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WISCONSIN ACCIDENT AND HEALTH INSURANCE
LICENSING EXAM 2026 2027 VERIFIED QUESTIONS WITH
100 PERCENT CORRECT SOLUTIONS HIGH YIELD STUDY
GUIDE ACTUAL UPDATED PRACTICE QUESTIONS
LICENSING EXAM PREPARATION GRADED A+ SUCCESS
REVIEW BRAND NEW VERSION
1.Insurable interest must exist during the entire life of the insured.
One person gains from the death of another person.
One person benefits from another person's continued life.
Insurable interest must only exist at the time of the insured's death. -
CORRECT ANSWER=One person benefits from another person's
continued life.
All of these statements correctly describe an aleatory contract EXCEPT
2.A legal wager is considered an aleatory contract.
Potential unequal exchange of value for both parties.
Only one party makes any kind of legally enforceable offer.
Element of chance is involved. - CORRECT ANSWER=Only one party
makes any kind of legally enforceable offer.
3.the following are all elements of a valid contract EXCEPT
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Consideration
Offer and acceptance
Competent parties
Written evidence - CORRECT ANSWER=Written evidence
4.Voluntarily terminating an insurance policy is also known as
Discontinuation
Elimination
Estoppel
Cancellation - CORRECT ANSWER=Cancellation
5.Which of the following relationships demonstrates insurable interest in the
absence of economic interest?
Lifelong friends
Employees
Marriage partners
Business associates - CORRECT ANSWER=Marriage partners
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6.Greg applies for insurance and makes a false statement on the application
that will influence whether or not the insurer will accept the risk. Greg's false
statement is called a(n)
Substandard representation.
Unacceptable risk.
Material misrepresentation.
Adverse selection. - CORRECT ANSWER=Material misrepresentation
7.what is the federal income tax liability of a death benefit paid from a health
insurance policy to a named beneficiary?
Benefits are not taxable
Benefits are partially taxable
Benefits are tax-deferred
Benefits are fully taxable - CORRECT ANSWER=Benefits are not taxable
8.Under a key person disability income policy, benefits will be received as
Taxable income to the key employee
Tax-free to the key employee
Tax-free income to the business
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Taxable income to the business - CORRECT ANSWER=Tax-free income
to the business
9.When group benefits under COBRA have expired, a fully insured group
policy can be converted to a(n)
Individual health policy
Blanket policy
Group policy with another insurer
Disability policy - CORRECT ANSWER=Individual health policy
10.A group health insurance policy is a contract between an
Employee and insurance company
Employee and employer
Employer and insurance company
Employer and producer - CORRECT ANSWER=Employer and insurance
company
11.Dividends from a stock company are normally sent to:
Beneficiaries
Shareholders
WISCONSIN ACCIDENT AND HEALTH INSURANCE
LICENSING EXAM 2026 2027 VERIFIED QUESTIONS WITH
100 PERCENT CORRECT SOLUTIONS HIGH YIELD STUDY
GUIDE ACTUAL UPDATED PRACTICE QUESTIONS
LICENSING EXAM PREPARATION GRADED A+ SUCCESS
REVIEW BRAND NEW VERSION
1.Insurable interest must exist during the entire life of the insured.
One person gains from the death of another person.
One person benefits from another person's continued life.
Insurable interest must only exist at the time of the insured's death. -
CORRECT ANSWER=One person benefits from another person's
continued life.
All of these statements correctly describe an aleatory contract EXCEPT
2.A legal wager is considered an aleatory contract.
Potential unequal exchange of value for both parties.
Only one party makes any kind of legally enforceable offer.
Element of chance is involved. - CORRECT ANSWER=Only one party
makes any kind of legally enforceable offer.
3.the following are all elements of a valid contract EXCEPT
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Consideration
Offer and acceptance
Competent parties
Written evidence - CORRECT ANSWER=Written evidence
4.Voluntarily terminating an insurance policy is also known as
Discontinuation
Elimination
Estoppel
Cancellation - CORRECT ANSWER=Cancellation
5.Which of the following relationships demonstrates insurable interest in the
absence of economic interest?
Lifelong friends
Employees
Marriage partners
Business associates - CORRECT ANSWER=Marriage partners
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6.Greg applies for insurance and makes a false statement on the application
that will influence whether or not the insurer will accept the risk. Greg's false
statement is called a(n)
Substandard representation.
Unacceptable risk.
Material misrepresentation.
Adverse selection. - CORRECT ANSWER=Material misrepresentation
7.what is the federal income tax liability of a death benefit paid from a health
insurance policy to a named beneficiary?
Benefits are not taxable
Benefits are partially taxable
Benefits are tax-deferred
Benefits are fully taxable - CORRECT ANSWER=Benefits are not taxable
8.Under a key person disability income policy, benefits will be received as
Taxable income to the key employee
Tax-free to the key employee
Tax-free income to the business
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Taxable income to the business - CORRECT ANSWER=Tax-free income
to the business
9.When group benefits under COBRA have expired, a fully insured group
policy can be converted to a(n)
Individual health policy
Blanket policy
Group policy with another insurer
Disability policy - CORRECT ANSWER=Individual health policy
10.A group health insurance policy is a contract between an
Employee and insurance company
Employee and employer
Employer and insurance company
Employer and producer - CORRECT ANSWER=Employer and insurance
company
11.Dividends from a stock company are normally sent to:
Beneficiaries
Shareholders
