Property And Casualty Illinois Law Solved Papers - Questions with Complete Solutions The Director - Correct Answers ✅Appointed by the Governor Cease and Desist Order - Correct Answers ✅Notice of hearing must be held 20-30 days Violating a Cease and Desist order - Correct Answers ✅Fine of $100 a day up to $5,000.License may also be revoked.Report and Hearing - Correct Answers ✅Examinee must be given 10 days to request a hearing Director must give 10 days notice within 90 days after the report of the hearing is filed.Producer without a license - Correct Answers ✅Class A Misdemeanor Misappropriation of collected funds - Correct Answers ✅Class 4 Felony Temporary Producer License (death or disability) - Correct
Answers ✅Director issues a temp license to: Spouse,
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Property And Casualty Illinois Law Solved Papers - Questions with Complete Solutions Temporary License - Correct Answers ✅180 days and can be extended and extra 180 days by the Director.Requirements to obtain a producer's license - Correct Answers ✅18 years old Has not committed any act that may get denied Complete a prelicensing course.File a bond for $2,500 or 5% of the premiums brokered in the past year up to $50,000.Pass a written exam within both sections have to be passed 90 days of each other.License Fees - Correct Answers ✅Insurance Producer $180 paid every 2 years ($250 non residents) Temporary Producer $50 Business Entity $150 paid every 2 years Limited Line Producer $50 annually Processing Fee for an Insurance Producer app $50 Prelicensing Requirements - Correct Answers ✅20 credit hours of prelicensing education including 7.5 hours in a class room.
12.5 Credit Hours
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