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Free Virginia Life, Annuities, and Health Insurance Examination Series 11-01 Practice Questions

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Exam style questions across every Virginia-Life-Annuities-and-Health-Insurance domain

Last Update 2 days ago
Total Questions : 150

Start with our free Virginia-Life-Annuities-and-Health-Insurance practice questions, carefully crafted to mirror the domains, phrasing, and difficulty of the real Virginia Insurance License exam. Each Virginia-Life-Annuities-and-Health-Insurance exam question comes with a detailed rationale that explains not just which answer is correct but why the others fall short. That's how concepts stick. Use the free set to benchmark yourself: identify your Virginia Insurance weak domains, see where you're losing marks, and build a focused study plan in minutes.

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Question # 11

When a health insurer requires a covered individual to undergo a physical examination, who pays the cost of the examination?

Options:

A.  

The premium payor

B.  

The principal insured individual

C.  

The patient or parent of the patient

D.  

The insurer

Discussion 0
Question # 12

Which type of life insurance policy is designed to pay the balance of a thirty-year home mortgage loan in the event of the insured’s death?

Options:

A.  

30-payment whole life

B.  

30-year decreasing term

C.  

30-year level term

D.  

30-year endowment

Discussion 0
Question # 13

One characteristic of flexible premium life insurance is that payment of the premium can be altered at the option of:

Options:

A.  

The policyowner

B.  

The contingent beneficiary

C.  

The insurer, if the Consumer Price Index has risen at least 10% over the past year

D.  

The insurer, if the prime interest rate falls below 6%

Discussion 0
Question # 14

Which policy provision allows an employee to change from group coverage to an individual life insurance policy?

Options:

A.  

Nonforfeiture

B.  

Conversion

C.  

Assignment

D.  

Incontestability

Discussion 0
Question # 15

What type of insurance pays a lump sum benefit if an insured loses sight in both eyes?

Options:

A.  

Hospital expense

B.  

Accidental death and dismemberment

C.  

Major medical

D.  

Medical expense

Discussion 0
Question # 16

What is the primary role of medical expense and disability insurance?

Options:

A.  

Payment of death benefits

B.  

Protection against the costs of medical care and the loss of earning power

C.  

Provision for dismemberment benefits

D.  

Payment for rehabilitation costs following a life-threatening injury

Discussion 0
Question # 17

For an AD&D policy with an irrevocable beneficiary designation, a change in the beneficiary can ONLY be made:

Options:

A.  

At the time of policy renewal

B.  

When an absolute assignment is attached to the policy

C.  

Upon the death of the current beneficiary

D.  

With the consent of both the policyowner and the beneficiary

Discussion 0
Question # 18

A contractual arrangement that transfers exposure from one insurer to another insurer is a:

Options:

A.  

Reciprocal contract

B.  

Coinsurance contract

C.  

Reinsurance contract

D.  

Captive contract

Discussion 0
Question # 19

An individual purchased an annuity with a series of premium payments continuing over a period of twenty years. The purchase payments were made during the:

Options:

A.  

Liquidation period

B.  

Annuity period

C.  

Period certain

D.  

Accumulation period

Discussion 0
Question # 20

Which is true about disability buy-sell insurance policies?

Options:

A.  

The policyowner may not be the beneficiary

B.  

The insurer pays the benefits to the disabled individual

C.  

The policy proceeds are normally received income tax-free

D.  

The premiums are tax-deductible

Discussion 0

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