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Virginia-Life-Annuities-and-Health-Insurance Virginia Insurance Virginia Life, Annuities, and Health Insurance Examination Series 1101

  • Virginia Insurance
  • 5 free sample questions

About this exam

Virginia-Life-Annuities-and-Health-Insurance is the Virginia Insurance exam Virginia Insurance Virginia Life, Annuities, and Health Insurance Examination Series 1101. Paid practice material for this exam is not available yet, but you can try its free sample questions.

Exam code
Virginia-Life-Annuities-and-Health-Insurance
Vendor
Virginia Insurance
Practice questions
Not available yet
Free sample questions
5
Question bank last updated
Not available yet

Try 2 sample questions

Taken from the free sample set for Virginia-Life-Annuities-and-Health-Insurance.

Question 1

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

  1. Option A:
    The license fee is paid to the insurance company.
  2. Option B:
     It authorizes the agent to transact insurance until otherwise terminated, suspended, or revoked.
  3. Option C:
    It must be renewed annually.
  4. Option D:
    A separate license must be issued for each insurer the agent represents.
Show answer and explanation

Correct answer: B

In Virginia, an insurance agent’s license is governed by the State Corporation Commission’s Bureau of Insurance under Title 38.2 of the Virginia Code. According to Virginia Code § 38.2-1819, once issued, the license authorizes the agent to transact insurance business on behalf of appointed insurers until it is terminated, suspended, or revoked by the Bureau. The license fee is paid to the Bureau of Insurance, not the insurance company (Virginia Code § 38.2-1818), making option A incorrect. Virginia Code § 38.2-1822 specifies that licenses are renewed biennially (every two years), not annually, rendering option C false. Finally, Virginia Code § 38.2-1833 clarifies that an agent needs only one license but must secure an appointment for each insurer they represent, not a separate license per insurer, making option D incorrect. Option B is the only statement consistent with Virginia law, reflecting the license’s ongoing authority unless altered by regulatory action.

Question 2

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

  1. Option A:
    An insured
  2. Option B:
    An employee of the insurer
  3. Option C:
    A consultant
  4. Option D:
    An agent
Show answer and explanation

Correct answer: D

Virginia Code § 38.2-1833 defines an “appointment” as a formal authorization by an insurer for a licensed agent to act on its behalf in transacting insurance. An insured (option A) is the policyholder or beneficiary and has no role in representing the insurer. An employee of the insurer (option B) may work internally but isn’t automatically appointed to sell insurance unless they hold an agent’s license and an appointment, which isn’t implied here. A consultant (option C), under Virginia Code § 38.2- 1837, advises on insurance but doesn’t transact it unless also licensed and appointed as an agent, making this a less direct fit. Only an agent (option D), licensed under Virginia Code § 38.2-1819 and appointed per § 38.2-1833, is required to hold an appointment to represent an insurer.
See all 5 free sample questions