State RegulationsVA specificDifficulty 1/5
A candidate submits a Virginia producer license application for one line of authority. Which fee will the candidate actually pay at the application stage?
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Answer & full 3-part explanation (select an option above, or peek)
Why D is correct
Va. Code § 38.2-1819 requires each applicant to pay a nonrefundable application processing fee and fixes a statutory range of $10 to $20 per line of authority; the Commission has set the actual charge at $15 per qualification, which is what an applicant pays. The fee goes to the state treasury to support the Bureau of Insurance. Distinguishing the statutory range from the Commission-set point amount is a tested Virginia nuance.
Why the other options are wrong
- A) $35 is the examination fee, a separate charge from the application processing fee.
- B) $10 is the floor of the statutory range, not the amount the Commission actually charges.
- C) $20 is the ceiling of the statutory range, not the amount the Commission actually charges.
Memory hook
The statute gives a $10 to $20 range; the Commission sets the tab at $15.