Wisconsin Insurance Exam Questions and Correct Answers | Latest Update

Dividends from a stock company are normally sent to: Beneficiaries Shareholders Policy holders Insureds -:- Shareholders Which of the following financial products creates an instant estate, no matter when the date of death? Mutual funds Life insurance Certificate of deposit Deferred a...

Risk -:- Not Knowing what will happen in the future and the possibility the outcome will be negative Defined As: Chance of Loss Possibility of Loss Uncertainty of Loss Types of Loss -:- 1. Financial -Loss of house to loss of life 2. Non-Financial -Loss of Friendship Speculative Risk ...

Stock Companies -:- -private organization focused to make profits for shareholders -Stock dividends are paid to stock holders -policyholders do not participate Mutual Companies -:- -have no stock holders -owners are policy owners -policy holders can vote for members of the board -policy ...

FAIR -:- Fair Access to Insurance Requirements Elements of a Legal Contract. L. O. A. C. -:- • Consideration • Legal Purpose • Offer • Acceptance • Competent Parties Consideration -:- Money and statements made on application Legal Purpose -:- Risk transfer doesn't viola...

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 Associ...