WI State Insurance Exam. Newest
2026-2027. Questions and Correct
Answers. Graded A
A consumer who has been recently denied insurance, credit, or
employment based on an unforgivable consumer report MUST be advised
as such. Which of the following does this statute originate from - ANSFair
credit reporting act
A contract is considered void in all of the following except - ANSWhen
consideration is unequal
A life annuity feature which provides benefit payments for a minimum
number of years, no matter when the annuitant dies, is called - ANSperiod
certain
A life insurance company just paid $100,000 death benefit to a beneficiary.
When the insured died, the cash value was $15,000 and the total
premiums-paid equaled $10,000. How much of the proceeds will be added
to the beneficiary's gross income for federal income tax purposes -
ANSNothing
A life insurance policy can be contested by the insurer only during the first
____ years of the contract - ANSTwo
1
,A life insurance policy contains an accelerated (living) benefit rider will
provide funds if the - ANSInsured is confined in a nursing home for life
A life insurance policy owner would like a dividend option that results in a
limited current outlay of funds. Which dividend option would be chosen -
ANSReduction of premium payment
A life insurance policy that includes a return of premium rider will pay the
beneficiary how much upon the insured's death - ANSTotal premiums paid
plus the policy face amount
A life insurance policy that is paid annually must contain a grace period of
at least ___days - ANS31
A life insurance policy that is paid annually must contain a grace period of
at least____days - ANS31
A life policy has premiums that are lower than normal during the early years
is called - ANSModified life
A life policy's spendthrift clause would have no effect if the beneficiary is
paid the proceeds as a - ANSLump-sum payment
A notice of intent to nonrenew a policy by the insurer requires at least ___
days written notice before a policy expiration - ANS60
2
, A policyholder with a terminal illness who sells his life insurance policy to a
third party is called a - ANSViator
A qualified profit-sharing plan is designed to - ANSdistribute a portion of
company earnings to its employees
A source of supplemental income for a life insurance policyowner can be
derived from the - ANSCash value
A statement must be signed by the ____ for any illustrations used in the
sale of a life insurance policy - ANSIntermediary
A(n) _____ order may be issued by the insurance commissioner -
ANSCompliance
A(n) _____ order may be issues bu the insurance commissioner -
ANSCompliance
A(n) insurer writer business in a state other than the one in which it is
domiciled. - ANSForeign
ABC Company is attempting to minimize the severity of potential losses
within its company. The company is engaged in risk - ANSreduction
According to ERISA regulations, a summary plan description must be
provided to a new plan member within ____ days of the members eligibility
date - ANS90
3
2026-2027. Questions and Correct
Answers. Graded A
A consumer who has been recently denied insurance, credit, or
employment based on an unforgivable consumer report MUST be advised
as such. Which of the following does this statute originate from - ANSFair
credit reporting act
A contract is considered void in all of the following except - ANSWhen
consideration is unequal
A life annuity feature which provides benefit payments for a minimum
number of years, no matter when the annuitant dies, is called - ANSperiod
certain
A life insurance company just paid $100,000 death benefit to a beneficiary.
When the insured died, the cash value was $15,000 and the total
premiums-paid equaled $10,000. How much of the proceeds will be added
to the beneficiary's gross income for federal income tax purposes -
ANSNothing
A life insurance policy can be contested by the insurer only during the first
____ years of the contract - ANSTwo
1
,A life insurance policy contains an accelerated (living) benefit rider will
provide funds if the - ANSInsured is confined in a nursing home for life
A life insurance policy owner would like a dividend option that results in a
limited current outlay of funds. Which dividend option would be chosen -
ANSReduction of premium payment
A life insurance policy that includes a return of premium rider will pay the
beneficiary how much upon the insured's death - ANSTotal premiums paid
plus the policy face amount
A life insurance policy that is paid annually must contain a grace period of
at least ___days - ANS31
A life insurance policy that is paid annually must contain a grace period of
at least____days - ANS31
A life policy has premiums that are lower than normal during the early years
is called - ANSModified life
A life policy's spendthrift clause would have no effect if the beneficiary is
paid the proceeds as a - ANSLump-sum payment
A notice of intent to nonrenew a policy by the insurer requires at least ___
days written notice before a policy expiration - ANS60
2
, A policyholder with a terminal illness who sells his life insurance policy to a
third party is called a - ANSViator
A qualified profit-sharing plan is designed to - ANSdistribute a portion of
company earnings to its employees
A source of supplemental income for a life insurance policyowner can be
derived from the - ANSCash value
A statement must be signed by the ____ for any illustrations used in the
sale of a life insurance policy - ANSIntermediary
A(n) _____ order may be issued by the insurance commissioner -
ANSCompliance
A(n) _____ order may be issues bu the insurance commissioner -
ANSCompliance
A(n) insurer writer business in a state other than the one in which it is
domiciled. - ANSForeign
ABC Company is attempting to minimize the severity of potential losses
within its company. The company is engaged in risk - ANSreduction
According to ERISA regulations, a summary plan description must be
provided to a new plan member within ____ days of the members eligibility
date - ANS90
3
