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Wisconsin Insurance bundled exams with complete solution everything you need to pass is here
Wisconsin Insurance bundled exams with complete solution everything you need to pass is here
[Meer zien]Wisconsin Insurance bundled exams with complete solution everything you need to pass is here
[Meer zien]1x verkocht
Stock insurer - - Owned by stockholders/shareholders 
- Pays taxable dividends to shareholders if a profit is 
made 
-Issues nonparticipating policies (non-PAR) 
Mutual Insurer - - An insurer that is owned by its policyholders 
- If company is profitable, excess premiums are returned as non-taxable ...
Voorbeeld 1 van de 4 pagina's
In winkelwagenStock insurer - - Owned by stockholders/shareholders 
- Pays taxable dividends to shareholders if a profit is 
made 
-Issues nonparticipating policies (non-PAR) 
Mutual Insurer - - An insurer that is owned by its policyholders 
- If company is profitable, excess premiums are returned as non-taxable ...
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 - I win or ...
Voorbeeld 2 van de 10 pagina's
In winkelwagenRisk - 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 - I win or ...
Commercial Insurers /Private insurance companies - -In the business of selling insurance for a 
profit 
-Stock and Mutual insurers 
Multi-line insurer - An insurance company selling more than one line of insurance 
Stock Companies/Nonparticipating Insurers - -Organized and incorporated under state l...
Voorbeeld 2 van de 13 pagina's
In winkelwagenCommercial Insurers /Private insurance companies - -In the business of selling insurance for a 
profit 
-Stock and Mutual insurers 
Multi-line insurer - An insurance company selling more than one line of insurance 
Stock Companies/Nonparticipating Insurers - -Organized and incorporated under state l...
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 annuity -...
Voorbeeld 4 van de 59 pagina's
In winkelwagenDividends 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 annuity -...
tock 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 owners rece...
Voorbeeld 3 van de 22 pagina's
In winkelwagentock 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 owners rece...
Which of these is true regarding the exchange of consideration among parties involved in an insurance 
contract - Can be unequal 
Who typically makes the purchase payments in an individual annuity? - owner 
Death benefits from a life insurance policy are normally considered to be - exempt from feder...
Voorbeeld 3 van de 19 pagina's
In winkelwagenWhich of these is true regarding the exchange of consideration among parties involved in an insurance 
contract - Can be unequal 
Who typically makes the purchase payments in an individual annuity? - owner 
Death benefits from a life insurance policy are normally considered to be - exempt from feder...
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...
Voorbeeld 3 van de 23 pagina's
In winkelwagenHow 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...
If a person owns and occupies real property as a home and the property is destroyed by a covered peril, 
through no criminal fault of the insured, the value of the property will be considered to be 
1. What a willing buyer would pay to a willing seller. 
2. What similar type structures in the area a...
Voorbeeld 2 van de 6 pagina's
In winkelwagenIf a person owns and occupies real property as a home and the property is destroyed by a covered peril, 
through no criminal fault of the insured, the value of the property will be considered to be 
1. What a willing buyer would pay to a willing seller. 
2. What similar type structures in the area a...
he Commissioner of Insurance has the power to do all of the following EXCEPT - pass insurance laws 
The Commissioner has the duty to examine all of the following EXCEPT - temporary work agencies 
that supply clerical 
Before the Commissioner revokes the license of an intermediary, the Commissioner m...
Voorbeeld 1 van de 4 pagina's
In winkelwagenhe Commissioner of Insurance has the power to do all of the following EXCEPT - pass insurance laws 
The Commissioner has the duty to examine all of the following EXCEPT - temporary work agencies 
that supply clerical 
Before the Commissioner revokes the license of an intermediary, the Commissioner m...
Who must have an intermediary's license? - Anyone wishing to sell insurance in Wisconsin 
Which of the following need an intermediary's license? 
-Insurance company officers... 
-An insurance "advisor"... 
-Agency secretary... 
-A person entering confidential information in a database... - An in...
Voorbeeld 2 van de 5 pagina's
In winkelwagenWho must have an intermediary's license? - Anyone wishing to sell insurance in Wisconsin 
Which of the following need an intermediary's license? 
-Insurance company officers... 
-An insurance "advisor"... 
-Agency secretary... 
-A person entering confidential information in a database... - An in...
tock insurer - - Owned by stockholders/shareholders 
- Pays taxable dividends to shareholders if a profit is 
made 
-Issues nonparticipating policies (non-PAR) 
Mutual Insurer - - An insurer that is owned by its policyholders 
- If company is profitable, excess premiums are returned as non-taxable d...
Voorbeeld 1 van de 4 pagina's
In winkelwagentock insurer - - Owned by stockholders/shareholders 
- Pays taxable dividends to shareholders if a profit is 
made 
-Issues nonparticipating policies (non-PAR) 
Mutual Insurer - - An insurer that is owned by its policyholders 
- If company is profitable, excess premiums are returned as non-taxable d...
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 violate the law 
Offer - ...
Voorbeeld 4 van de 34 pagina's
In winkelwagenFAIR - 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 violate the law 
Offer - ...
What is coersion? - A forceful act or threat aimed to influence a person to act against their will 
What is exempt? - Not subject to an obligation 
What is an inducement? - an offer that attmepts to influence the other party 
What is insolvent? - Unable to meet financial obligations 
What is Lapse? ...
Voorbeeld 3 van de 16 pagina's
In winkelwagenWhat is coersion? - A forceful act or threat aimed to influence a person to act against their will 
What is exempt? - Not subject to an obligation 
What is an inducement? - an offer that attmepts to influence the other party 
What is insolvent? - Unable to meet financial obligations 
What is Lapse? ...
An insurer decides to renew a policy but at a higher premium rate, starting on the renewal date. How 
many days in advance must the insured be notified? 
1. 60 days 
2. 90 days 
3. 100 days 
4. 30 days - 1. 60 days 
Which of the following includes information regarding a person's credit, character,...
Voorbeeld 2 van de 8 pagina's
In winkelwagenAn insurer decides to renew a policy but at a higher premium rate, starting on the renewal date. How 
many days in advance must the insured be notified? 
1. 60 days 
2. 90 days 
3. 100 days 
4. 30 days - 1. 60 days 
Which of the following includes information regarding a person's credit, character,...
What is the purpose of the Wisconsin State Life Insurance Fund? 
a) to offer low-cost life insurance to state residents 
b) To protect insured against insolvent insurers 
c) To advertise different types of life insurance policies available in the state 
d) To provide life insurance through licensed ...
Voorbeeld 4 van de 42 pagina's
In winkelwagenWhat is the purpose of the Wisconsin State Life Insurance Fund? 
a) to offer low-cost life insurance to state residents 
b) To protect insured against insolvent insurers 
c) To advertise different types of life insurance policies available in the state 
d) To provide life insurance through licensed ...
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