PSI Life Exam Practice Test

In Wisconsin, which of the following licenses is exempt from continuing education requirements?

1. Life insurance

2. Health insurance

3. Credit insurance

4. Property and casualty insurance

The correct answer is: Credit insurance

The correct response is that credit insurance licenses are exempt from continuing education requirements in Wisconsin. This exemption is based on the regulatory framework that recognizes the unique status of credit insurance in the insurance market. Credit insurance typically covers debts or loans in case of death, disability, or other specific events, and it is often sold as part of a loan agreement. By being exempt from continuing education, it acknowledges that professionals who primarily sell credit insurance may not require the same level of ongoing training as those in other insurance sectors, such as life or health insurance, where regulations and practices change more frequently. This allows agents focused on credit insurance to maintain their licensing without the additional burden of meeting continuing education credits, facilitating focus on their primary business activities while ensuring that their competency remains sufficient for the products they offer.