WI INSURANCE CREDIT EXAM.
NEWEST 2026-2027. QUESTIONS AND
CORRECT ANSWERS. GRADED A
an agent files a false report to an insurance company on behalf of a client.
this is an example of - ANSmisrepresentation
an intermediary is required to notify the insurance commissioner of what -
ANSchange in resident address
conviction of a felony
change in insurance company relationship
an intermediary must maintain replacement and suitability records for how
long? - ANS3 years
Are pure risks insurable risks? - ANSyes. Pure risks involve only the
chance of loss, there is never possibility of gain or profit
bill will not fly an airplane. This is a type of what? - ANSrisk avoidance
can a contract of adhesion be negotiated? - ANSno
credit insurance is regulated by both the state and federal government as
follows except - ANSregulation T
1
, Credit Life Insurance - ANSA special type of coverage written to pay off the
balance of a loan in the event of the death of the debtor.
criminal penalties that can be imposed on an insurance licensee other than
a corporation is what - ANS3 years in jail and $5000 fine
does the commissioner of insurance write laws? - ANSno
exchange of business occurs between who? - ANSagents
Gap Insurance - ANScovers the difference between what you owe on a car
and what the insurance company says it is worth
How does the Commissioner of Insurance attain office? - ANSappointed by
the governor
how long does the license of a wisconsin intermediary continue for? -
ANSindefinitely
how long is the term of the office for the commissioner? - ANSindefinite
how many days after it receives proof of loss must the insurance company
pay a claim? - ANS30 days
how often is a policyholders "right to file a complaint" notice required? -
ANSonce for each policy
2
NEWEST 2026-2027. QUESTIONS AND
CORRECT ANSWERS. GRADED A
an agent files a false report to an insurance company on behalf of a client.
this is an example of - ANSmisrepresentation
an intermediary is required to notify the insurance commissioner of what -
ANSchange in resident address
conviction of a felony
change in insurance company relationship
an intermediary must maintain replacement and suitability records for how
long? - ANS3 years
Are pure risks insurable risks? - ANSyes. Pure risks involve only the
chance of loss, there is never possibility of gain or profit
bill will not fly an airplane. This is a type of what? - ANSrisk avoidance
can a contract of adhesion be negotiated? - ANSno
credit insurance is regulated by both the state and federal government as
follows except - ANSregulation T
1
, Credit Life Insurance - ANSA special type of coverage written to pay off the
balance of a loan in the event of the death of the debtor.
criminal penalties that can be imposed on an insurance licensee other than
a corporation is what - ANS3 years in jail and $5000 fine
does the commissioner of insurance write laws? - ANSno
exchange of business occurs between who? - ANSagents
Gap Insurance - ANScovers the difference between what you owe on a car
and what the insurance company says it is worth
How does the Commissioner of Insurance attain office? - ANSappointed by
the governor
how long does the license of a wisconsin intermediary continue for? -
ANSindefinitely
how long is the term of the office for the commissioner? - ANSindefinite
how many days after it receives proof of loss must the insurance company
pay a claim? - ANS30 days
how often is a policyholders "right to file a complaint" notice required? -
ANSonce for each policy
2
