[Q81-Q105] Full Virginia-Life-Annuities-and-Health-Insurance Practice Test and 152 Unique Questions, Get it Now!

4/5 - (1 vote)

Full Virginia-Life-Annuities-and-Health-Insurance Practice Test and 152 Unique Questions, Get it Now!

The Best Virginia-Life-Annuities-and-Health-Insurance Exam Study Material Premium Files and Preparation Tool

NEW QUESTION 81
No existing agent’s license will be revoked until:

The agent has been afforded a right to a hearing on the charges

At least three violations have been incurred

A jury has decided upon such action

A cease and desist order has been issued

NEW QUESTION 82
Which is true about a joint and survivor annuity?

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.

NEW QUESTION 83
The information which gives an insurer necessary personal data regarding an individual and helps determine whether the individual can be insured under an individual health insurance policy is contained in the:

Enrollment form

Policy schedule

Application

Agent’s statement

NEW QUESTION 84
Which is a lawful cause for cancellation of an individual long-term care insurance policy by the insurer?

Nonpayment of premium

Medicaid eligibility

Insurer insolvency

Nuisance claims

NEW QUESTION 85
An individual health insurance policy must include:

Coverage for pre-existing conditions

A 10-day free look provision

Only the optional uniform provisions

A 60-day grace period

NEW QUESTION 86
What type of insurance pays a lump sum benefit if an insured loses sight in both eyes?

Hospital expense

Accidental death and dismemberment

Major medical

Medical expense

NEW QUESTION 87
All of the following statements about universal life insurance are true EXCEPT:

A mortality charge is subtracted from the cash value accumulations each month

The policy stipulates the amount that will be used for company expenses

Death benefits are taxed as ordinary income

Policy loans affect the amount of interest credited to the policy cash value

NEW QUESTION 88
The injury or damage sustained by the insured is called:

A claim

A peril

A loss

An accident

NEW QUESTION 89
All of the following statements about the installments for a fixed period settlement option in life insurance policies are true EXCEPT:

The amount of the periodic payment is based on the beneficiary’s age

The longer the period of time, the smaller each installment

Each installment payment consists of both principal and interest

The beneficiary may elect this option unless the policyowner has specified otherwise

NEW QUESTION 90
To cancel a health insurance policy, which one of the following must the insured do?

Notify the insurer in writing

Replace the current policy with another

Challenge at least two uniform mandatory provisions

NEW QUESTION 91
A function performed by both the life insurance agent and the home office underwriter is:

Finding new clients

Evaluating risks

Collecting premiums

Reviewing a client’s coverage periodically

NEW QUESTION 92
All of the following statements about the interest ONLY settlement option in life insurance policies are true EXCEPT:

The proceeds of the policy are left with the insurance company

The option can be selected only by the beneficiary

The interest on the principal amount is paid periodically to the beneficiary

At some later date, the principal may be paid under one of the other options

NEW QUESTION 93
The prevention and correction of dental and oral irregularities through the use of mechanical corrective devices is called:

Orthodontics

Endodontics

Periodontics

Prosthodontics

NEW QUESTION 94
Which is true about an adjustable life insurance policy?

The policy while in force can alternate between forms of term life insurance and whole life insurance

The only nonforfeiture option available is cash

No settlement options are available

It is a form of retirement income annuity

NEW QUESTION 95
When a small employer health insurance plan is offered, it must be available:

To all eligible employees who apply

To all eligible employees after a 12-month waiting period

Only to employees who provide evidence of insurability

Only to employees under age 65

NEW QUESTION 96
When the employer pays the premium, covered individuals normally receive tax-free benefits under all of the following group health plans EXCEPT:

Disability income

Major medical

Dental

Health maintenance organization

NEW QUESTION 97
Which is true about ownership of a deferred annuity contract?

All of the participants in a group contract are part-owners

Ownership rights are neither transferable nor assignable

An owner may be the annuitant or the beneficiary or neither

An owner’s rights take effect when the benefit payment phase begins

NEW QUESTION 98
What type of insurance pays a lump sum benefit if an insured loses sight in both eyes?

Hospital expense

Medical expense

Major medical

Accidental death and dismemberment

NEW QUESTION 99
When an HIV test is requested by a health insurer, who signs the consent form?

The insurance agent

The applicant’s physician

The applicant

The medical laboratory technician

NEW QUESTION 100
Including a guaranteed insurability rider on a life insurance policy means that:

The original policy was sold on a non-medical basis.

The company will require evidence of insurability for any future purchase of life insurance.

Any extra premium charged for a health impairment will be discontinued if standard insurability is proved later.

The policyowner may purchase additional life insurance periodically without proving insurability.

NEW QUESTION 101
Which type of life insurance policy is designed to pay the balance of a thirty-year home mortgage loan in the event of the insured’s death?

30-payment whole life

30-year decreasing term

30-year level term

30-year endowment

NEW QUESTION 102
Life insurance policies are required to have all of the following provisions EXCEPT:

The waiver of premium clause

The misstatement of age clause

The grace period clause

The incontestability clause

NEW QUESTION 103
What is the agent’s primary role in underwriting life insurance?

Assuring that the application provides proper information to the insurer

Binding coverage immediately without home office approval