Wisconsin Property Insurance Exam
Questions and Answers 100% Solved
How does the Commissioner of Insurance receives their position?
A) Appointed by the Legislature.
B) Appointed by the Attorney General.
C) Appointed by the Governor.
D) Elected every 4 years. - ✔✔C
Insurance laws in Wisconsin are made by:
A) The Commissioner of Insurance.
B) National Association of Insurance Commissioners (NAIC).
C) The Attorney General.
D) The Legislature. - ✔✔D
To clarify a person's rights and duties under Wisconsin insurance law, the
Commissioner will issue a:
A) Hearing.
B) Declaratory order.
C) Collateral examination.
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,D) 20 day review notice. - ✔✔B
What is the minimum number of days the OCI has to hold a hearing by a
denied applicant for a license?
A) 10-30 days
B) 20 days
C) 5 days
D) 10 days - ✔✔D
The Commissioner requires the insurance test to:
A) Determine if the applicant has committed a felony.
B) Determine if the applicant has taken Continuing Education classes.
C) Determine if the applicant if trustworthy and competent.
D) Determine if the applicant is at least a minimum 21 years of age. - ✔✔C
The Commissioner has all of the following powers except:
A) Implied power.
B) Enforcement power.
C) Incarceration power.
D) Specified power. - ✔✔C
If the Commissioner does not put a time length on a revocation the
intermediaries license is revoked for:
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©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.
,A) 1 year
B) 5 years
C) 5 months
D) 15 months - ✔✔B
If an applicant for an intermediary's license requests a hearing because of
a denial of the license by the Commissioner the intermediary has how
many days to request the hearing?
A) 10 days
B) 20 days
C) 30 days
D) 3 months - ✔✔C
All the following are not considered an intermediary except:
A) A high school teacher teaching insurance.
B) An accountant giving incidental advice about insurance.
C) A risk manager for a large manufacturer.
D) A person going door-to-door soliciting accident policies. - ✔✔D
Surplus Lines insurance is:
A) Unauthorized.
B) Authorized.
C) Neither authorized or unauthorized.
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, D) Not allowed in Wisconsin. - ✔✔A
If a corporation is to be licensed in WI, how many executive officers must
have their license?
A) 1 executive officer.
B) 2 executive officers.
C) 3 executive officers.
D) All executive officers must have their intermediary license. - ✔✔A
All of the following changes must be reported to the Commissioner's Office
except:
A) Disciplinary action by another state relating to insurance.
B) Change in the business address where records are located.
C) Change in the intermediary's marital status.
D) Conviction of a felony. - ✔✔C
All of the following records are required to be maintained by the
Commissioner's Office except:
A) Business checking accounts.
B) Replacement forms of insureds.
C) Commission statements.
D) Mileage records. - ✔✔D
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©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.
Questions and Answers 100% Solved
How does the Commissioner of Insurance receives their position?
A) Appointed by the Legislature.
B) Appointed by the Attorney General.
C) Appointed by the Governor.
D) Elected every 4 years. - ✔✔C
Insurance laws in Wisconsin are made by:
A) The Commissioner of Insurance.
B) National Association of Insurance Commissioners (NAIC).
C) The Attorney General.
D) The Legislature. - ✔✔D
To clarify a person's rights and duties under Wisconsin insurance law, the
Commissioner will issue a:
A) Hearing.
B) Declaratory order.
C) Collateral examination.
1
©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.
,D) 20 day review notice. - ✔✔B
What is the minimum number of days the OCI has to hold a hearing by a
denied applicant for a license?
A) 10-30 days
B) 20 days
C) 5 days
D) 10 days - ✔✔D
The Commissioner requires the insurance test to:
A) Determine if the applicant has committed a felony.
B) Determine if the applicant has taken Continuing Education classes.
C) Determine if the applicant if trustworthy and competent.
D) Determine if the applicant is at least a minimum 21 years of age. - ✔✔C
The Commissioner has all of the following powers except:
A) Implied power.
B) Enforcement power.
C) Incarceration power.
D) Specified power. - ✔✔C
If the Commissioner does not put a time length on a revocation the
intermediaries license is revoked for:
2
©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.
,A) 1 year
B) 5 years
C) 5 months
D) 15 months - ✔✔B
If an applicant for an intermediary's license requests a hearing because of
a denial of the license by the Commissioner the intermediary has how
many days to request the hearing?
A) 10 days
B) 20 days
C) 30 days
D) 3 months - ✔✔C
All the following are not considered an intermediary except:
A) A high school teacher teaching insurance.
B) An accountant giving incidental advice about insurance.
C) A risk manager for a large manufacturer.
D) A person going door-to-door soliciting accident policies. - ✔✔D
Surplus Lines insurance is:
A) Unauthorized.
B) Authorized.
C) Neither authorized or unauthorized.
3
©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.
, D) Not allowed in Wisconsin. - ✔✔A
If a corporation is to be licensed in WI, how many executive officers must
have their license?
A) 1 executive officer.
B) 2 executive officers.
C) 3 executive officers.
D) All executive officers must have their intermediary license. - ✔✔A
All of the following changes must be reported to the Commissioner's Office
except:
A) Disciplinary action by another state relating to insurance.
B) Change in the business address where records are located.
C) Change in the intermediary's marital status.
D) Conviction of a felony. - ✔✔C
All of the following records are required to be maintained by the
Commissioner's Office except:
A) Business checking accounts.
B) Replacement forms of insureds.
C) Commission statements.
D) Mileage records. - ✔✔D
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©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.
