FINAL EXAM – VIRGINIA LIFE AND HEALTH
PRACTICE EXAM WITH CORRECT ACTUAL
QUESTIONS AND CORRECTLY WELL
DEFINED ANSWERS LATEST ALREADY
GRADED A+ 2025 - 2026
Misrepresenting pertinent policy provisions relating to
coverage after a loss is a(n) - ANSWERS-unfair claims
settlement practice
Laura has an employer-based preventative health care plan
that focuses on an enrollee's problems, such as drug abuse
or stress. These plans are called - ANSWERS-Wellness
programs
Which of the following provisions permits an insurer to
return a portion of the premium and pay benefits on a pro
rata basis if it finds that an insured has duplicate coverage? -
ANSWERS-Insurance with other insurers
,Every ____ year(s), an agent's license in Virginia must be
renewed. - ANSWERS-two
Which of the following statements about the installments
for a fixed period settlement option in life insurance policies
is NOT true? - ANSWERS-The periodic payment amount is
determined by the beneficiary's age
In a speech to a local association, an agent incorrectly stated
that XYZ Insurance Company is in financial difficulty and not
paying claims. The agent may be guilty of - ANSWERS-
Defamation
Chuck and Shaquille are both licensed agents in the same
line of insurance. Chuck provides Shaquille with a referral
that results in a sale. Commissions on this sale will likely be
- ANSWERS-shared by both agents
In Virginia, once a life insurance policy has been in force for
___ year(s), it becomes incontestable. - ANSWERS-2
A licensee who must complete continuing education as a
requirement for license renewal must do so every ___
year(s). - ANSWERS-2
, The ________ is required to notify the Bureau of Insurance
of a licensee's change of name or address - ANSWERS-
licensee
An agent must maintain customer records for ___ year(s)
following the completion date of the insurance transaction.
- ANSWERS-5
When an insurer discovers (during the claim process) that
the insured's age was accidentally misstated on the life
insurance application, the insurer will likely - ANSWERS-pay
an amount the premiums would have purchased at the
insured's actual age
Which of the following does NOT fall under "hospital care"
in a typical health maintenance organization (HMO) plan? -
ANSWERS-Private duty nursing
An agent MUST notify the Bureau of Insurance for -
ANSWERS-conducting business under an assumed name
A Guaranteed Renewable provision allows - ANSWERS-
premiums which can only be increased per rate class
PRACTICE EXAM WITH CORRECT ACTUAL
QUESTIONS AND CORRECTLY WELL
DEFINED ANSWERS LATEST ALREADY
GRADED A+ 2025 - 2026
Misrepresenting pertinent policy provisions relating to
coverage after a loss is a(n) - ANSWERS-unfair claims
settlement practice
Laura has an employer-based preventative health care plan
that focuses on an enrollee's problems, such as drug abuse
or stress. These plans are called - ANSWERS-Wellness
programs
Which of the following provisions permits an insurer to
return a portion of the premium and pay benefits on a pro
rata basis if it finds that an insured has duplicate coverage? -
ANSWERS-Insurance with other insurers
,Every ____ year(s), an agent's license in Virginia must be
renewed. - ANSWERS-two
Which of the following statements about the installments
for a fixed period settlement option in life insurance policies
is NOT true? - ANSWERS-The periodic payment amount is
determined by the beneficiary's age
In a speech to a local association, an agent incorrectly stated
that XYZ Insurance Company is in financial difficulty and not
paying claims. The agent may be guilty of - ANSWERS-
Defamation
Chuck and Shaquille are both licensed agents in the same
line of insurance. Chuck provides Shaquille with a referral
that results in a sale. Commissions on this sale will likely be
- ANSWERS-shared by both agents
In Virginia, once a life insurance policy has been in force for
___ year(s), it becomes incontestable. - ANSWERS-2
A licensee who must complete continuing education as a
requirement for license renewal must do so every ___
year(s). - ANSWERS-2
, The ________ is required to notify the Bureau of Insurance
of a licensee's change of name or address - ANSWERS-
licensee
An agent must maintain customer records for ___ year(s)
following the completion date of the insurance transaction.
- ANSWERS-5
When an insurer discovers (during the claim process) that
the insured's age was accidentally misstated on the life
insurance application, the insurer will likely - ANSWERS-pay
an amount the premiums would have purchased at the
insured's actual age
Which of the following does NOT fall under "hospital care"
in a typical health maintenance organization (HMO) plan? -
ANSWERS-Private duty nursing
An agent MUST notify the Bureau of Insurance for -
ANSWERS-conducting business under an assumed name
A Guaranteed Renewable provision allows - ANSWERS-
premiums which can only be increased per rate class
