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Virginia Insurance Virginia Life, Annuities, and Health Insurance Examination Series 11-01 Sample Questions:
1. Under IRS rules, a company normally may do all of the following with funds in a qualified retirement plan EXCEPT:
A) Make allocations to participating shareholder-employees
B) Distribute vested funds to employees who leave
C) Repossess the funds for business purposes
D) Invest in shares of common stocks
2. When the employer pays the premium, covered individuals normally receive tax-free benefits under all of the following group health plans EXCEPT:
A) Disability income
B) Dental
C) Major medical
D) Health maintenance organization
3. A health maintenance organization (HMO) member receives all preventive and routine medical care from the:
A) Primary care physician
B) Medical director
C) Provider association
D) Routine care physician
4. The period of time during which a new employee is ineligible for group health insurance coverage is called a:
A) Grace period
B) Probationary period
C) Participation period
D) Contributory period
5. The overall authority of an insurance agent includes all of the following EXCEPT:
A) Apparent authority
B) Implied authority
C) Residual authority
D) Express or specific authority
Solutions:
Question # 1 Answer: C | Question # 2 Answer: A | Question # 3 Answer: A | Question # 4 Answer: B | Question # 5 Answer: C |