Free Insurance Regulation Practice Questions
Virginia Life, Accident & Health exam (series 11-01) — 154 practice questions.
Subtopics: Regulatory authority, License authority, Exam, Renewal, Continuing education, Appointment, Termination, Unfair trade practices, Rebating, Replacement, Guaranty association, Guaranty association advertising, Fiduciary, Unfair claims, Signatures, Penalties, Replacement notification, Exam retake wait, Exam registration validity, Exam score validity, Prelicensing education, Fingerprinting, Minimum age, Service of process, Definition of solicit, Definition of negotiate, License creates no authority, Limited lines life and health, Exceptions to licensing, Referral fees, Group enrollers, Cease solicitation, Appointment verification, Invalid appointment, Appointment record, Separate appointments, Revocation and appointments, Moving to Virginia, Nonresident license moving, Resident moves away, Nonresident change of state, Reporting felonies, Reporting other actions, Assumed names, Business entity producer, CE hours, CE multiple categories, CE carryover, CE credit hour, CE board, CE extensions, CE waivers, License reinstatement, CE renewal notices, Grounds for discipline, Hearing notice, Reapplying after revocation, Non-willful penalties, Unlicensed submission, Unlicensed insurers, Restitution, Emergency powers, Federal 1033 consent, Fees beyond premium, Change of agent of record, Renewal commissions, Fiduciary account, Premium payments to agents, Agent of insurer, Insurance consultants, Consultant exams, Consultant contracts, False advertising, Boycott and coercion, False statements and entries, Rebating exceptions, Domestic violence, Living organ donors, Military members, Prohibited life underwriting, Blindness, Twisting and misrepresentation, Notice of information practices, Adverse underwriting decisions, Guaranty association limits, Guaranty association summary, Senior designations, Reporting duties, Temporary licenses, Privacy, Federal fraud statute, Fair Credit Reporting Act, Do Not Call, Illustrations, Disclosure, McCarran-Ferguson Act, NAIC, Twisting, CAN-SPAM Act, Advertising, State regulation, HIPAA privacy, Anti-money laundering, Fiduciary duty, Producer licensing, Insurer authorization, Annuity best interest, HIV testing
Read the Insurance Regulation study guide
Sample questions & answers
1. Life and health insurance in Virginia is regulated by:
The State Corporation Commission through its Bureau of Insurance
Virginia insurance is regulated by the State Corporation Commission; its Bureau of Insurance, headed by the Commissioner of Insurance, administers the insurance laws.
2. A producer selling both life and health products in Virginia must hold:
Both a life and annuities license and a health agent license
Virginia issues separate life and annuities and health agent licenses; an agent selling both needs both lines (the 11-01 exam tests both together).
3. Resident applicants in Virginia generally obtain a license by:
Passing the required licensing examination
Resident applicants for the life and annuities and health licenses must pass the examination prescribed by the Commission; no prelicensing course is required for these lines.
4. A Virginia agent was born in March 1991. When does the agent's license expire?
At the end of March in odd-numbered years
Licenses renew biennially by birth month and birth year; an agent born in an odd year renews by the end of the birth month in odd years.
All Life, Accident & Health topics
Practice: Insurance Regulation
Answer choices are shuffled every time, and every question comes with an explanation.
Practice questions are study aids generated for exam preparation and are not actual exam questions. Content is provided for educational purposes and is not legal advice. Verify current statutes, rules, and exam specifications with the Insurance Department and the exam administrator before relying on it.
