WISCONSIN LIFE INSURANCE BUNDLE PACKAGE QUESTIONS WITH CORRECT ANSWERS

Life Insurance Exam – Wisconsin Mortality - Answer- The rate people will die Morbidity - Answer- The rate people will get sick Peril - Answer- The cause of loss and the event insured against. Ex: premature death, dependency during old age, accident, and sickness Adverse Selection - An...

Wisconsin Life Insurance Exam Prep Stock insurer - Answer- - Owned by stockholders/shareholders - Pays taxable dividends to shareholders if a profit is made -Issues nonparticipating policies (non-PAR) Mutual Insurer - Answer- - An insurer that is owned by its policyholders - If company is ...

Wisconsin Life Insurance risk - Answer- chance or uncertainty of loss pure risk - Answer- -insurable risk -only a loss can be produced speculative risk - Answer- -an uninsurable risk -because there is a chance of profit or loss name two examples of the pooling concept, or law of large ...

Exam FX - Wisconsin Life agent/producer - Answer- legal representative of insurance company Applicant or proposed insured - Answer- a person applying for insurance beneficiary - Answer- one who receives benefits of insurance policy Death Benefit - Answer- The amount payable upon the deat...

Wisconsin Life Insurance Exam Any person who violates an insurance statute or rule of Wisconsin can be fined up to: (hint: enough for vacation for two to the Maldives) - Answer- $10,000 The Federal Fair Credit Reporting Act: - Answer- Regulates consumer reports The Federal Fair Credit Repor...