7/16/25, 12:13 PM Wisconsin Life Insurance Exam Prep exam (2025) ACTUAL EXAM COMPREHENSIVE QUESTIONS AND VERIFIED ACCURATE…
Wisconsin Life Insurance Exam Prep exam (2025)
ACTUAL EXAM COMPREHENSIVE QUESTIONS
AND VERIFIED ACCURATE SOLUTION (DETAILED
& ELABORATED) |GET IT 100% ACCURATE!! 2025
TEST!! |
Save
Terms in this set (33)
- Owned by stockholders/shareholders
- Pays taxable dividends to shareholders if a profit is
Stock insurer
made
-Issues nonparticipating policies (non-PAR)
- An insurer that is owned by its policyholders
- If company is profitable, excess premiums are
Mutual Insurer
returned as non-taxable dividend
-Issues participating (Par) policies
-Life or health insurance companies formed to
provide insurance for members of an affiliated lodge,
religious organization, or fraternal organization with a
Fraternal Benefit Societies representative form of government.
- Members are certificate holders
- Members can acquire additional charges if
premiums are not sufficient enough to meet claims
https://quizlet.com/1060558977/wisconsin-life-insurance-exam-prep-exam-2025-actual-exam-comprehensive-questions-and-verified-accurate-solution-… 1/5
, 7/16/25, 12:13 PM Wisconsin Life Insurance Exam Prep exam (2025) ACTUAL EXAM COMPREHENSIVE QUESTIONS AND VERIFIED ACCURATE…
-Unincorporated groups of people that provide
insurance for one another through individual
indemnity agreements
Reciprocal Insurers
- Ran by an attorney-in-fact
- Members are assessed the amount they have to pay
if loss occurs to any member of the group
-A liability insurance company owned by its members,
which are exposed to similar liability risks by virtue of
Risk Retention Group
being in the same business or industry. e.g. car dealers
or butchers
-Insurance provided by individual underwriters not
companies
Lloyd's Associations
- Commonly insures things such as hole-in-one
contests, celebrity body parts, etc.
-A special form of planned retention by which part or
Self-insurance
all of a given loss exposure is retained by the firm
-Examples: Social security benefits, military life
insurance, federal employee benefits and retirement
Federal Insurer benefits.
-Also funds programs to cover catastrophic risk such
as; war risks, flooding, and crop loss
State level government Examples: Workers Compensation, disability
insurance insurance, & medical insurance for the needy
An insurance company that conducts business in the
Domestic Insurer
state of incorporation.
Foriegn Insurer Any state other than the state where incorporated
An insurance company that is incorporated outside
Alien Insurer
the United States.
Certificate of Authority state license for an insurance company
https://quizlet.com/1060558977/wisconsin-life-insurance-exam-prep-exam-2025-actual-exam-comprehensive-questions-and-verified-accurate-solution-… 2/5
Wisconsin Life Insurance Exam Prep exam (2025)
ACTUAL EXAM COMPREHENSIVE QUESTIONS
AND VERIFIED ACCURATE SOLUTION (DETAILED
& ELABORATED) |GET IT 100% ACCURATE!! 2025
TEST!! |
Save
Terms in this set (33)
- Owned by stockholders/shareholders
- Pays taxable dividends to shareholders if a profit is
Stock insurer
made
-Issues nonparticipating policies (non-PAR)
- An insurer that is owned by its policyholders
- If company is profitable, excess premiums are
Mutual Insurer
returned as non-taxable dividend
-Issues participating (Par) policies
-Life or health insurance companies formed to
provide insurance for members of an affiliated lodge,
religious organization, or fraternal organization with a
Fraternal Benefit Societies representative form of government.
- Members are certificate holders
- Members can acquire additional charges if
premiums are not sufficient enough to meet claims
https://quizlet.com/1060558977/wisconsin-life-insurance-exam-prep-exam-2025-actual-exam-comprehensive-questions-and-verified-accurate-solution-… 1/5
, 7/16/25, 12:13 PM Wisconsin Life Insurance Exam Prep exam (2025) ACTUAL EXAM COMPREHENSIVE QUESTIONS AND VERIFIED ACCURATE…
-Unincorporated groups of people that provide
insurance for one another through individual
indemnity agreements
Reciprocal Insurers
- Ran by an attorney-in-fact
- Members are assessed the amount they have to pay
if loss occurs to any member of the group
-A liability insurance company owned by its members,
which are exposed to similar liability risks by virtue of
Risk Retention Group
being in the same business or industry. e.g. car dealers
or butchers
-Insurance provided by individual underwriters not
companies
Lloyd's Associations
- Commonly insures things such as hole-in-one
contests, celebrity body parts, etc.
-A special form of planned retention by which part or
Self-insurance
all of a given loss exposure is retained by the firm
-Examples: Social security benefits, military life
insurance, federal employee benefits and retirement
Federal Insurer benefits.
-Also funds programs to cover catastrophic risk such
as; war risks, flooding, and crop loss
State level government Examples: Workers Compensation, disability
insurance insurance, & medical insurance for the needy
An insurance company that conducts business in the
Domestic Insurer
state of incorporation.
Foriegn Insurer Any state other than the state where incorporated
An insurance company that is incorporated outside
Alien Insurer
the United States.
Certificate of Authority state license for an insurance company
https://quizlet.com/1060558977/wisconsin-life-insurance-exam-prep-exam-2025-actual-exam-comprehensive-questions-and-verified-accurate-solution-… 2/5
