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IL Statutes And Regulations Common To All Line 25% With Complete Solutions 2024
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IL Statutes And Regulations Common To All Line 25% With Complete Solutions 2024
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IL Statutes And Regulations Common To AllLine 25% With Complete Solutions 2024
C Answer: What is the maximum fire for a violation of a cease and desist order?
A. $100
B. $500
C. $1000
D. $5000
D Answer: All of the following are regulated area of the insurance industry EXCEPT
A. Procedure
B. Trade practice
C. Investments
D. Commissions
D Answer: What are the general duties of the Director of Insurance?
A. Make rules to implement the insurance code
B. Conduct investigations
C. Enforce Illinois insurance laws
D. All of the above
C Answer: Which of the following is NOT a duty of the Director of Insurance?
,A. Enforcing the insurance code
B. Issuing Certificates of Authority
C. Setting premium rates
D. Examining authorized insurers
D Answer: The director regulates insurance rates through detailed rate reviews. The Director will
prohibit insurance rates that are
A. Excessive
B. Inadequate
C. Unfairly discriminatory
D. Any of the above
A - 10days prior Answer: The director issued a written notice about hearing for a business entity.
The hearing is scheduled for May 1st. The affected business entity should receive the notice to later than
A. April 20th
B. April 1st
C. 3 business days before the hearing
D. 2 weeks in advance
B Answer: Within how many days may a person who is being examined by the Director for non
financial business practices request a hearing after receiving the examination report?
A. 3 days
B. 10 days
, C. 15 days
D. 30 days
A Answer: Which of the following would be required to be licensed as an insurance producer?
A. A salaries employee who advertises and solicits insurance
B. A person whose activities are limited to producing insurance advertisements
C. A salaried full-time employee who furnished information for group insurance
D. An insurance company director who performs executive, administrative and managerial duties
A Answer: What type of license does an individual need to obtain in order to solicit and sell
insurance?
A. Producer's license
B. Business entity license
C. Broker's license
D. Insurer's license
D Answer: Which of the following persons is required to hold a producer license?
A. A person who creates insurance advertisement
B. A person who takes messages related to claim
C. A person who administers employer benefits
D. A person who negotiates insurance contracts
D Answer: Of the following persons which one would be required to hold a producer's license?
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