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Free Virginia-Life-Annuities-and-Health-Insurance Exam Braindumps
Virginia Life, Annuities, and Health Insuranceination Series 1101 Questions 156–160 (page: 33)

Updated On: 10-Feb-2026
Page 33 of 89
PDF with 440 Questions

The premium for a children's rider on a life insurance policy:

  1. Automatically increases each year
  2. Increases with the birth or adoption of additional children
  3. Remains the same regardless of the number of children
  4. Is based upon the age of the parents

Answer(s): C

Explanation:

Children's riders provide coverage for all eligible children in the family under one flat premium. Additional children are automatically covered without an increase. Exact extract: "Children's riders charge one level premium regardless of the number of children insured; coverage automatically includes children born or adopted after issue."


Reference:

Virginia Life Insurance Licensing Study Guide--Policy Riders.
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Which of the following statements is true regarding an insurance agent's license?

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

Answer(s): B

Explanation:

A Virginia agent license remains valid until revoked, suspended, or terminated. Appointments with insurers are separate, but the agent holds only one license. Exact extract: "Licenses are perpetual, subject to biennial renewal requirements and compliance; termination occurs only through suspension, revocation, or voluntary surrender."


Reference:

Virginia Code Title 38.2--Licensing of Agents.
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Which is true upon the death of an annuitant under a joint life annuity?

  1. A surviving annuitant would continue receiving the same benefits
  2. The benefits to a surviving annuitant would cease entirely
  3. A designated beneficiary would start receiving benefit payments for life
  4. The benefits to a surviving annuitant would be reduced by half

Answer(s): B

Explanation:

A joint life annuity pays benefits to two annuitants during their lifetimes, but terminates entirely upon the first death. Exact extract: "Joint life annuities provide income until the death of the first annuitant; no further payments are made thereafter."


Reference:

Virginia Life, Annuities, and Health Study Guide--Annuity Options.
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Working people age 65 or over generally must:

  1. Be offered the same health benefits offered to younger employees
  2. Be offered employer group Medicare Supplement coverage
  3. Accept Medicare as the primary payer
  4. Continue coverage under the employer group health plan

Answer(s): A

Explanation:

Federal Age Discrimination in Employment Act (ADEA) requires equal benefits for older workers. Employers cannot deny the same group health coverage offered to younger employees. Exact extract: "Employees age 65 and older must be offered the same health benefits as those under 65."


Reference:

Federal Medicare Secondary Payer Rules; Virginia Insurance Exam Study Guide.
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When delivering a life insurance policy, an agent's responsibilities may include all of the following EXCEPT:

  1. Explaining a non-standard rating
  2. Reviewing policy riders
  3. Collecting the premium payment
  4. Cashing the insured's premium check

Answer(s): D

Explanation:

Agents may collect premiums but cannot personally cash or deposit checks as if they were funds of their own. Exact extract: "Agents must forward funds promptly to insurers and may not treat premiums as personal assets."


Reference:

Virginia Code Title 38.2--Fiduciary Duties of Agents.
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