Virginia Life & Health Insurance License Exam Overview
The Virginia Life & Health Insurance License Exam is administered by Prometric on behalf of the Virginia Bureau of Insurance (BOI). Virginia is the twelfth-largest state by population, with the Northern Virginia region (DC suburbs), Richmond, and Hampton Roads serving as major economic centers.
Passing this exam qualifies you to sell life insurance, health insurance, annuities, and related products throughout Virginia—a state with over 8.6 million residents, proximity to Washington DC, and strong federal contractor and military markets.
Exam Format at a Glance
| Component | Details |
|---|---|
| Total Questions | 150 multiple-choice |
| Scored Questions | 150 |
| Time Limit | 2 hours |
| Passing Score | 70% (105 correct answers) |
| Testing Vendor | Prometric |
| Exam Fee | $53 |
| Pre-licensing Education | 40 hours required |
Why Get Licensed in Virginia?
- DC metro access — Northern Virginia proximity to federal market
- High income levels — Strong demand for life and investment products
- Military/federal market — Large military and contractor population
- Growing population — Over 8.6 million and expanding
- Competitive compensation — Average agent salary over $67,000
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Key Topics Covered on the Exam
1. Life Insurance Fundamentals (30-35%)
Types of Life Insurance:
- Term Life (level, decreasing, renewable, convertible)
- Whole Life (ordinary, limited pay, single premium)
- Universal Life (flexible premiums, adjustable death benefit)
- Variable Life (securities-based, separate account)
Policy Provisions Under Virginia Law:
| Provision | Virginia Requirement |
|---|---|
| Grace Period | 31 days minimum |
| Incontestability | 2 years |
| Suicide Clause | 2 years |
| Free Look Period | 10 days (30 days for seniors) |
| Reinstatement | 3 years |
| Misstatement of Age | Adjustment of benefits |
Beneficiary Designations:
- Primary and contingent beneficiaries
- Revocable vs. irrevocable designations
- Per stirpes vs. per capita distribution
- Virginia estate considerations
2. Health Insurance Fundamentals (30-35%)
Major Medical Coverage:
- Deductibles, copays, coinsurance
- Out-of-pocket maximums
- Network types (HMO, PPO, EPO, POS)
- Essential health benefits under ACA
Virginia-Specific Health Topics:
- Healthcare.gov marketplace (Virginia uses federal exchange)
- Medicaid expansion under Virginia program
- FAMIS (Virginia CHIP program)
- Mental health parity requirements
Disability Income Insurance:
- Short-term vs. long-term disability
- Own occupation vs. any occupation definitions
- Elimination periods and benefit periods
- Social Security integration
Long-Term Care Insurance:
- Benefit triggers (ADLs, cognitive impairment)
- Virginia Long-Term Care Partnership
- Tax-qualified policies
- Inflation protection options
3. Annuities (15-20%)
- Fixed vs. variable annuities
- Immediate vs. deferred annuities
- Accumulation and annuitization phases
- Virginia annuity suitability requirements
- Surrender charges and free withdrawal provisions
- 1035 exchanges and tax implications
4. Virginia Insurance Code and Regulations (15-20%)
Title 38.2 Key Provisions:
- Producer licensing requirements
- Unfair trade practices
- Unfair claims settlement practices
- Replacement regulations
- Advertising guidelines
Licensing Requirements:
- Pre-licensing education: 40 hours
- Continuing education: 24 hours every 2 years
- Ethics requirement: 3 hours included in CE
- Background check required
Producer Responsibilities:
- Fiduciary duties to clients
- Premium handling requirements
- Record retention (5 years)
- Reporting changes within 30 days
5. Ethics and Professional Conduct (10-15%)
- Suitability and needs analysis
- Disclosure requirements
- Privacy and confidentiality (HIPAA compliance)
- Anti-rebating and anti-twisting rules
- Handling complaints and grievances
Study Timeline for Success
| Week | Focus Area | Hours |
|---|---|---|
| Week 1-2 | Life insurance products and provisions | 12-15 |
| Week 2-3 | Health insurance and ACA | 12-15 |
| Week 3-4 | Annuities and specialty products | 8-10 |
| Week 4-5 | Virginia regulations (Title 38.2) | 8-10 |
| Week 5-6 | Practice exams and review | 12-15 |
Total recommended study time: 55-65 hours
🎯 Free Practice Questions Available
Test your knowledge with hundreds of free practice questions designed specifically for the Virginia Life & Health exam.
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Virginia-Specific Exam Tips
1. Know Your Virginia Laws
The exam tests Virginia-specific regulations:
- Title 38.2 — Virginia Insurance Code
- BOI — Bureau of Insurance
- Healthcare.gov — Federal marketplace for Virginia
- Commissioner powers — Enforcement authority
2. Master the Numbers
| Topic | Virginia Requirement |
|---|---|
| Grace period | 31 days |
| Free look period | 10 days (30 for seniors) |
| Incontestability | 2 years |
| CE requirement | 24 hours/2 years |
| Pre-licensing | 40 hours |
| Passing score | 70% |
| Record retention | 5 years |
3. Understand Federal Marketplace
Virginia uses Healthcare.gov for health insurance:
- Open enrollment periods (November-January)
- Special enrollment qualifications
- Subsidy and tax credit eligibility
- Plan tier options (Bronze through Platinum)
4. Federal/Military Market Focus
Virginia has unique market opportunities:
- Federal employee health benefits (FEHB) referrals
- Military member life insurance (SGLI/VGLI) knowledge
- Federal contractor populations
- TRICARE coordination
Common Mistakes to Avoid
- Underestimating Virginia regulations — Title 38.2 is heavily tested
- Confusing marketplace — Virginia uses federal exchange
- Skipping health insurance — It's equal weight to life insurance
- Ignoring senior protections — Virginia has enhanced rules for 65+
- Not practicing timed exams — 2 hours for 150 questions is tight
- Cramming last minute — Spread study over 5-6 weeks
After Passing Your Exam
- Apply for license through Virginia BOI online portal
- Complete background check — Required for all applicants
- Pay license fee — $50 for resident license
- Affiliate with insurer — Get appointed by carrier
- Maintain CE compliance — 24 hours every 2 years
- Begin selling — Your license is valid for 2 years
2026 Virginia Updates
For 2026, be aware of:
- Healthcare.gov marketplace updates
- Medicaid expansion program changes
- Enhanced telehealth coverage requirements
- Updated producer appointment rules
Start Your Virginia Insurance Career Today
The Virginia Life & Health license opens doors to one of the nation's most affluent insurance markets. With proper preparation, you can pass the exam on your first attempt.
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Our free study materials include:
- ✅ Complete topic coverage
- ✅ Practice questions with explanations
- ✅ Virginia-specific regulations (Title 38.2)
- ✅ Study guides and summaries
- ✅ AI-powered study assistance
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