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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
Exam Format:	Multiple Choice
Real Exam Qty:	150
Exam Price:	$35 USD
Related Certifications:	Virginia Life and Health Insurance License
Passing Score:	70%
Exam Duration:	150 minutes
Available Languages:	English
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	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 2	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 3	Life Insurance Policy Provisions, Options and Riders: This domain addresses standard contract provisions, beneficiary designations, settlement options, nonforfeiture provisions, policy loans, dividend options, and riders including disability benefits and accelerated death benefits.
Topic 4	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.
Topic 5	Insurance for Senior Citizens and Special Needs Individuals: This domain covers Medicare Parts A-D, Medicare supplement insurance with standardized plans and Virginia regulations, other coverage options for Medicare-eligible individuals, and comprehensive long-term care insurance requirements.
Topic 6	Individual Health Insurance Policy General Provisions: This domain covers uniform required and optional provisions in individual health policies including contract terms, claims procedures, grace periods, renewability classifications, and the free look period.
Topic 7	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 8	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 9	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 10	General Insurance: This domain introduces fundamental insurance concepts including risk management methods, types of insurers, agent authority, and the essential elements and characteristics of insurance contracts including legal doctrines governing agreements.
Topic 11	Dental Insurance: This domain addresses dental insurance including types of treatment, indemnity plan structures, benefit categories, deductibles and coinsurance, and employer group dental plans.

Virginia Insurance Virginia Life, Annuities, and Health Insurance Examination Series 11-01 Sample Questions (Q75-Q80):

NEW QUESTION # 75
All of the following statements about life annuities are true EXCEPT:

A. Benefit payments start after the annuitant's death
B. They can protect against outliving one's financial resources
C. They are a form of insurance since risk sharing is involved
D. They provide for the systematic liquidation of a principal sum

Answer: A

Explanation:
Life annuities provide a stream of income during the annuitant's lifetime. Payments begin after the accumulation period (annuitization) and continue while the annuitant lives. They liquidate a principal sum systematically and protect against longevity risk by pooling risks across many annuitants.
The incorrect statement is B, since benefits start while the annuitant is living, not after death.
Exact Extract (Virginia Annuities Study Guide): "Life annuities are designed to provide income during the lifetime of the annuitant, liquidating principal systematically and protecting against outliving financial resources." Reference (Virginia Documents / Study Guide):
- Virginia Life & Annuities Examination Outline, Section 4.1 Annuity Principles

NEW QUESTION # 76
A certificate of insurance in a group health plan is:

A. A binding contract between the employer and the insurer
B. Evidence of the employee's insurance coverage
C. Issued to the employer for each insured location
D. A binding contract between the employee and the insurer

Answer: B

Explanation:
A certificate of insurance in a group health plan is evidence of the employee's insurance coverage. It provides a summary of the coverage, terms, and benefits the employee is entitled to under the group policy. It is not a contract between the employee and the insurer or between the employer and the insurer. The employer typically holds the master policy, while the certificate is issued to each employee covered under the plan.

NEW QUESTION # 77
Which type of care is covered under Medicare Part A?

A. Custodial care at home
B. Custodial facility care
C. Skilled nursing facility care
D. Intermediate nursing facility care

Answer: C

Explanation:
Medicare Part A typically covers skilled nursing facility care, which includes care provided in a facility for patients who require skilled care following a hospitalization. However, Medicare Part A does not cover intermediate or custodial care, which involves assistance with activities of daily living or care provided in a non-skilled nursing facility.

NEW QUESTION # 78
Which of the following statements is true regarding an insurance agent's license?

A. It must be renewed annually.
B. A separate license must be issued for each insurer the agent represents.
C. It authorizes the agent to transact insurance until otherwise terminated, suspended, or revoked.
D. The license fee is paid to the insurance company.

Answer: C

Explanation:
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.

NEW QUESTION # 79
Which is true about the conversion privilege in term life insurance?

A. The policyowner may convert to permanent life insurance on an attained age basis without evidence of insurability
B. The policyowner may convert to another term policy of the insured's choice
C. The policyowner may convert to an annuity at attained age rates only if evidence of insurability is provided
D. The policyowner may obtain additional term insurance at issue age rates without evidence of insurability

Answer: A

Explanation:
Detailed Answer in Step-by-Step Solution:
* The conversion privilege in term insurance allows conversion to a permanent policy (e.g., whole life) at the insured's current (attained) age without proving insurability (B), typically before the term expires.
* Option A (another term policy) is not standard. Option C (annuity with insurability) is incorrect; conversion is to life insurance. Option D (issue age rates) doesn't apply; rates adjust to attained age.
The Virginia study guide explains that the conversion privilege ensures continued coverage by allowing term policies to convert to permanent ones without medical exams, based on attained age. Reference: Virginia Life, Annuities, and Health Insurance study guide, section on "Term Insurance Features."

NEW QUESTION # 80
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