10 exam-style questions with answers and explanations, straight from our 1,030-question bank. Tap an answer to check yourself. When you're ready, take the scored version in the free practice test.
The WI-PROP exam has 100 questions and runs 2 hours.
These 10 free WI-PROP questions are organized by exam domain, so you can see how each part of the Wisconsin Property Insurance Producer Exam blueprint is tested. Reveal the answer and explanation under each question.
A Wisconsin resident Property intermediary has 26 approved continuing-education hours banked for the current biennium, but only 2 are ethics. Before the license expires, what remains to be done?
Correct answer: B - Complete and have banked at least 1 additional approved ethics hour
An unlicensed, salaried agency employee explains substantive differences between HO-3 and HO-5, recommends HO-5, and urges a customer to authorize an application. Which licensing analysis is sound?
Correct answer: D - The employee is soliciting or negotiating and needs an appropriate intermediary license
A producer deposits a customer's $12,000 premium into the agency operating account, uses $8,000 for payroll, and restores the money before the insurer's remittance deadline. The intentional payroll withdrawal is best described as:
Correct answer: A - Conversion of fiduciary premium funds
A Wisconsin homeowner cannot obtain basic property coverage in the voluntary market. The Property producer has no agency contract with the Wisconsin Insurance Plan. How should the producer proceed?
Correct answer: C - Help submit the WIP application without claiming authority to bind coverage
An insurer raises a homeowners policy premium after relying partly on a consumer report. The Fair Credit Reporting Act adverse-action notice must tell the consumer that:
Correct answer: B - A free report may be requested from the named agency within 60 days
A covered fire wholly destroys an owner-occupied single-family dwelling validly insured under a Wisconsin property policy. No fraud or intentional loss is involved. For this total loss, Wisconsin's valued-policy rule treats:
Correct answer: C - The policy amount as the conclusive value and amount of loss
A general contractor asks a producer to add a 30-day cancellation-notice right to a certificate of insurance, although the policy grants no such right. What must occur to create that notice right?
Correct answer: B - The insurer issues an endorsement granting the notice right
After terminating all actual authority, an insurer leaves a producer on its public website and fails to recover branded applications. A customer reasonably believes the producer can bind coverage. The customer's belief is based on:
Correct answer: D - Apparent authority
A property insurer reports $540,000 of incurred losses, $60,000 of loss-adjustment expenses, $800,000 of earned premium, and $750,000 of written premium. What is its loss-and-LAE ratio, and what does the result mean?
Correct answer: C - 75%; losses and LAE consumed 75 cents per earned-premium dollar
A Businessowners Policy includes BP 04 30, with P-1 automatic sprinkler shown in the schedule. The insured knowingly shuts off the system for six weeks of remodeling and never notifies the insurer. A fire occurs while the system is disabled. What is the claim result?
Correct answer: D - No payment is due for the fire loss under the protective-safeguards condition
The WI-PROP exam also covers these domains. Drill them in the full free practice test:
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