Wisconsin Property Insurance questions with answers

Wisconsin Property Insurance \| \| \|




questions with answers \| \|




How does the Commissioner of Insurance receives their position?
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A) Appointed by the Legislature.
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B) Appointed by the Attorney General.
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C) Appointed by the Governor.
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D) Elected every 4 years. - CORRECT ANSWERS ✔✔C
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Insurance laws in Wisconsin are made by:
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A) The Commissioner of Insurance.
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B) National Association of Insurance Commissioners (NAIC).
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C) The Attorney General.
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D) The Legislature. - CORRECT ANSWERS ✔✔D
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To clarify a person's rights and duties under Wisconsin insurance
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law, the Commissioner will issue a:
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A) Hearing.
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B) Declaratory order.
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C) Collateral examination.
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D) 20 day review notice. - CORRECT ANSWERS ✔✔B
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What is the minimum number of days the OCI has to hold a
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hearing by a denied applicant for a license?
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,A) 10-30 days
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B) 20 days\| \|




C) 5 days \| \| \|




D) 10 days - CORRECT ANSWERS ✔✔D
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The Commissioner requires the insurance test to:
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A) Determine if the applicant has committed a felony.
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B) Determine if the applicant has taken Continuing Education
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classes.
C) Determine if the applicant if trustworthy and competent.
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D) Determine if the applicant is at least a minimum 21 years of
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age. - CORRECT ANSWERS ✔✔C
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The Commissioner has all of the following powers except:
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A) Implied power.
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B) Enforcement power.
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C) Incarceration power.
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D) Specified power. - CORRECT ANSWERS ✔✔C
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If the Commissioner does not put a time length on a revocation the
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intermediaries license is revoked for:
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A) 1 year \| \|




B) 5 years\| \|




C) 5 months
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D) 15 months - CORRECT ANSWERS ✔✔B
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, If an applicant for an intermediary's license requests a hearing
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because of a denial of the license by the Commissioner the
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intermediary has how many days to request the hearing? \| \| \| \| \| \| \| \|




A) 10 days
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B) 20 days
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C) 30 days
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D) 3 months - CORRECT ANSWERS ✔✔C
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All the following are not considered an intermediary except:
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A) A high school teacher teaching insurance.
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B) An accountant giving incidental advice about insurance.
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C) A risk manager for a large manufacturer.
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D) A person going door-to-door soliciting accident policies. -
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CORRECT ANSWERS ✔✔D \| \|




Surplus Lines insurance is: \| \| \|




A) Unauthorized.
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B) Authorized.
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C) Neither authorized or unauthorized.
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D) Not allowed in Wisconsin. - CORRECT ANSWERS ✔✔A
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If a corporation is to be licensed in WI, how many executive
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officers must have their license?\| \| \| \|




A) 1 executive officer.
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