Wisconsin Property Insurance Exam Questions and Answers 100% Pass

Wisconsin Property Insurance Exam Questions and Answers 100% Pass 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. D) 20 day review notice. - B 2 | P a g e Created by Katelyn Whitman © 2025, All Rights Reserved. 100% PASS GUARANTEE 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: A) 1 year B) 5 years C) 5 months D) 15 months - B 3 | P a g e Created by Katelyn Whitman © 2025, All Rights Reserved. 100% PASS GUARANTEE 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. 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. 4 | P a g e Created by Katelyn Whitman © 2025, All Rights Reserved. 100% PASS GUARANTEE 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 To be a resident agent in Wisconsin an agent must: A) Be a resident of Wisconsin. B) Be 21 years or older. C) Pass a securities exam. D) Be licensed with the National Association of Insurance Commissioners (NAIC). - A A temporary license may be obtained for what period of time: A) 3 months and may be renewed twice. B) 3 months and may be renewed not to exceed 6 months. C) 12 months and may not be renewed. 5 | P a g e Created by Katelyn Whitman © 2025, All Rights Reserved. 100% PASS GUARANTEE D) 6 months and may be renewed not to exceed 12 months. - C What is the premium tax charged in surplus lines transactions? A) 1% B) 2% C) 3%. D) 5%. - C The intermediary agent represents the: A) Insurance company and applicant for insurance. B) Applicant for insurance only. C) Insurance company only. D) Commissioner of Insurance. - C The Commissioner of Insurance can issue all of the following orders except: A) Mandatory. B) Offertory. C) Prohibitory. D) Declaratory. - B The intermediary must maintain replacement forms for: A) 3 years. B) 5 years. C) 3 months. 6 | P a g e Created by Katelyn Whitman © 2025, All Rights Reserved. 100% PASS GUARANTEE D) 12 months. - A All of the following must have an intermediary license except: A) A town mutual insurance agent who sells only crop insurance. B) A town mutual insurance agent who sells auto insurance. C) A town mutual insurance agent who sells only property insurance. D) A person who sells health insurance for a non-profit organization(i.e. Blue Cross/Blue Shield). - C What is the bond that may be required for a Surplus Lines licen