTinsuranceTagentTmovesToutTofTstate,TwhichTofTth
eTfollowingTwillToccur?
TheTagentTwillTloseTcommissions
T


TheTagent'sTlicenseTshallTterminateTimmediately
T