The purpose of licensing insurance intermediaries is to show to the satisfaction of the Commissioner all of the following EXCEPT that the applicant

• A. intends, in good faith, to do business as an intermediary
• B. is competent and trustworthy
• C. has not filed for bankruptcy within the last 3 years
• D. intends to abide by Wisconsin Insurance Law in writing controlled business

Answer: (C)

Licensing insurance intermediaries is about ensuring the person is fit to serve clients—they need to show they intend to do business in good faith as an intermediary, that they are competent and trustworthy, and that they will follow Wisconsin Insurance Law, including rules governing controlled business. These elements protect the public by confirming the applicant has the character and capability to act responsibly. The requirement about not having filed for bankruptcy within the last three years is not a stated condition for licensure, so it isn’t something the Commissioner must be satisfied with to issue a license.