Virginia Personal Lines Insurance License Exam — All Questions

Which body regulates insurance and licenses resident personal lines producers in Virginia?

• a.The Bureau of Insurance within the Virginia State Corporation Commission (SCC)✓
• b.The Virginia Bureau of Insurance Agents, an insurer trade group
• c.The National Association of Insurance Commissioners
• d.The federal Department of Insurance

Insurance in Virginia is regulated by the Bureau of Insurance, part of the Virginia State Corporation Commission (SCC). It licenses and renews producers, reviews rates and forms, and enforces the state insurance code. The NAIC is a standards body, not a licensing agency, and there is no federal insurance department. Source: Virginia State Corporation Commission (https://scc.virginia.gov/pages/Insurance).

After a producer is licensed in Virginia, what generally must occur before he or she can transact business for a specific insurer?

• a.Nothing further - a license alone lets the producer bind any insurer
• b.The insurer must appoint the producer and file the appointment with the Bureau of Insurance✓
• c.The producer must be elected by policyholders
• d.The producer must register with the NAIC

A license lets a person act as a producer, but to represent a specific insurer that company must appoint the producer, and the appointment is filed with the Virginia Bureau of Insurance. A producer may hold appointments from many insurers at once. Source: Virginia State Corporation Commission, Bureau of Insurance.

Which statement about continuing education (CE) for resident personal lines producers in Virginia is correct?

• a.Producers must complete state-approved CE, typically including an ethics component, each renewal cycle✓
• b.CE is never required once the license is issued
• c.CE is set and enforced by the federal government
• d.Only life producers have any CE duty

To renew, resident Virginia producers must complete state-approved continuing education each cycle, typically including an ethics component. Exact hour totals and the renewal period are set by the Bureau of Insurance and can change, so verify current requirements at https://scc.virginia.gov/pages/Insurance rather than memorizing a number.