I think your topic is in the wrong forum, btw. Anyways, so I just took that Exam yesterday! From what I remember, there were *40* multiple choice questions based on Wisconsin Law For Medical Practice (they provide a link with all the laws, sub-laws, and by-laws that you can view on line), and the exam is untimed and open book. Scoring a 90% or Higher is considered Passing (ie you can't get more than 4 questions wrong or else you'll fail). I passed the thing yesterday by taking my sweet sweet time reviewing the Law link and my all answers before submitting it. I recommend you do the same (take your time). Without blatently giving you the answers, I would *highly* recommend you brush up on Schedule I, II, III, IV, and V Drugs/Prescription Writing/Record Keeping 'cause those questions were very technical and took up about 25% of the Exam. Most of the rest of the exam was common sense if you ask me. So Best of Luck With That.
Secondly, it's hard to say what a Medical License in Wisconsin will do for you (especially if you don't live in Wisconsin). Last I checked, there is no reciprocity (at least initially) for State to State Medical Licensure. Each state has their own rules (Wisconsin and Wyoming being the only 2 states that allow for FMG's to be licensed with only 1 year of residency). I did hear that some FEDERAL INSTITUTIONS let your work in their facility in your current state as long as you have a valid license in a different state (ie in this case Wisconsin Medical License). There probably is institution-specific rules which you have to look into. That's all I really know on the subject so please don't ask me for specifics. There are no hard fast rules on this thing (ie being licensed with no actual specialty) you are off the beaten track for most U.S. physicians. Do your homework and call some Federal Places or Institutions in Wisconsin for specifics on the Moonlighting or General Practitioner work.
From my perspective, the way I see it, being that I am a US Citizen and FMG (who completed a Preliminary Year in IM and who has been scrambling for a residency spot): If I have the chance to become licensed, I'm going to take that opportunity. That way I will be one step closer to my ultimate goal of practicing medicine...