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Virginia Insurance License Virginia Life, Annuities, and Health Insurance Examination Series 11-01

Virginia Life, Annuities, and Health Insurance Examination Series 11-01

Last Update Apr 29, 2025
Total Questions : 150

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Questions 2

A licensee is NOT required by Virginia law to keep which of the following records?

Options:

A.  

Accounting records of premium payments

B.  

Files of insurance applications on current policies issued

C.  

Policy renewal notices

D.  

Premium quotations of unissued policies

Discussion 0
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Questions 3

An insurer operating in the U.S. but headquartered outside the U.S. is:

Options:

A.  

A foreign insurer

B.  

An alien insurer

C.  

A captive insurer

D.  

A reciprocal insurance exchange

Discussion 0
Questions 4

All of the following are types of insurance policy exchanges that can be made without current taxation EXCEPT:

Options:

A.  

The exchange of an annuity for a life insurance policy

B.  

The exchange of a life insurance policy for an annuity

C.  

An annuity exchanged for another annuity contract

D.  

A life insurance policy exchanged for another life policy

Discussion 0
Questions 5

Under IRS rules, a company normally may do all of the following with funds in a qualified retirement plan EXCEPT:

Options:

A.  

Invest in shares of common stocks

B.  

Make allocations to participating shareholder-employees

C.  

Distribute vested funds to employees who leave

D.  

Repossess the funds for business purposes

Discussion 0

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