100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Wisconsin Life Insurance Exam(150 QUESTIONS FULLY SOLVED). $15.49   Add to cart

Exam (elaborations)

Wisconsin Life Insurance Exam(150 QUESTIONS FULLY SOLVED).

 7 views  0 purchase

Wisconsin Life Insurance Exam(150 QUESTIONS FULLY SOLVED).

Preview 4 out of 45  pages

  • August 13, 2024
  • 45
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
All documents for this subject (20)
avatar-seller
GUARANTEEDSUCCESS
Wisconsin Life
Insurance
Exam(150
QUESTIONS
FULLY SOLVED)
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 Reporting Act: A) Prevents
money laundering B) Regulates Consumer reports
C) Protects customer privacy D) Regulates

,telemarketing - answer Regulates consumer
reports


What form of the annuity settlement options
provides payments to an annuitant for the rest of
the annuitant's life and ceases at the annuitant's
death? (hint this is a water brand) - answer Pure
Life


During a life insurance policy replacement, the
insurer is required to provide the policyowner a
free-lock period of at least: - answer 30 days


When replacing a policy an insurer must maintain a
file containing copies of statements for: - answer 5
years


Which Universal Life option has a gradually
increasing cash value and a level of death benefit?
(Hint: Bottom of the alphabet, gradual = starting
point and go up from there A-Z) - answer Option A


The type of term insurance that provides
increasing death benefits as the insured ages is

,called: (hint: as you age your number is increasing)
- answer Increasing term


If a beneficiary wants a guarantee that benefits
paid from principal and interest would be paid for a
period of 10 years before being exhausted, what
settlement option should the beneficiary select?
A) Interest Only
B) Fixed Period
C) Life with period certain
D) Fixed amount - answer Fixed period


If a policy has an automatic premium loan
provision, what happens if the insured dies before
the loan is paid back? (hint: paid back, if you have
a loan you have to pay it back)
A) The policy beneficiary receives the FULL death
benefit.
B) The balance of the loan will be TAKEN OUT of
the death benefit - answer The balance of the loan
will be taken out of the death benefit


Are insurance company underwriters allowed to
discriminate? (hint: the answer to this is bogus bc

, why would you ever be allowed to discriminate but
the law is the stupid law)
A) No, discrimination is an unfair practice
B) Yes, but no unfairly - answer Yes, but not unfairly


Which of the following riders added to a life
insurance policy can pay part of the death benefit
___ home? (the question was incomplete in this
picture) (hint: home = nursing home = ______) -
answer long-term care


If a beneficiary wants a guarantee that benefits
paid from principal and interest would be paid for a
period of 10 years before being exhausted, what
settlement option should the beneficiary select?
A) Fixed period
B) Life with period certain - answer Fixed period


Which of the following settlement options in life
insurance is known as straight life?
A) Single life
B) Life with period certain
C) Fixed amount

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller GUARANTEEDSUCCESS. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $15.49. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

62890 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$15.49
  • (0)
  Add to cart