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Virginia Insurance Virginia-Life-Annuities-and-Health-Insurance Exam Syllabus Topics:
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Reference: https://www.prometric.com/files/virginia/1101-Life-and-Health-Insurance.pdf
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Virginia Insurance Virginia Life, Annuities, and Health Insurance Examination Series 11-01 Sample Questions:
Which one of the following procedures is followed by a life insurance company if a misstatement of age is discovered at the insured's death?
- A. All premiums are returned without interest and the policy is canceled
- B. The amount payable under the policy is adjusted to what the premium would have purchased at the correct issue age
- C. The amount payable under the policy is the cash value for the correct age
- D. All premiums are returned with interest and the policy is canceled
Correct Answer: B 🗳️
Explanation: Only visible for TrainingDump members. You can sign-up / login (it's free).
An insurance company that agrees to accept all or a portion of a risk covered by another insurance company is:
- A. A fraternal association
- B. A reinsurance company
- C. An excess and surplus lines insurer
- D. A captive company
Correct Answer: B 🗳️
Explanation: Only visible for TrainingDump members. You can sign-up / login (it's free).
Which statement is true of trade association groups eligible for group medical benefits?
- A. Such associations are formed for the purpose of purchasing insurance
- B. Members of the association are usually in the same industry
- C. Employer contributions are usually waived
- D. The association membership primarily consists of large employers
Correct Answer: B 🗳️
Explanation: Only visible for TrainingDump members. You can sign-up / login (it's free).
Under which one of the following life insurance policies does the protection extend to age 100, while the premiums are paid for a shorter period of time?
- A. Continuous premium whole life
- B. Yearly renewable term
- C. Limited payment whole life
- D. Endowment
Correct Answer: C 🗳️
Explanation: Only visible for TrainingDump members. You can sign-up / login (it's free).
A stock insurance company is wholly owned by its:
- A. Board of Directors
- B. Shareholders
- C. Executive officers
- D. Policyholders
Correct Answer: B 🗳️
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