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Virginia Life Annuities and Health Insurance Series 1101

Practice Virginia Insurance Virginia Life Annuities and Health Insurance Series 1101 Exam Questions

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  Total 440 Questions
Question No 1

Which of the following statements is true regarding an insurance agent’s license?

Choose the Choices:

The license fee is paid to the insurance company.

It authorizes the agent to transact insurance until otherwise terminated, suspended, or revoked.

It must be renewed annually.

A separate license must be issued for each insurer the agent represents.

B
Question No 2

Which of the following is required to hold an appointment with the insurance company it represents?

Choose the Choices:

An insured

An employee of the insurer

A consultant

An agent

D
Question No 3

The unwritten authority of an agent to perform incidental acts necessary to fulfill the purpose of the agency agreement is

Choose the Choices:

Implied authority

Mandated authority

Express authority

Nonexistent

A
Question No 4

Which is true about a joint and survivor annuity?

Choose the Choices:

The benefits are payable throughout the lifetimes of two or more people.

The benefits cease when the surviving annuitant reaches life expectancy.

It is a combination of an annuity and whole life insurance.

Each annuitant must provide evidence of insurability.

A
Question No 5

What is the effect on a life insurance policy if the insured fails to repay the full value of loans taken against the policy?

Choose the Choices:

The premium is increased.

Dividends are suspended.

The death benefit is reduced.

The policy lapses immediately.

C
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