Illinois Insurance Department: Key Roles, Licensing, and Regulations
Study online at https://quizlet.com/_jli4fc
1. Who appoints the Director of Insurance in The Governor
Illinois?
2. What is the Director's primary duty? Enforce and execute Illinois insurance
laws
3. Can the Director make insurance laws? No
4. Can the Director issue producer licenses? Yes
5. Can the Director issue cease and desist or- Yes
ders?
6. Cease and desist hearing must be held with- 20-30 days
in how many days?
7. What is the penalty for violating a cease and $100 per day up to $5,000
desist order?
8. How often must the Director examine insur- Every 5 years
ers at minimum?
9. Who pays the cost of an examination? The examinee
10. How many days does an examinee have to 10 days
request a hearing after receiving an exami-
nation report?
11. How much notice must be given before a At least 10 days
hearing?
12. What is the penalty for failing to obey a Up to $2,000
subpoena?
13. 14 calendar days
, Illinois Insurance Department: Key Roles, Licensing, and Regulations
Study online at https://quizlet.com/_jli4fc
How many days does a producer have to
request a hearing after a regulatory exami-
nation report?
14. Within how many days must the Director 90 days
issue an order after report filing or hearing?
15. What is the penalty for violating a written Up to $20,000
order after examination?
16. What is the minimum age for an Illinois pro- 18
ducer license?
17. What is the life prelicensing education re- 20 hours
quirement?
18. What is the accident and health prelicensing 20 hours
requirement?
19. What is the Illinois licensing exam process- $92
ing fee?
20. After passing the exam, how long must one 5 business days
wait before applying for a license?
21. What is the term length for a producer li- 2 years
cense?
22. What is the continuing education require- 24 hours every 2 years
ment for producers?
23. How many hours of required ethics CE must 3 hours
be completed?
Study online at https://quizlet.com/_jli4fc
1. Who appoints the Director of Insurance in The Governor
Illinois?
2. What is the Director's primary duty? Enforce and execute Illinois insurance
laws
3. Can the Director make insurance laws? No
4. Can the Director issue producer licenses? Yes
5. Can the Director issue cease and desist or- Yes
ders?
6. Cease and desist hearing must be held with- 20-30 days
in how many days?
7. What is the penalty for violating a cease and $100 per day up to $5,000
desist order?
8. How often must the Director examine insur- Every 5 years
ers at minimum?
9. Who pays the cost of an examination? The examinee
10. How many days does an examinee have to 10 days
request a hearing after receiving an exami-
nation report?
11. How much notice must be given before a At least 10 days
hearing?
12. What is the penalty for failing to obey a Up to $2,000
subpoena?
13. 14 calendar days
, Illinois Insurance Department: Key Roles, Licensing, and Regulations
Study online at https://quizlet.com/_jli4fc
How many days does a producer have to
request a hearing after a regulatory exami-
nation report?
14. Within how many days must the Director 90 days
issue an order after report filing or hearing?
15. What is the penalty for violating a written Up to $20,000
order after examination?
16. What is the minimum age for an Illinois pro- 18
ducer license?
17. What is the life prelicensing education re- 20 hours
quirement?
18. What is the accident and health prelicensing 20 hours
requirement?
19. What is the Illinois licensing exam process- $92
ing fee?
20. After passing the exam, how long must one 5 business days
wait before applying for a license?
21. What is the term length for a producer li- 2 years
cense?
22. What is the continuing education require- 24 hours every 2 years
ment for producers?
23. How many hours of required ethics CE must 3 hours
be completed?
