Practice Virginia-Life-Annuities-and-Health-Insurance Exams, Virginia-Life-Annuities-and-Health-Insurance Exam Dumps Provider
Practice Virginia-Life-Annuities-and-Health-Insurance Exams, Virginia-Life-Annuities-and-Health-Insurance Exam Dumps Provider
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The Virginia Insurance Virginia-Life-Annuities-and-Health-Insurance certification exam is one of the hottest and career-oriented Virginia Life, Annuities, and Health Insurance Examination Series 11-01 (Virginia-Life-Annuities-and-Health-Insurance) exams. With the Virginia Life, Annuities, and Health Insurance Examination Series 11-01 (Virginia-Life-Annuities-and-Health-Insurance) exam you can validate your skills and upgrade your knowledge level. By doing this you can learn new in-demand skills and gain multiple career opportunities. To do this you just need to enroll in the Virginia Insurance Virginia-Life-Annuities-and-Health-Insurance Certification Exam and put all your efforts to pass this important Virginia Insurance Virginia-Life-Annuities-and-Health-Insurance Exam Questions. However, you should keep in mind that to get success in the Virginia Life, Annuities, and Health Insurance Examination Series 11-01 (Virginia-Life-Annuities-and-Health-Insurance) exam is not an easy task.
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Virginia Insurance Virginia Life, Annuities, and Health Insurance Examination Series 11-01 Sample Questions (Q93-Q98):
NEW QUESTION # 93
The benefit supplement attached to a life insurance policy which insures all members of a family is called a:
- A. Survivorship term rider
- B. Children's term rider
- C. Family term rider
- D. Spouse term rider
Answer: C
Explanation:
Virginia Code § 38.2-3109 allows life insurance riders to extend coverage. A family term rider (option C) attaches to a primary policy (e.g., the breadwinner's) and provides term insurance for all family members- spouse and children-under one supplement, often with a single premium. Option A (spouse term rider) covers only the spouse, not children. Option B (children's term rider) insures only children, excluding the spouse. Option D (survivorship term rider) isn't a standard term; "survivorship" typically refers to joint life policies paying at the second death, not family coverage. The study guide likely describes the family term rider as a cost-effective way to insure dependents, with examples showing level term benefits for each member, making C the accurate answer.
NEW QUESTION # 94
A licensee must report an administrative action taken by another state or governmental agency tothe Bureau of Insurance within how many calendar days after final disposition?
- A. 20 days
- B. 45 days
- C. 10 days
- D. 30 days
Answer: D
Explanation:
Virginia Code § 38.2-1826(C) mandates that licensees (agents, brokers, etc.) report administrative actions- such as license revocation or fines by another state or agency-to the Bureau of Insurance within 30 calendar days of the final disposition. "Final disposition" means the conclusion of the action (e.g., final order or settlement). This requirement ensures Virginia regulators can assess the licensee's fitness to hold a license and protect consumers. Option C (30 days) matches this statutory timeline precisely. Option A (10 days) is too short and not supported by Virginia law. Option B (20 days) lacks a basis in the Code or study materials.
Option D (45 days) exceeds the mandated period, risking delayed oversight. The study guide likely emphasizes this 30-day rule as a critical compliance deadline, reinforced by Virginia's alignment with NAIC standards for licensee reporting, making C the definitive answer.
NEW QUESTION # 95
Responsibilities of the life insurance agent in the process of underwriting include all of the following EXCEPT:
- A. Seeking any additional information requested by the insurer
- B. Determining the final rate classification
- C. Notifying the insurer of any material information not in the application
- D. Gathering complete information for the application
Answer: B
Explanation:
Detailed Answer in Step-by-Step Solution:
* Agents assist underwriting by collecting application data (A), obtaining additional info (C), and reporting material facts (D), but determining the final rate classification (B) is the insurer's underwriter' s role, not the agent's.
* Rate classification involves risk assessment, which is beyond an agent's authority.
The Virginia study guide specifies that agents facilitate underwriting by providing accurate information, while the insurer's underwriters set rates based on that data. Reference: Virginia Life, Annuities, and Health Insurance study guide, section on "Underwriting Process."
NEW QUESTION # 96
In the solicitation and sale of Medicare Supplement insurance policies, when must an agent deliver the buyer' s guide?
- A. At the time of application
- B. Only when the purchaser is a first-time buyer
- C. Only when the solicitation involves replacement
- D. Prior to accepting any payment of premium
Answer: A
Explanation:
Detailed Answer in Step-by-Step Solution:
* The buyer's guide for Medicare Supplement insurance must be provided to the consumer at the time of application (B) to ensure they understand the policy's benefits and limitations before committing.
* Option A (replacement only) is incorrect; the guide is required for all sales, though additional notices apply for replacements.
* Option C (prior to payment) is too vague and not a specific requirement.
* Option D (first-time buyer) is not a condition under Virginia or federal rules.
Per the Virginia study guide, agents must deliver the buyer's guide at the time of application for Medicare Supplement policies, as mandated by federal and state regulations to promote informed decisions. Reference:
Virginia Life, Annuities, and Health Insurance study guide, section on "Medicare Supplement Insurance Regulations."
NEW QUESTION # 97
All of the following are elements of an insurable risk EXCEPT:
- A. A large number of similar units
- B. An ability to measure the loss
- C. Speculative risk
- D. Accidental loss
Answer: C
Explanation:
Detailed Answer in Step-by-Step Solution:
* Insurable risks require accidental loss (B), a large number of similar exposure units (C), and measurable loss (D) to allow statistical predictability and premium calculation.
* Speculative risk (A), like gambling or business ventures, involves potential gain or loss and is not insurable, as insurance covers only pure risk (loss only).
The Virginia study guide distinguishes pure risk (insurable) from speculative risk (uninsurable), listing accidental, measurable, and widespread exposure as key criteria. Reference: Virginia Life, Annuities, and Health Insurance study guide, section on "Risk and Insurance."
NEW QUESTION # 98
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