Wisconsin life and health practice exam

1. In Wisconsin insurance law, licensed agents are referred to as:

1. Solicitors
2. Brokers only
3. Intermediaries
4. Representatives

2. How many CE credit hours must a Wisconsin resident intermediary complete biennially?

1. 24 hours, with no ethics requirement
2. 24 hours, including at least 3 hours of ethics
3. 16 hours, including 3 hours of ethics
4. 30 hours, including 3 hours of ethics

3. Which statement about excess CE credits in Wisconsin is correct?

1. All excess credits carry forward
2. Only ethics credits carry forward
3. Up to 12 credits carry forward
4. Excess credits cannot be carried forward to the next reporting period

4. Before selling long-term care insurance in Wisconsin, an intermediary must complete:

1. No additional training
2. 4 hours once
3. 8 hours of initial training, including 2 hours on Wisconsin Medicaid, then 4 hours of ongoing training
4. 16 hours every year

5. A newly licensed Wisconsin intermediary who wants to sell annuities must complete annuity best interest training of:

1. 4 hours
2. 1 hour
3. 8 hours
4. 16 hours

1. Wisconsin requires an individual life policy to provide a grace period for premiums after the first of not less than:

1. 60 days
2. 31 days
3. 30 days
4. 10 days

2. In Wisconsin, an individual life policy may not be contested after it has been in force during the insured's lifetime for:

1. 2 years from the date of issue
2. 3 years from the date of issue
3. 1 year from the date of issue
4. 5 years from the date of issue

3. If the insured's age or sex was misstated on a Wisconsin life policy and was not corrected during the insured's lifetime, the amount payable is:

1. Nothing, because the policy is void
2. The full face amount
3. A refund of premiums
4. What the premium paid would have purchased at the correct age or sex

1. Wisconsin allows the holder of an individual disability (health) policy to return it within:

1. 20 days after receipt
2. 45 days after receipt
3. 10 days after receipt
4. 30 days after receipt

2. In Wisconsin, Medicare supplement and long-term care policies may be returned for a refund within:

1. 10 days of delivery
2. 60 days of delivery
3. 20 days of delivery
4. 30 days of delivery

1. Wisconsin's guaranty fund, which also covers property and casualty insurance, is called the:

1. Insurance Guaranty Corporation
2. Policyholder Protection Fund
3. Insurance Security Fund
4. Life and Health Insurance Guaranty Association

2. The Wisconsin Insurance Security Fund's obligation on a single life, regardless of the number of policies, may not exceed:

1. $250,000
2. $300,000
3. $500,000
4. $100,000