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Free Virginia-Life-Annuities-and-Health-Insurance Exam Braindumps
Virginia Life, Annuities, and Health Insuranceination Series 1101 Questions 141–145 (page: 30)

Updated On: 10-Feb-2026
Page 30 of 89
PDF with 440 Questions

Short-term group disability income insurance:

  1. Usually provides benefits expressed as a percentage of the insured's normal weekly wage, up to a specified weekly maximum
  2. Usually coordinates the amount of benefits paid with disability benefits received under Social Security
  3. Often has a benefit period extending up to a maximum of ten years
  4. Frequently provides coverage through age 65 for insureds who are over 55 when they become disabled

Answer(s): A

Explanation:

Virginia exam materials describe standard STD plan design as wage-replacement for a short duration with a weekly cap; integration with Social Security and multi-year benefit periods are characteristics of long-term disability (LTD), not STD. Exact extract (Study Guide): "Short-Term Disability (STD) pays weekly benefits, typically 50%­60% of earnings, subject to a weekly maximum, for a short duration (commonly up to 13­26 weeks)." "Coordination with Social Security benefits is generally a feature of LTD, not STD."


Reference:

Virginia Life, Annuities, and Health Licensing Examination Study Guide/Content Outline-- Disability Income (Short-Term vs. Long-Term Disability); Group Disability Insurance plan features (Virginia exam outline).



At the request of a small group medical plan policyholder the insurer must disclose all of the following EXCEPT:

  1. The insurer's right to increase premium rates
  2. The insurer's expenses
  3. The renewability provisions
  4. All available benefits

Answer(s): B

Explanation:

Virginia small-group medical insurance disclosure rules require insurers to inform policyholders of renewability provisions, available benefits, and rights related to premium rate increases. However, insurers are not required to disclose their business operating expenses. Exact extract: "At the request of the policyholder, the insurer shall disclose the insurer's right to increase premium rates, the renewability provisions, and all available benefits."


Reference:

Virginia Administrative Code, Small Employer Group Health Insurance Provisions.
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A life insurance agent who receives a premium payment from an applicant must:

  1. Keep the funds in a separate account until the applicant's policy is issued
  2. Submit the premium payment to the insurer in a timely manner
  3. Instruct the applicant to mail the premium directly to the insurer
  4. Hold the premium payment until the policy can be delivered

Answer(s): B

Explanation:

Virginia law obligates agents to act as fiduciaries with premiums collected and to promptly remit payments to the insurer. Exact extract: "An agent who accepts funds from an applicant shall hold such funds in a fiduciary capacity and shall promptly remit them to the insurer."


Reference:

Virginia Code Title 38.2--Licensing of Agents, Fiduciary Responsibility.
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In disability income insurance, when it can be shown that an individual would NOT suffer a substantial loss of income upon becoming disabled, an insurer will usually:

  1. Issue coverage at a standard rate
  2. Issue coverage at a preferred rate
  3. Issue coverage at a minimum rate
  4. Decline to issue coverage

Answer(s): D

Explanation:

Disability income insurance requires insurable interest based on potential income loss. If no substantial loss would occur, underwriting guidelines permit the insurer to decline coverage. Exact extract: "Disability income protection shall not be issued where no substantial loss of earned income would result from disability."


Reference:

Virginia Life, Annuities, and Health Licensing Examination Study Guide--Disability Income Underwriting.
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All of the following are new employee eligibility requirements under most group health insurance plans EXCEPT:

  1. The employee must be in a covered class
  2. The employee must provide evidence of good health
  3. The employee must be actively at work
  4. The employee must be classified as full-time

Answer(s): B

Explanation:

Virginia requires group health plans to cover employees who meet participation requirements but prohibits imposing evidence of insurability requirements on new eligible employees. Exact extract:
"No evidence of insurability shall be required for new employees who enroll during the eligibility period."


Reference:

Virginia Code Title 38.2--Group Health Insurance Eligibility.
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