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Illinois Life Producer (State-Specific) questions with 100% correct answers
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Illinois Life Producer (State-Specific) questions with 100% correct answers
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Illinois Life Producer (State-Specific)Cease and Desist order:
Maximum fine each day & Maximum total penalty - correct answer ✔✔$100 per day & $5,000 maximum
The director must examine an insurer once every ___ years - correct answer ✔✔5 years
Maximum fine for Director of Insurance's refusal to submit an examination - correct answer ✔✔$2,000
Companies may request hearings within __ days of receiving an examination report - correct answer
✔✔10 days
Producer may request hearings within __ days upon receipt of a report - correct answer ✔✔14 days
Maximum fine of ___ for violating a written order issued by the director of insurance - correct answer
✔✔$20,000
Applicants must pass both parts of the licensing exam within ___ days - correct answer ✔✔90 days
Change of address must be reported to the director within ___ days - correct answer ✔✔30 days
Nonresident producers must file a change of address within ___ days of moving to another state -
correct answer ✔✔30 days
The director may issue a temporary non-producer license for a maximum of ___ days to a surviving
spouse, business partner, or employee if a producer dies, becomes disabled, or is called to active military
service - correct answer ✔✔180 days
, A temporary producer license may be issued for __ days provided that the applicant is currently enrolled
in a pre-license course - correct answer ✔✔90 days
Minimum age to obtain a producer's license - correct answer ✔✔18 years old
Biennial License fees:
$___ non-resident license - correct answer ✔✔$380 for non-resident license
Pre-Licensing studying requirement:
Hours per line of authority - correct answer ✔✔20 hours
Biennial License fees:
$___ insurance producer's license - correct answer ✔✔$215 for insurance producer
Pre-Licensing studying requirement:
Minimum number of hours in the classroom - correct answer ✔✔7.5 hours
Continuing Education:
Total CE hours required for each two-year licensing period - correct answer ✔✔24 credit hours
Continuing Education:
Includes ___ credit hours of service - correct answer ✔✔3 credit hours
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