Wisconsin Accident and Health Insurance
Exam 3 Questions and Answers Graded
A+
What is the consequence for an intermediary's failure to pay his/her biennial
license fee?
Intermediary is incarcerated by the Insurance Commissioner.
Intermediary's license is suspended for 180 days.
Intermediary's license is revoked.
Intermediary's commission rate is reduced. - Correct answer-Intermediary's license
is revoked.
Which of these situations would NOT potentially involve a prison sentence under
Federal law?
Selling insurance with a nonresident license.
©COPYRIGHT 2025, ALL RIGHTS RESERVED 1
,Misappropriating insurance premiums.
Embezzlement of an insurer's funds.
Sending threatening letters to an insurer. - Correct answer-Selling insurance with a
nonresident license.
How long can pre-existing conditions be excluded in long-term care policies?
6 months.
12 months.
18 months.
24 months. - Correct answer-6 months.
What is the proper procedure for an intermediary to change his/her mailing
address?
Notify the Governor's office in writing within 15 days.
Notify the Commissioner's office in writing within 30 days.
Notify the appointing insurer in writing within 15 days.
©COPYRIGHT 2025, ALL RIGHTS RESERVED 2
,Notify the Commissioner's office via telephone within 30 days. - Correct answer-
Notify the Commissioner's office in writing within 30 days.
Health providers are compensated by a preferred provider organization (PPO) for
normal dental procedures by what means?
Usual and customary fee schedules.
Increased fee schedules.
Decreased fee schedules.
Indemnity fee schedules. - Correct answer-Decreased fee schedules.
According to the Affordable Care Act, new Health Insurance Marketplaces are
established by the
ICIICO.
CCIIOO.
CCOII.
CCIIO. - Correct answer-CCIIO.
©COPYRIGHT 2025, ALL RIGHTS RESERVED 3
, Which of the following is REQUIRED coverage for all newly-issued group
disability (accident & health)
policies?
Alcohol treatment.
Wage loss due to unemployment.
Long-term disability.
Vision care. - Correct answer-Alcohol treatment.
Which term refers to insurance written on the interests of the licensee, the
licensee's employer, or the licensee's immediate family?
Controlled business.
Surplus lines.
Fraternal organization.
Reinsurance. - Correct answer-Controlled business.
What is considered interstate travel under the Federal Fraud and False Statements
Act?
©COPYRIGHT 2025, ALL RIGHTS RESERVED 4
Exam 3 Questions and Answers Graded
A+
What is the consequence for an intermediary's failure to pay his/her biennial
license fee?
Intermediary is incarcerated by the Insurance Commissioner.
Intermediary's license is suspended for 180 days.
Intermediary's license is revoked.
Intermediary's commission rate is reduced. - Correct answer-Intermediary's license
is revoked.
Which of these situations would NOT potentially involve a prison sentence under
Federal law?
Selling insurance with a nonresident license.
©COPYRIGHT 2025, ALL RIGHTS RESERVED 1
,Misappropriating insurance premiums.
Embezzlement of an insurer's funds.
Sending threatening letters to an insurer. - Correct answer-Selling insurance with a
nonresident license.
How long can pre-existing conditions be excluded in long-term care policies?
6 months.
12 months.
18 months.
24 months. - Correct answer-6 months.
What is the proper procedure for an intermediary to change his/her mailing
address?
Notify the Governor's office in writing within 15 days.
Notify the Commissioner's office in writing within 30 days.
Notify the appointing insurer in writing within 15 days.
©COPYRIGHT 2025, ALL RIGHTS RESERVED 2
,Notify the Commissioner's office via telephone within 30 days. - Correct answer-
Notify the Commissioner's office in writing within 30 days.
Health providers are compensated by a preferred provider organization (PPO) for
normal dental procedures by what means?
Usual and customary fee schedules.
Increased fee schedules.
Decreased fee schedules.
Indemnity fee schedules. - Correct answer-Decreased fee schedules.
According to the Affordable Care Act, new Health Insurance Marketplaces are
established by the
ICIICO.
CCIIOO.
CCOII.
CCIIO. - Correct answer-CCIIO.
©COPYRIGHT 2025, ALL RIGHTS RESERVED 3
, Which of the following is REQUIRED coverage for all newly-issued group
disability (accident & health)
policies?
Alcohol treatment.
Wage loss due to unemployment.
Long-term disability.
Vision care. - Correct answer-Alcohol treatment.
Which term refers to insurance written on the interests of the licensee, the
licensee's employer, or the licensee's immediate family?
Controlled business.
Surplus lines.
Fraternal organization.
Reinsurance. - Correct answer-Controlled business.
What is considered interstate travel under the Federal Fraud and False Statements
Act?
©COPYRIGHT 2025, ALL RIGHTS RESERVED 4
