Free Insurance Regulation Practice Questions
Illinois Property exam — 182 practice questions.
Subtopics: 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, Property line 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, Termination for cause, Termination notice to producer, Producer response, Renewal commissions, Producer fees, Fee refund, Cancellation fee, Producer disclosure, Controlled business, Controlled business defined, Producer bond, Bond amount, Bond information request, License fees, Inactive status, Examination report hearing, Examination access, Director rulemaking, Emergency cease and desist, Order violation forfeiture, 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, Return premium, PFTA interest, PFTA checks, Rebating penalty, Rebate and commission, Accepting a rebate, 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, Other insurers, Guaranty Fund purpose, Guaranty Fund cap, Unearned premium claims, Guaranty Fund scope, Guaranty Fund and flood, Claims after liquidation, Covered claim residency, Agent contract terminated, Independent agent termination, Renewals after termination, New business during notice, Prior refusal, Withdrawing a line, Short-rate cancellation, Dishonored initial premium, Proof of mailing, Who gets notice, Financed policy refund, Nonpayment notice, Commercial cancellation early, Commercial cancellation later, Commercial cancellation grounds, Commercial nonrenewal, Commercial renewal increase, Notice immunity, Hearing request deadline, Coverage during appeal, Hearing timeline, Hearing costs, Nonrenewal reasons, Certificate of insurance effect, Certificate holder notice, Improper certificate, Certificate warranty, Producer as premium finance, Finance company license, Finance cancellation notice, Finance service charge, Personal policy finance checks, Fraud reporting immunity, Claims fraud act, Claims fraud lawsuits, Credit act scope, Credit-only decisions, Insurance score factors, Credit disclosure, 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, Surplus lines, Fair Credit Reporting Act, Fraud and false statements, Gramm-Leach-Bliley, Terrorism Risk Insurance Act, Motor Carrier Act, Do Not Call, McCarran-Ferguson Act, Flood Disaster Protection Act, Biggert-Waters Reform Act, Federal Insurance Office, FAIR Plan origins, Coastal Barrier Resources Act, McCarran-Ferguson antitrust, Gramm-Leach-Bliley opt-out, Gramm-Leach-Bliley notice, FCRA investigative report, FCRA free report, TRIA certification, TRIA federal share, TRIA program trigger, TRIA insurer deductible, TRIA lines covered, TRIA disclosure, 18 USC 1033 penalty, Nonadmitted and Reinsurance Reform Act, Surplus lines diligent search, Exempt commercial purchaser, Guaranty association - surplus lines, Guaranty association purpose, Rebating, Boycott, coercion, intimidation, Unfair claims practices, Commingling premiums, Mandatory flood purchase amount, Force-placed flood, Private flood acceptance, HFIAA surcharge, Risk retention groups, Privacy model - adverse underwriting, Do Not Call existing relationship
Read the Insurance Regulation study guide
Sample questions & answers
1. An Illinois resident license applicant passes the General portion of the producer exam. Within what period must the State portion also be passed?
Within 90 days of the other part
Section 500-25 requires both parts of the examination to be passed within 90 days of each other.
2. Before the Director approves a resident producer license, the applicant must be at least what age?
18
Section 500-30(a)(1) requires the Director to find that the applicant is at least 18 years of age.
3. What is the minimum length of the Illinois pre-licensing course for the Fire (Class 3) line of insurance?
20 hours
Section 500-30(b) sets 20 hours for Fire (Class 3); only Motor Vehicle has the shorter 12.5-hour course.
4. An applicant who successfully completes both the Fire and the Casualty pre-licensing courses has also satisfied the pre-licensing requirement for which line?
Personal Lines-Property and Casualty
Section 500-30(a)(3) states that completing the Fire and Casualty pre-licensing courses also meets the Personal Lines-Property and Casualty requirement.
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.
