Free Insurance Regulation Practice Questions
Virginia Personal Lines exam (series 11-07) — 169 practice questions.
Subtopics: Regulatory authority, License scope, Examination, License renewal, CE ethics, Appointment, Auto cancellation, Homeowners nonrenewal, Unfair claims practices, Rebating, Misrepresentation, Guaranty association, Fiduciary funds, Penalties, Address change, Twisting, Commission authority, Emergency orders, Knowing violations, Unknowing violations, Equipment malfunction, Restitution, Cease and desist hearing, Violating C&D order, License hearing notice, Reapplying after revocation, Surrendered license, Business entity license action, License discipline grounds, Exam retake wait, Exam registration, Passing score validity, Prior home-state license, Moving to Virginia, Fingerprinting, Service of process, Minimum age, Business entity license, Designated producer change, Revocation and appointments, Referral fees, Licensing exceptions, Assumed names, Acting as agent, Revoked licensee employment, Unlicensed submission penalty, Appointment types, Appointment scope, P&C includes personal lines, License renewal date, Failure to renew, Agency renewal, Felony reporting, Other-state actions, Moving out of Virginia, Nonresident licensing, Nonresident moves, Nonresident termination, Temporary license, Temporary license exam, Appointment deadline, Appointment verification, Invalid appointment, Appointment records, Termination of appointment, Cease solicitation, Termination for cause, Agent response, Reporting immunity, Agent of insurer, Premium paid to agent, Unlicensed insurer, Ocean marine placement, Record retention, Commission examinations, Insurer examinations, Commission payments, Renewal commissions, Sharing commissions, Agent of record change, Service fees, Fees in policy, Fiduciary account, Larceny reporting, False advertising, Defamation, Boycott and coercion, Unfair discrimination, Domestic violence status, Rebating exceptions, Receiving a rebate, Unauthorized signatures, Trade practice investigations, Privacy notices, Insurance consultants, Consultant exemptions, Consultant exam, Consultant contract, Public bodies, CE hours, CE multiple licenses, CE sponsor limit, CE extensions, CE exemption, CE nonresidents, CE carryover, CE termination, Exam requirement, Residency proof, Guaranty limit, Guaranty WC, Guaranty unearned premium, Guaranty time limit, Guaranty exclusions, Guaranty assessments, Guaranty residency, Fair Credit Reporting Act, Gramm-Leach-Bliley, Fraud and false statements, Do Not Call, Terrorism Risk Insurance Act, McCarran-Ferguson Act, Anti-money laundering, CAN-SPAM Act, FCRA reporting periods, FCRA adverse action, FCRA permissible purpose, FCRA disputes, Claims history databases, GLBA opt-out, GLBA privacy notice, GLBA enforcement, Prohibited persons (1033), Prohibited persons (1034), Telemarketing calling hours, Do-Not-Call exceptions, Do-Not-Call registry, History of regulation, Risk retention groups, Purchasing groups, Mandatory flood purchase, NFIP origin, Federal Insurance Office, NAIC role, Personal lines authority, Misrepresentation and advertising, Fraud warning, Guaranty associations
Read the Insurance Regulation study guide
Sample questions & answers
1. Which entity oversees personal lines insurance in Virginia?
The State Corporation Commission's Bureau of Insurance
The State Corporation Commission is charged with executing all insurance laws (Va. Code 38.2-200); its Bureau of Insurance regulates agents and insurers.
2. A Virginia personal lines agent license is designed for selling:
Property and casualty coverage for individuals and families
Personal lines is a separate agent license type covering P&C coverage sold to individuals and families; the P&C license already includes personal lines.
3. To obtain a Virginia personal lines license, a resident applicant must:
Pass the examination prescribed by the Commission
No resident may obtain a personal lines license without passing the Commission-prescribed examination.
4. An individual Virginia agent born in an odd-numbered year renews the license:
Biennially, by the end of the birth month in odd-numbered years
Licenses renew biennially; an agent born in an odd-numbered year has a license that expires at the end of the birth month in odd-numbered years.
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.
