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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 # 31

Which term refers to the period of time from the beginning of confinement to the beginning of benefits under a long-term care insurance policy?

Options:

A.  

The trial period

B.  

The exclusion period

C.  

The qualifying period

D.  

The elimination period

Discussion 0
Question # 32

If an agent unknowingly violates insurance laws, what is the maximum aggregate penalty for similar violations occurring?

Options:

A.  

$5,000

B.  

$7,500

C.  

$10,000

D.  

$15,000

Discussion 0
Question # 33

When a Medicare Supplement policy is purchased during the open enrollment period:

Options:

A.  

The premium cost may be higher than usual

B.  

The benefits may be lower than usual

C.  

The exclusions may be more numerous than usual

D.  

The policy must be issued regardless of health status

Discussion 0
Question # 34

What kind of rider may be added to an individual disability income insurance policy to increase benefits during periods of price inflation?

Options:

A.  

Inflation guard

B.  

Cost of living

C.  

Price escalation

D.  

Wage protection

Discussion 0
Question # 35

Life insurance policies are required to have all of the following provisions EXCEPT:

Options:

A.  

The waiver of premium clause

B.  

The misstatement of age clause

C.  

The grace period clause

D.  

The incontestability clause

Discussion 0
Question # 36

When the employer pays the premium, covered individuals normally receive tax-free benefits under all of the following group health plans EXCEPT:

Options:

A.  

Disability income

B.  

Major medical

C.  

Dental

D.  

Health maintenance organization

Discussion 0
Question # 37

Anything of value given to produce a contract is the definition of:

Options:

A.  

A grant

B.  

A codicil

C.  

A consideration

D.  

A covenant

Discussion 0
Question # 38

Which is true about an adjustable life insurance policy?

Options:

A.  

The policy while in force can alternate between forms of term life insurance and whole life insurance

B.  

The only nonforfeiture option available is cash

C.  

No settlement options are available

D.  

It is a form of retirement income annuity

Discussion 0
Question # 39

Responsibilities of the life insurance agent in the process of underwriting include all of the following EXCEPT:

Options:

A.  

Gathering complete information for the application

B.  

Determining the final rate classification

C.  

Seeking any additional information requested by the insurer

D.  

Notifying the insurer of any material information not in the application

Discussion 0
Question # 40

Employer-paid premiums for qualified long-term care insurance are:

Options:

A.  

Included in an employee’s gross income

B.  

Deductible as a business expense

C.  

Deductible on an employee’s federal income tax return

D.  

Reimbursed by the employee

Discussion 0

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