Illinois Statutes & Regulations All Lines Flashcards
Applicants must pass both parts of the licensing exam within how many days?
90 Days
Change of address (business, resident, mailing or email) must be reported to the Director within how many days?
30 Days
Nonresident producers must file a change of address within how many days of moving out of the state?
30 Days
The Director May issue a temporary non-producer license for a maximum of how many days to a surviving spouse, business partner or employee of a producer dies, becomes disabled, or is called to active military service?
180 Days
A temporary producer license may be issued for how many days provided the applicant is currently enrolled in a pre-licensing course.
90 Days
What is the minimum age to obtain a producer license?
18 Years
Biennial (every two years) few for a current state insurance producer’s license and also for a nonresident license?
$180 - State License
$250 - Nonresident License
Pre-Licensing Study Requirements
1) How many hours per line of authority?
2) Minimum number of hours spent in the classroom?
1) 20 Hours
2) 7.5 Hours
Continuing Education
1) Total CE hours required for each two year licensing period?
2) How hours ethics courses must be included in the total CE hours?
1) 24 Hours
2) 3 Hours
How many months after the due date of a renewal can a license be reinstated?
12 Months
Civil Penalties for Insurance Licensing Violations
1) Maximum penalty for each cause
2) Maximum penalty for all causes
1) $10,000
2) $100,000
Licenses must report felony convictions within how many days?
30 Days
What is the maximum penalty for unfair claims practices?
$250,000
What is the maximum penalty for misrepresentation?
$10,000
What is the maximum penalty for defamation?
$10,000
What is the maximum penalty for unfair marketing practices per violation?
$1,000