Wisconsin Property Insurance
Questions And Answers
How bdoes bthe bCommissioner bof bInsurance breceives btheir bposition?
A) bAppointed bby bthe bLegislature. b
B) bAppointed bby bthe bAttorney bGeneral.
C) bAppointed bby bthe bGovernor.
D) bElected bevery b4 byears. b- bcorrect banswers✔✔C
Insurance blaws bin bWisconsin bare bmade bby:
A) bThe bCommissioner bof bInsurance.
B) bNational bAssociation bof bInsurance bCommissioners b(NAIC).
C) bThe bAttorney bGeneral.
D) bThe bLegislature. b- bcorrect banswers✔✔D
To bclarify ba bperson's brights band bduties bunder bWisconsin binsurance blaw, bthe
bCommissioner bwill bissue ba:
A) bHearing.
B) bDeclaratory border.
C) bCollateral bexamination.
D) b20 bday breview bnotice. b- bcorrect banswers✔✔B
What bis bthe bminimum bnumber bof bdays bthe bOCI bhas bto bhold ba bhearing bby ba
bdenied bapplicant bfor ba blicense?
A) b10-30 bdays
B) b20 bdays
C) b5 bdays b
D) b10 bdays b- bcorrect banswers✔✔D
The bCommissioner brequires bthe binsurance btest bto:
A) bDetermine bif bthe bapplicant bhas bcommitted ba bfelony.
B) bDetermine bif bthe bapplicant bhas btaken bContinuing bEducation bclasses.
C) bDetermine bif bthe bapplicant bif btrustworthy band bcompetent.
D) bDetermine bif bthe bapplicant bis bat bleast ba bminimum b21 byears bof bage. b- bcorrect
banswers✔✔C
The bCommissioner bhas ball bof bthe bfollowing bpowers bexcept:
,A) bImplied bpower.
B) bEnforcement bpower.
C) bIncarceration bpower.
D) bSpecified bpower. b- bcorrect banswers✔✔C
If bthe bCommissioner bdoes bnot bput ba btime blength bon ba brevocation bthe
bintermediaries blicense bis brevoked bfor:
A) b1 byear
B) b5 byears
C) b5 bmonths
D) b15 bmonths b- bcorrect banswers✔✔B
If ban bapplicant bfor ban bintermediary's blicense brequests ba bhearing bbecause bof ba
bdenial bof bthe blicense bby bthe bCommissioner bthe bintermediary bhas bhow bmany bdays
bto brequest bthe bhearing?
A) b10 bdays
B) b20 bdays
C) b30 bdays
D) b3 bmonths b- bcorrect banswers✔✔C
All bthe bfollowing bare bnot bconsidered ban bintermediary bexcept:
A) bA bhigh bschool bteacher bteaching binsurance.
B) bAn baccountant bgiving bincidental badvice babout binsurance.
C) bA brisk bmanager bfor ba blarge bmanufacturer.
D) bA bperson bgoing bdoor-to-door bsoliciting baccident bpolicies. b- bcorrect banswers✔✔D
Surplus bLines binsurance bis:
A) bUnauthorized.
B) bAuthorized.
C) bNeither bauthorized bor bunauthorized.
D) bNot ballowed bin bWisconsin. b- bcorrect banswers✔✔A
If ba bcorporation bis bto bbe blicensed bin bWI, bhow bmany bexecutive bofficers bmust bhave
btheir blicense?
A) b1 bexecutive bofficer.
B) b2 bexecutive bofficers.
C) b3 bexecutive bofficers.
D) bAll bexecutive bofficers bmust bhave btheir bintermediary blicense. b- bcorrect
banswers✔✔A
All bof bthe bfollowing bchanges bmust bbe breported bto bthe bCommissioner's bOffice
bexcept:
A) bDisciplinary baction bby banother bstate brelating bto binsurance.
B) bChange bin bthe bbusiness baddress bwhere brecords bare blocated.
C) bChange bin bthe bintermediary's bmarital bstatus.
D) bConviction bof ba bfelony. b- bcorrect banswers✔✔C
, All bof bthe bfollowing brecords bare brequired bto bbe bmaintained bby bthe bCommissioner's
bOffice bexcept:
A) bBusiness bchecking baccounts. b
B) bReplacement bforms bof binsureds.
C) bCommission bstatements. b
D) bMileage brecords. b- bcorrect banswers✔✔D
To bbe ba bresident bagent bin bWisconsin ban bagent bmust:
A) bBe ba bresident bof bWisconsin.
B) bBe b21 byears bor bolder.
C) bPass ba bsecurities bexam.
D) bBe blicensed bwith bthe bNational bAssociation bof bInsurance bCommissioners b(NAIC).
b- bcorrect banswers✔✔A
A btemporary blicense bmay bbe bobtained bfor bwhat bperiod bof btime:
A) b3 bmonths band bmay bbe brenewed btwice.
B) b3 bmonths band bmay bbe brenewed bnot bto bexceed b6 bmonths.
C) b12 bmonths band bmay bnot bbe brenewed.
D) b6 bmonths band bmay bbe brenewed bnot bto bexceed b12 bmonths. b- bcorrect
banswers✔✔C
What bis bthe bpremium btax bcharged bin bsurplus blines btransactions?
A) b1%
B) b2% b
C) b3%.
D) b5%. b- bcorrect banswers✔✔C
The bintermediary bagent brepresents bthe:
A) bInsurance bcompany band bapplicant bfor binsurance.
B) bApplicant bfor binsurance bonly.
C) bInsurance bcompany bonly.
D) bCommissioner bof bInsurance. b- bcorrect banswers✔✔C
The bCommissioner bof bInsurance bcan bissue ball bof bthe bfollowing borders bexcept:
A) bMandatory.
B) bOffertory.
C) bProhibitory.
D) bDeclaratory. b- bcorrect banswers✔✔B
The bintermediary bmust bmaintain breplacement bforms bfor:
A) b3 byears.
B) b5 byears.
C) b3 bmonths.
D) b12 bmonths. b- bcorrect banswers✔✔A
Questions And Answers
How bdoes bthe bCommissioner bof bInsurance breceives btheir bposition?
A) bAppointed bby bthe bLegislature. b
B) bAppointed bby bthe bAttorney bGeneral.
C) bAppointed bby bthe bGovernor.
D) bElected bevery b4 byears. b- bcorrect banswers✔✔C
Insurance blaws bin bWisconsin bare bmade bby:
A) bThe bCommissioner bof bInsurance.
B) bNational bAssociation bof bInsurance bCommissioners b(NAIC).
C) bThe bAttorney bGeneral.
D) bThe bLegislature. b- bcorrect banswers✔✔D
To bclarify ba bperson's brights band bduties bunder bWisconsin binsurance blaw, bthe
bCommissioner bwill bissue ba:
A) bHearing.
B) bDeclaratory border.
C) bCollateral bexamination.
D) b20 bday breview bnotice. b- bcorrect banswers✔✔B
What bis bthe bminimum bnumber bof bdays bthe bOCI bhas bto bhold ba bhearing bby ba
bdenied bapplicant bfor ba blicense?
A) b10-30 bdays
B) b20 bdays
C) b5 bdays b
D) b10 bdays b- bcorrect banswers✔✔D
The bCommissioner brequires bthe binsurance btest bto:
A) bDetermine bif bthe bapplicant bhas bcommitted ba bfelony.
B) bDetermine bif bthe bapplicant bhas btaken bContinuing bEducation bclasses.
C) bDetermine bif bthe bapplicant bif btrustworthy band bcompetent.
D) bDetermine bif bthe bapplicant bis bat bleast ba bminimum b21 byears bof bage. b- bcorrect
banswers✔✔C
The bCommissioner bhas ball bof bthe bfollowing bpowers bexcept:
,A) bImplied bpower.
B) bEnforcement bpower.
C) bIncarceration bpower.
D) bSpecified bpower. b- bcorrect banswers✔✔C
If bthe bCommissioner bdoes bnot bput ba btime blength bon ba brevocation bthe
bintermediaries blicense bis brevoked bfor:
A) b1 byear
B) b5 byears
C) b5 bmonths
D) b15 bmonths b- bcorrect banswers✔✔B
If ban bapplicant bfor ban bintermediary's blicense brequests ba bhearing bbecause bof ba
bdenial bof bthe blicense bby bthe bCommissioner bthe bintermediary bhas bhow bmany bdays
bto brequest bthe bhearing?
A) b10 bdays
B) b20 bdays
C) b30 bdays
D) b3 bmonths b- bcorrect banswers✔✔C
All bthe bfollowing bare bnot bconsidered ban bintermediary bexcept:
A) bA bhigh bschool bteacher bteaching binsurance.
B) bAn baccountant bgiving bincidental badvice babout binsurance.
C) bA brisk bmanager bfor ba blarge bmanufacturer.
D) bA bperson bgoing bdoor-to-door bsoliciting baccident bpolicies. b- bcorrect banswers✔✔D
Surplus bLines binsurance bis:
A) bUnauthorized.
B) bAuthorized.
C) bNeither bauthorized bor bunauthorized.
D) bNot ballowed bin bWisconsin. b- bcorrect banswers✔✔A
If ba bcorporation bis bto bbe blicensed bin bWI, bhow bmany bexecutive bofficers bmust bhave
btheir blicense?
A) b1 bexecutive bofficer.
B) b2 bexecutive bofficers.
C) b3 bexecutive bofficers.
D) bAll bexecutive bofficers bmust bhave btheir bintermediary blicense. b- bcorrect
banswers✔✔A
All bof bthe bfollowing bchanges bmust bbe breported bto bthe bCommissioner's bOffice
bexcept:
A) bDisciplinary baction bby banother bstate brelating bto binsurance.
B) bChange bin bthe bbusiness baddress bwhere brecords bare blocated.
C) bChange bin bthe bintermediary's bmarital bstatus.
D) bConviction bof ba bfelony. b- bcorrect banswers✔✔C
, All bof bthe bfollowing brecords bare brequired bto bbe bmaintained bby bthe bCommissioner's
bOffice bexcept:
A) bBusiness bchecking baccounts. b
B) bReplacement bforms bof binsureds.
C) bCommission bstatements. b
D) bMileage brecords. b- bcorrect banswers✔✔D
To bbe ba bresident bagent bin bWisconsin ban bagent bmust:
A) bBe ba bresident bof bWisconsin.
B) bBe b21 byears bor bolder.
C) bPass ba bsecurities bexam.
D) bBe blicensed bwith bthe bNational bAssociation bof bInsurance bCommissioners b(NAIC).
b- bcorrect banswers✔✔A
A btemporary blicense bmay bbe bobtained bfor bwhat bperiod bof btime:
A) b3 bmonths band bmay bbe brenewed btwice.
B) b3 bmonths band bmay bbe brenewed bnot bto bexceed b6 bmonths.
C) b12 bmonths band bmay bnot bbe brenewed.
D) b6 bmonths band bmay bbe brenewed bnot bto bexceed b12 bmonths. b- bcorrect
banswers✔✔C
What bis bthe bpremium btax bcharged bin bsurplus blines btransactions?
A) b1%
B) b2% b
C) b3%.
D) b5%. b- bcorrect banswers✔✔C
The bintermediary bagent brepresents bthe:
A) bInsurance bcompany band bapplicant bfor binsurance.
B) bApplicant bfor binsurance bonly.
C) bInsurance bcompany bonly.
D) bCommissioner bof bInsurance. b- bcorrect banswers✔✔C
The bCommissioner bof bInsurance bcan bissue ball bof bthe bfollowing borders bexcept:
A) bMandatory.
B) bOffertory.
C) bProhibitory.
D) bDeclaratory. b- bcorrect banswers✔✔B
The bintermediary bmust bmaintain breplacement bforms bfor:
A) b3 byears.
B) b5 byears.
C) b3 bmonths.
D) b12 bmonths. b- bcorrect banswers✔✔A
