Virginia-Life-Annuities-and-Health-Insurance Latest Exam Cost - Exam Virginia-Life-Annuities-and-Health-Insurance Cram

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Virginia Insurance Virginia-Life-Annuities-and-Health-Insurance Exam Overview:

Certification Vendor:	Virginia Bureau of Insurance
Exam Name:	VA Life, Annuities & Health Insurance
Exam Number:	11-01
Related Certifications:	Virginia Life and Health Insurance License
Real Exam Qty:	150
Available Languages:	English
Exam Format:	Multiple Choice
Exam Duration:	150 minutes
Passing Score:	70%
Exam Price:	$35 USD
Sample Questions:	Virginia Insurance Virginia-Life-Annuities-and-Health-Insurance Sample Questions
Exam Way:	Computer-based testing at Prometric test centers. Two sections: General Knowledge (100 scoreable + 5 pretest questions) and Virginia-Specific (40 scoreable + 5 pretest questions). Must achieve 70% on both sections to pass. Section 1 must be completed before Section 2 begins.
Pre Condition:	None specified. No requirement to be hired or sponsored by an insurance company before taking the exam.
Official Syllabus URL:	https://www.prometric.com/virginia/insurance

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Virginia Insurance Virginia-Life-Annuities-and-Health-Insurance Exam Syllabus Topics:

Topic	Details
Topic 1	Insurance Regulation: This domain covers Virginia's regulatory framework for insurance agents and companies, including licensing, appointments, continuing education, disciplinary actions, and the State Corporation Commission's authority. It also addresses federal regulations like the Fair Credit Reporting Act and ACA market reforms.
Topic 2	Annuities: This domain covers annuity principles, immediate versus deferred annuities, payment options, product types including fixed and variable annuities, and uses for retirement income and tax-deferred growth.
Topic 3	Medical Plans: This domain examines medical insurance delivery systems including major medical, HMOs, PPOs, and POS plans, along with cost containment strategies, Virginia eligibility requirements, HIPAA provisions, and HSAs.
Topic 4	Federal Tax Considerations for Life Insurance and Annuities: This domain examines federal tax treatment of life insurance and annuities including death benefits, policy loans, modified endowment contracts, non-qualified annuities, IRAs, and Section 1035 exchanges.
Topic 5	Life Insurance Basics: This domain covers insurable interest, personal and business uses of life insurance, methods for determining coverage amounts, policy classifications, premium determination factors, agent sales responsibilities, and the underwriting process.
Topic 6	Life Insurance Policies: This domain examines various life insurance products including term, whole life, universal life, specialized policies, and group life insurance, covering their characteristics, features, and appropriate applications.
Topic 7	Group Health Insurance: This domain covers group health insurance characteristics, eligible groups, underwriting criteria, employee and dependent eligibility, continuation of coverage under COBRA, and small employer plan requirements.
Topic 8	Health Insurance Basics: This domain introduces health insurance fundamentals including covered perils, types of benefits, policy classifications, limited policies, common exclusions, agent responsibilities, underwriting processes, and replacement considerations.
Topic 9	Disability Income and Related Insurance: This domain addresses disability income insurance including benefit qualifications, individual and group policy features, riders, underwriting considerations, business applications, and Social Security and workers compensation benefits.

Virginia Insurance Virginia Life, Annuities, and Health Insurance Examination Series 11-01 Sample Questions (Q223-Q228):

NEW QUESTION # 223
The insurance with other insurers provision in an individual health insurance policy allows an insurer to pay benefits to the insureds on a pro-rata basis when the:

A. Insured has submitted claims in excess of $2,000 during the policy year
B. Insurer was not notified prior to the claim that the insured has other health coverage
C. Policy is within 31 days of the renewal date
D. Policy has entered into the grace period for premium payment

Answer: B

Explanation:
The "insurance with other insurers" provision, addressed in Virginia Code § 38.2-3514, is a coordination of benefits (COB) mechanism in individual health insurance policies designed to prevent over-insurance and duplicate payments when an insured has multiple policies covering the same loss. This provision allows the insurer to prorate benefits-paying a share based on the total coverage-when certain conditions are met.
Option C states that the insurer wasn't notified prior to the claim of other coverage, which triggers proration.
This aligns with standard COB rules: if the insurer isn't informed of other policies, it may assume primary liability initially but adjust to a pro-rata share upon discovery, ensuring equitable payment across insurers.
Option A (within 31 days of renewal) is irrelevant; renewal proximity doesn't affect benefit coordination.
Option B (grace period) relates to premium payment timing, not other insurance, and doesn't trigger proration.
Option D ($2,000 claim threshold) is arbitrary and not a standard condition in Virginia law or study materials for this provision. The study guide likely emphasizes notification as key to COB, as Virginia follows NAIC model regulations requiring disclosure of other coverage (e.g., via application or claim forms). Without prior notice, the insurer applies proration retroactively, making C the correct choice.

NEW QUESTION # 224
If an individual's occupation is considered to be illegal:

A. It must be stated as such on a health insurance application
B. It may result in a denial of a disability income claim
C. It may require a waiver on a disability income insurance policy
D. It results in a substandard rating on a health insurance policy

Answer: B

Explanation:
Disability income insurance excludes coverage for claims resulting from participation in illegal activities or employment considered unlawful. Therefore, disability resulting from an illegal occupation may be denied.
Exact Extract (Virginia Disability Insurance Study Guide): "Policies exclude disabilities arising from illegal occupations or activities. Claims in connection with such occupations may be denied." Reference (Virginia Documents / Study Guide):
- Virginia Health Insurance Examination Outline, Exclusions in Disability Income Policies

NEW QUESTION # 225
Generally, an indemnity plan which covers dental expenses:

A. Only allows insureds to be treated by certain preselected providers
B. Covers preventive care for adults and children once every six months
C. Rarely requires an insured to pay a deductible or coinsurance portion for major services such as crowns
D. Covers all dependent family members living in the insured's household, including dependent parents

Answer: B

Explanation:
Dental indemnity plans reimburse insureds for covered services up to specified amounts. Preventive services such as cleanings, exams, and fluoride treatments are typically covered every six months for both adults and children. These plans generally do not limit members to a network of providers, unlike managed care dental plans, but they do require deductibles and cost-sharing for major restorative work.
Exact Extract (Virginia Dental Plan Filing Requirements): "Preventive dental services-cleanings, exams, fluoride treatments-covered once every six months." Reference (Virginia Documents / Study Guide):
- Virginia SCC Product Checklist: Individual Stand-Alone Dental Plan Organizations
- Virginia Health Insurance Study Guide, Indemnity vs. Managed Care Plans

NEW QUESTION # 226
The purchaser of a deferred annuity normally intends that the income benefits will begin:

A. Upon the death of the annuitant
B. Upon request of the designated beneficiary
C. Within several weeks after the annuity is purchased
D. On a specified date often years after issuance

Answer: D

Explanation:
The purchaser of a deferred annuity typically intends for the income benefits to begin on a specified date, often years after issuance. The purpose of a deferred annuity is to allow the policyholder to accumulate funds during the deferral period, and then begin receiving periodic payments at a later date, such as retirement. This is in contrast to immediate annuities, which start paying out shortly after the annuity is purchased.

NEW QUESTION # 227
Monthly life annuity benefit payments received from a tax-sheltered annuity (TSA) are:

A. Tax free until the investment is recovered
B. Taxed as ordinary income in the year received
C. Tax free to all recipients
D. Tax free to the annuitant but taxable to the beneficiary

Answer: B

Explanation:
Monthly life annuity benefit payments received from a tax-sheltered annuity (TSA) are taxed as ordinary income in the year received. While contributions to a TSA may be made on a tax-deferred basis, the income received upon distribution is subject to income tax, as it represents earnings on the original tax-deferred contributions.

NEW QUESTION # 228
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