Health (Illinois Statutes and Regulations Common to ALL Lines)

What is the maximum fine for a violation of a cease and desist order?

$1,000

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?

10

What is the minimum age for applying for a limited lines producer license?

18

The Director may refuse to issue a license if a licensee's aggregate amount of premiums on controlled business exceeded the aggregate amount of premiums on all other insurance business during

2 calendar years immediately preceding the extension date of the license

A producer whose license is revoked or whose application for a license is denied will be ineligible to reapply for any license for at least

3 years

A producer receives notice that his license has been terminated. If the producer wants to have the charges reviewed in court, within what time period must the request be made?

30 days

All of the following are true regarding reinstatement of a lapsed producer license EXCEPT

A producers license may be reinstated within 24 months without having to pass a written exam

Which of the following would be required to be licensed as an insurance producer?

A salaried employee who advertises and solicits insurance

How often is a resident insurance producer required to pay license fees?

Every 2 years

Which of the following is an example of an unfair claims settlement practice?

Failure to promptly settle a claim when liability has been clearly established

An insurance company that routinely ignores all letters and phone calls from insureds that have filed claims is

Guilty of an unfair claim settlement practice

Which of the following best describes a misrepresentation?

Issuing sales material with exaggerated statements about policy benefits

All policy applications must identify which of the following?

Producer who solicited the applicant's business

Which of the following is correct regarding the director's ability to revoke or suspend a producer's license?

The producer must be given the reason, in writing for the nonrenewable, suspension, or denial of a license, and has the right to request a hearing within 30 days

What consequences will occur if a producer acts without a bond that is required?

The producers license may be revoked