Virginia Insurance Virginia Life Annuities and Health Insurance Series 1101 Exam - Topic 4 Question 1 Discussion

Actual exam question for Virginia Insurance's Virginia Life Annuities and Health Insurance Series 1101 exam

Question #: 1
Topic #: 4

[All Virginia Life Annuities and Health Insurance Series 1101 Questions]

An agent who misrepresents a life insurance policy in the Commonwealth of Virginia:

AHas no problem if the misrepresented information is about a competitor's product

BHas committed an illegal act

CMay be prohibited from representing similar products for 30 days

DMay be required to take an additional 30 hours of continuing education

Show Suggested Answer

Suggested Answer: B

Virginia law clearly states that misrepresentation of a policy is an unlawful act and a violation of the Unfair Trade Practices Act. The violation applies regardless of whether the misrepresentation concerns the agent's own product or a competitor's.

Exact Extract (Virginia Unfair Trade Practices Law): ''It is an unfair and prohibited practice for any person to make, issue, or circulate any misrepresentation of a policy or contract of insurance.''

Reference (Virginia Documents / Study Guide):

--- Code of Virginia 38.2-502 (Misrepresentation prohibited)

by Bettye at Jan 26, 2026, 12:42 PM

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Armando

5 days ago

I remember something about penalties for misrepresentation, but I’m not sure if it’s 30 days or 30 hours.

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Shaun

10 days ago

I think misrepresenting a life insurance policy is definitely illegal, so I would lean towards option B.

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Annmarie

15 days ago

Ugh, this question is tricky. I'm not totally confident, but I think the best answer is B. Misrepresentation is just not allowed, even if it's about another company's product. I'll make sure to double-check the details, but that's my initial take.

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Gianna

20 days ago

I got this! The answer is B - the agent has committed an illegal act by misrepresenting the life insurance policy. Doesn't matter if it's about a competitor's product, it's still against the rules. Easy peasy.

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Theron

26 days ago

Okay, let's see. I know misrepresentation is a big no-no in the insurance industry, so I'm leaning towards B. But the part about the 30-day prohibition and 30 hours of continuing ed makes me wonder if C or D could also be correct. I'll have to review my notes on Virginia insurance regulations.

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Audra

1 month ago

Hmm, I'm not sure about this one. The question mentions the Commonwealth of Virginia, so I'll need to double-check the specific laws and regulations there. B and C both seem plausible, but I'll have to think it through carefully.

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Doretha

1 month ago

I think the answer is B - the agent has committed an illegal act by misrepresenting the life insurance policy. Misrepresentation is not allowed, even if it's about a competitor's product.

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