Skip to content
CramShare
PremiumPractice exam

Virginia life insurance EXAM 2026-2027 LATEST VERSION QUESTIONS AND VERIFIED CORRECT ANSWERS JUST R

HEAL100 Health Care — exam and revision material · Other

Updated today

Health Care exam material, 21 pages. Originally published on StudyMerit.

Pages
21
Academic year
2025/2026
Language
English

What’s included

Preview 3 of 21 pages

See the first 3 pages exactly as they appear in the document.

Read page 1 as text

1 Exampromax - Stuvia US Exampromax - Stuvia US Virginia Life and Health Exam Review Q uestions and Answers 100% Correct Answers Already Graded A+ Q : What contract term means only one party to a contract's promises are legally enforceable? Ans: Unilateral Q : Mr. Jones, the insured, committed suicide after the expiration of the suicide clause in his life insurance policy. The insurer is obligated to: Ans: Pay the death benefit. Q : The benefit that encourages the disabled policy owner to try to return to work is: Ans: Recurrent disability Q : Jeff has limi ted financial resources, but finds himself in a position where he needs a good deal of protection. A __________would probably best suit his needs at this time. Ans: Term policy Q : Tyler owns a major medical policy with 70/30 coinsurance and a $3 ,000 deductible. If he submits a claim for $20,000, how much will he pay? Ans: $8,100 Q : Life insurance applications require a signature from: Ans: The agent, insured, and policyowner. Q : The cheapest premium payment mode would be on a policy that is paid:

Read page 2 as text

2 Exampromax - Stuvia US Exampromax - Stuvia US Ans: Annually Q : If an applicant misstates their age on an insurance application, what does the insurer do when it is discovered at claim time? Ans: Adjust the claim ben efits to reflect what he would have been entitled to if his real age had been given. Q : Phil and Sarah bought a life policy in which both are insured. Sarah dies before Phil. If the policy pays the death benefit after Phil dies, it is a: Ans: Su rvivorship life Q : A decreasing term life policy would be the most appropriate for: Ans: A 41 year old lawyer who wants a policy to pay his mortgage if he dies Q : When an insured completed his health policy application, his producer did not take a premium when he submitted it to the insurer. When the producer delivers the policy to the applicant, he needs to do all of the following EXCEPT: Ans: Issue the applicant a conditional receipt. Q : What type group plan requires 75% particip ation? Ans: Contributory Q : How much time does a licensee have to notify the Commissioner of Insurance of any change of residential, mailing, or business address? Ans: 30 days Q : The services are provided on a prepaid per person basis called capitation in: Ans: HMOs Q : In life insurance, insurable interest must be present at the time of: Ans: Application

Read page 3 as text

3 Exampromax - Stuvia US Exampromax - Stuvia US Q : Mr. Johnson is looking at Medicare Supplement policies. These policies are designed primarily to: Ans: Provide benefits not covered by Medicare. Q : If the cash values of an annuity are invested in securities, it is a: Ans: Variable annuity Q : What is a marketing communication that is oral, printed, or written and designed to create public interest in life insurance or annuities? Ans: Advertisement Q : What is the minimum time required for the basis of a long - term policy? Ans: 1 2 consecutive months Q : Alex's life policy lapsed, which Nonforfeiture option would the insurer send him the value of the policy? Ans: Cash surrender Q : On January 3, an application is submitted without the initial premium. The insurer requi res a medical exam, and it is completed on January 15. On January 20, the insurer issued the policy standard, and the producer delivers it on January 22. When is coverage effective? Ans: January 22, after the statement of good health is signed, and the initial premium is paid. Q : What part of the policy directs the insurer on the recipients of benefits? Ans: Payment of Claims provision Q : What is the advantage of a payor benefit rider? Ans: It provides a temporary waiver of prem ium if the person paying the premium dies. Q : Dylan tells the insurer to keep the dividend and apply it to his next premium. He is using which dividend option?

18 more pages after this

You’ve read 3 of 21. Unlock once and it stays in your library — and if the rest doesn’t match what you just read, you get a refund.

Others on this course also opened

$11.50

Yours permanently