Wisconsin insurance - Study guides, Class notes & Summaries

What kind of retirement plan can a 75-employee for profit corporation establish? - ANSWER-Simple IRA The taxable portion of a monthly income benefit paid during the annuity phase from a nonqualified annuity is calculated using the - ANSWER-Exclusion ratio Unfair claims settlement methods and practices by an insurance company include all of the following acts EXCEPT - ANSWER-failure to pay all claims that are reported within 90 days after a loss occurs The settlement option that allows p...

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 laws - In the business to make money for it's shareholders -Policyholders do not receive dividends -Dividends if specified for distribution are subject to taxation Mutual Companies/Participating I...

PSI Life Exam/Answered/Graded A+/Latest 2023/2024 What kind of retirement plan can a 75-employee for profit corporation establish? Simple IRA The taxable portion of a monthly income benefit paid during the annuity phase from a nonqualified annuity is calculated using the Exclusion ratio Unfair claims settlement methods and practices by an insurance company include all of the following acts EXCEPT failure to pay all claims that are reported within 90 days after a loss occurs The settle...

Wisconsin Insurance Exam 2024/2025 Questions with 100% Correct Answers Adverse selection - Trying to get a policy for events that are already occurring, or are knowingly going to happen (Life insurance policy before committing suicide, home insurance while a fire is destroying home, etc) Aleatory - A contract in which the consideration or monetary value between the parties is not equal The policy holder pays a premium and may collect nothing from the insurer is no loss occurs; h...

WISCONSIN ACCIDENT AND HEALTH INSURANCE EXAM | 2 ACCURATE CURRENTLY TESTING VERSIONS WITH ACCURATE REAL EXAM QUESTIONS AND VERIFIED ANSWERS 2024/2025 | EXPERT VERIFIED FOR GUARANTEED PASSWISCONSIN ACCIDENT AND HEALTH INSURANCE EXAM | 2 ACCURATE CURRENTLY TESTING VERSIONS WITH ACCURATE REAL EXAM QUESTIONS AND VERIFIED ANSWERS 2024/2025 | EXPERT VERIFIED FOR GUARANTEED PASS

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 I lose Pure Risk - I lose or I do not lose Peril - The actual cause of a loss Natural, Human, Economical, etc Hazard - Situations or factors that may increase the possibility of a loss Common Typ...

Wisconsin Insurance Laws and Rules Q & A 2024/2025 with Complete Solution Actuary - A person who calculates policy rates, reserves and dividends, and makes other applicable statistical studies and reports. Affirmative Warranty - An express or implied positive representation in the policy which guarantees an existence of a fact at the time the policy was entered into. Alien Insurance Company - A company that is chartered and organized in any country other than the United States. A...

Ch. 11 Wisconsin Insurance Laws and Rules Questions with 100% Actual correct answers | verified | latest update | Graded A+ | Already Passed | Complete Solution

Wisconsin Insurance Regulations Exam Questions with 100% Correct Answers