Free Insurance Regulation Practice Questions
Illinois Property & Casualty exam — 211 practice questions.
Subtopics: Casualty line of authority, Tort system, Auto minimum BI per person, Auto minimum BI per accident, Auto minimum property damage, Uninsured motorist, Underinsured motorist, UMPD deductible, Cancellation first 60 days, Cancellation after 60 days, Cancellation notice nonpayment, Appeal rights in notice, Commercial nonrenewal notice, Nonresident proof, Auto residual market, Guaranty fund purpose, Guaranty fund cap, Guaranty fund WC exception, FAIR Plan, FAIR Plan notice exception, WC Commission, WC market structure, License requirement, Surplus lines, Unfair claims practice, Misrepresentation, Rebating, Fiduciary funds, Notice content, Binder, Form review, Exam timing, Minimum age, Pre-licensing hours, Pre-licensing crossover, Pre-licensing classroom, License term, CE hours, CE ethics, CE association credit, CE noncompliance, Lapsed license, Lapse penalty, Change of address, Personal lines defined, Nonresident license, Moving out of state, Moving into Illinois, Business entity license, Temporary license, Temporary license limit, Licensing exemption, Multistate commercial exemption, Advice for a fee, Acting without license, Grounds for discipline, License hearing demand, Civil penalty, Reapplying after revocation, Felony reporting, Applicant convictions, Arrest records, Termination for cause, Termination notice to producer, Producer response, Renewal commissions, Producer fees, Fee disclosure records, Fee refund, Producer disclosure, Controlled business, Controlled business defined, Producer bond, Bond amount, Bond cancellation, License fees, Inactive status, Examination report hearing, Director rulemaking, Emergency cease and desist, Order violation forfeiture, Subpoena power, Hearing notice, Hearing location, Market conduct exam, Examination costs, Premium received by producer, Late charges, Premium conversion, Premium fund trust account, PFTA use, PFTA location, Record retention, Record posting, Return premium, PFTA interest, PFTA checks, Rebating penalty, Rebate and commission, Defamation, State approval implied, Section 149 penalty, Twisting, Boycott and coercion, Unfair discrimination, Applicant misrepresentation, Rescission limit, Improper claims practice, Claim forms, Lowball offers, Failure to appear, Claim payment timing, Denial explanation, Polygraph, Final payment wording, Liability claimants, Other insurers, Unearned premium claims, Guaranty Fund scope, Guaranty Fund and flood, Net worth exclusion, Claims after liquidation, Fund assessments, Agent contract terminated, Independent agent termination, Renewals after termination, New business during notice, Prior refusal, Withdrawing a line, Short-rate cancellation, Dishonored initial premium, Short-term binders, Short-term policies, Proof of mailing, Who gets notice, Financed policy refund, Commercial cancellation early, Commercial cancellation later, Commercial cancellation grounds, Loss of reinsurance, Commercial nonrenewal, Commercial renewal increase, Missed renewal notices, Notice immunity, Hearing request deadline, Coverage during appeal, Hearing timeline, Hearing outcome, Hearing costs, Nonrenewal reasons, Defective nonrenewal, Certificate of insurance effect, Certificate holder notice, Improper certificate, Certificate defined, Producer as premium finance, Finance company license, Finance cancellation notice, Finance service charge, Finance agreement form, Personal policy finance checks, Delinquency charge, Fraud reporting immunity, Fraud referrals, Claims fraud act, Claims fraud lawsuits, Credit act scope, Credit-only decisions, Insurance score factors, Credit disclosure, Adverse action notice, Credit error correction, Credit report age, Hate crime claims, Hate crime evidence, Hate crime insureds, Customer affairs department, Customer affairs phone, Rejection by location, P&C form filing, Federal fraud statute, Fair Credit Reporting Act, Gramm-Leach-Bliley, Terrorism Risk Insurance Act, Do Not Call, McCarran-Ferguson Act, NAIC role, Unfair claims settlement, Anti-money laundering, Fraud warning statements, Federal Insurance Office, Surplus lines regulation, Risk retention groups, Unfair trade practices, Fiduciary duties, Insurer solvency, Producer licensing, Fraud, Federal regulation
Read the Insurance Regulation study guide
Sample questions & answers
1. Under Illinois law, which line of authority covers insurance against legal liability for injuring others or damaging their property?
Casualty
Section 500-35(a)(5) defines Casualty as coverage against legal liability, including for death, injury, disability or damage to property; Property covers loss to property itself.
2. Illinois handles liability for auto accidents under what system?
An at-fault system with modified comparative negligence
Illinois is an at-fault (tort) state using modified comparative negligence: a party less than 50% at fault may recover, reduced by that party's share of fault.
3. The Illinois minimum bodily injury liability limit per person is:
$25000
Illinois requires bodily injury liability limits of at least $25000 per person.
4. The Illinois minimum bodily injury liability limit per accident is:
$50000
Illinois requires bodily injury liability limits of at least $50000 per accident.
All Property & Casualty topics
Practice: Insurance Regulation
Answer choices are shuffled every time, and every question comes with an explanation.
Practice questions are study aids generated for exam preparation and are not actual exam questions. Content is provided for educational purposes and is not legal advice. Verify current statutes, rules, and exam specifications with the Insurance Department and the exam administrator before relying on it.
