Property and Casualty Illinois Practice Exam Questions with 100% Correct Answers

The head of the Illinois Department of Insurance is the Correct Answer Insurance Director An Insurance Producer who violates a cease and desist order issued by the head of the insurance department may have his license suspended or revoked and be fined a maximum penalty of Correct Answer $5,000 Which of the following is NOT included in the general powers of the insurance director? Correct Answer Developing and writing insurance education courses What is the daily fine that may be assessed against a person who disobeys a cease and desist order of the insurance director Correct Answer $100 The director will conduct examinations of companies not less frequently than every Correct Answer 5 years A licensed insurance producer, limited lines producer, or temporary insurance producer who is convicted of a felony must report the conviction to the insurance director within how many days of the judgments entry date Correct Answer 30 What is the minimum number of prelicensing study hours required for a producer's license in casualty insurance Correct Answer 20 hours An insurance producer must complete how many hours of continuing education in each compliance period? Correct Answer 24 hours The fine for engaging in unfair trade practice after being issued a cease and desist order is Correct Answer $1,000 per violation The Illinois producer exam consists of two parts, which must be passed within how many days of each other Correct Answer 90 days A business entity acting as an insurance producer must obtain what kind of license? Correct Answer Insurance producer license An applicant for an insurance producer's license may be granted a temporary insurance producer's license that normally expires after how many days? Correct Answer 90 days In the case of a deceased licensed insurance producer, the director may extend a temporary insurance producer license to the administer or executor for a period not to exceed a total of how many days? Correct Answer 180 days