Illinois state life and health insurance exam
The state, the director of insurance - ANS-Who governs insurance
-make reason rules and regulations as necessary to implement the insurance laws
-conduct investigations as needed to determine wether any person has violated any insurance
law or regulations
-conduct examination, investigation, and hearings as necessary to administer the insurance
laws efficiently
-request the attorney general to proceed with court action to enforce the insurance code
-institute such actions or other lawful proceedings as deemed necessary for enforcing the
state's insurance laws and regulations
-when the director is required to consider criminal history; he can also be request recorders from
the department of state police and that policy department is authorized to furnish the information
requested - ANS-Director of Insurance has the power too
-My order cease and desist to company's with out notice
-serve notice of hearing to review the violation
-20 30 day from date of hearing notice
-open hearing, if violated may involve imposition or fines or penalties
-offended who violate cease and desist may be ordered to fine of up too $100 per day of
violation maximum of $5000 - ANS-Insurance director cease and desist
5 year - ANS-The director will conduct examinations of companies not less frequently than every
A person may not sell, solicit, negotiate insurance in Illinois for any class of insurance unless the
person is licensed for that line of without. This person may not be charge a fee or engage in
business if offer advice without a license. Class 4 felony. - ANS-Licensing Regulations
-life
-variable life and variable annuity products
-accident and health
-property
-casualty
-personal lines - ANS-Line of authority
$5,000 - ANS-An insurance agent who violates, aids or abets any voilation of an order issues by
the head of insurance department may have their license revoked with a maximum fine of
Credit hour assigned to a course by the Commissioner after review and approval of course
information.
, 36 credit hours ever 2 years
$215 for the licenses of a resident
$380 for non resident - ANS-Insurance Continuing Education Credit
30 days - ANS-Change of address the to tell the direct or insurance regarding the change of
address
After certifying to the direct that he is acting solely for the an insurance company that has
assumed the same responsibility that a surety would assume under a bond - ANS-When is an
insurance producer exempt from the bond requirement
there was an intent to deceive or if it materially affects acceptance of the risk by the company -
ANS-A misrepresentation or false warranty by an insured will NOT void a the policy unless
An insurer assigns a premium rating to an applicant because of studies that suggest members
of the applicant's race have a shorter-than-average life expectancy. - ANS-An example of unfair
discrimination is best demonstrated by which of the following situations
Offering payment of approved claims within 30 days after affirming liability
Unfair claims practices:
-delaying an investigation or claim payment by requiring a duplicate verification of facts
—failing to acknowledge promptly pertinent communication concerning claims
-compelling policy owners to go to court to recover amount due them by offering them
substantially less than the amount recovered through litigation - ANS-Under Illinois law all of the
following defined as unfair claims practices by insurance companies EXCEPT
-paying a bonus to a policyholder out of the insurance company's surplus is not classified as
rebating
-an agent or broker who is found guilty may not receive any commission for selling a policy
associated with the rebate
-any company or person convicted of rebating violation of I'll be guilty of a class b misdemeanor
-it is illegal for an insured to accept a rebate - ANS-All of the following are correct about rebating
-a company may not require a polygraph test as a condition for paying a claim
-reasonable promptness in settling a claim is defined as a maximum of 15 working days from
the time a communication is reduced from a claimant or insured
-if a claim remains unresolved fore 30 working days from the date it is filled the company must
provide the claim with a reasonable written explanation for the delay
-companies may not i fluency an insured to se a dis willful claim on a lump sum basis -
ANS-Regarding company claims practice all of the following are correct
The state, the director of insurance - ANS-Who governs insurance
-make reason rules and regulations as necessary to implement the insurance laws
-conduct investigations as needed to determine wether any person has violated any insurance
law or regulations
-conduct examination, investigation, and hearings as necessary to administer the insurance
laws efficiently
-request the attorney general to proceed with court action to enforce the insurance code
-institute such actions or other lawful proceedings as deemed necessary for enforcing the
state's insurance laws and regulations
-when the director is required to consider criminal history; he can also be request recorders from
the department of state police and that policy department is authorized to furnish the information
requested - ANS-Director of Insurance has the power too
-My order cease and desist to company's with out notice
-serve notice of hearing to review the violation
-20 30 day from date of hearing notice
-open hearing, if violated may involve imposition or fines or penalties
-offended who violate cease and desist may be ordered to fine of up too $100 per day of
violation maximum of $5000 - ANS-Insurance director cease and desist
5 year - ANS-The director will conduct examinations of companies not less frequently than every
A person may not sell, solicit, negotiate insurance in Illinois for any class of insurance unless the
person is licensed for that line of without. This person may not be charge a fee or engage in
business if offer advice without a license. Class 4 felony. - ANS-Licensing Regulations
-life
-variable life and variable annuity products
-accident and health
-property
-casualty
-personal lines - ANS-Line of authority
$5,000 - ANS-An insurance agent who violates, aids or abets any voilation of an order issues by
the head of insurance department may have their license revoked with a maximum fine of
Credit hour assigned to a course by the Commissioner after review and approval of course
information.
, 36 credit hours ever 2 years
$215 for the licenses of a resident
$380 for non resident - ANS-Insurance Continuing Education Credit
30 days - ANS-Change of address the to tell the direct or insurance regarding the change of
address
After certifying to the direct that he is acting solely for the an insurance company that has
assumed the same responsibility that a surety would assume under a bond - ANS-When is an
insurance producer exempt from the bond requirement
there was an intent to deceive or if it materially affects acceptance of the risk by the company -
ANS-A misrepresentation or false warranty by an insured will NOT void a the policy unless
An insurer assigns a premium rating to an applicant because of studies that suggest members
of the applicant's race have a shorter-than-average life expectancy. - ANS-An example of unfair
discrimination is best demonstrated by which of the following situations
Offering payment of approved claims within 30 days after affirming liability
Unfair claims practices:
-delaying an investigation or claim payment by requiring a duplicate verification of facts
—failing to acknowledge promptly pertinent communication concerning claims
-compelling policy owners to go to court to recover amount due them by offering them
substantially less than the amount recovered through litigation - ANS-Under Illinois law all of the
following defined as unfair claims practices by insurance companies EXCEPT
-paying a bonus to a policyholder out of the insurance company's surplus is not classified as
rebating
-an agent or broker who is found guilty may not receive any commission for selling a policy
associated with the rebate
-any company or person convicted of rebating violation of I'll be guilty of a class b misdemeanor
-it is illegal for an insured to accept a rebate - ANS-All of the following are correct about rebating
-a company may not require a polygraph test as a condition for paying a claim
-reasonable promptness in settling a claim is defined as a maximum of 15 working days from
the time a communication is reduced from a claimant or insured
-if a claim remains unresolved fore 30 working days from the date it is filled the company must
provide the claim with a reasonable written explanation for the delay
-companies may not i fluency an insured to se a dis willful claim on a lump sum basis -
ANS-Regarding company claims practice all of the following are correct
