Illinois Life Producer State - Designated Exam SIMULATOR Questions And All Correct Answers.
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Course
Illinois Life Insurance
Institution
Illinois Life Insurance
An applicant may not be refused insurance coverage due to - Answer Race
An applicant may be refused insurance coverage due to - Answer 1. Health
2. Age
3. Occupation
The director - Answer Has authority to review policy forms if they will be issued for delivery in Illinois
Whic...
Illinois Life Producer State - Designated
Exam SIMULATOR Questions And All
Correct Answers.
An applicant may not be refused insurance coverage due to - Answer Race
An applicant may be refused insurance coverage due to - Answer 1. Health
2. Age
3. Occupation
The director - Answer Has authority to review policy forms if they will be issued for delivery in Illinois
Which of these actions does not constitute life insurance policy replacement - Answer Convert term
coverage to a whole life policy
List actions that constitute life insurance policy replacement - Answer 1. Cash surrender an existing
policy and purchase a new policy
2. Discontinue premiums on an existing policy and apply the payments to a new policy
3. Take reduced paid-up insurance and purchase a new policy with another insurer
An example of unfair claims practice would be - Answer failing to effectuate prompt, fair, and equitable
settlements of a claim
An example of unfair discrimination would be - Answer offering different terms of coverage for
different policyowners having the same risk classification
A producer is circulating incorrect information about the benefits of a policy. This producer may be found
guilty of - Answer Misrepresentation
, A producer must complete _ hours of ethics per continuing education reporting period - Answer 3
hours
To renew a producer license, a producer must complete 24 hours of continuing education courses every
2 years, with 3 of those hours being on the subject of ethics.
All of these must be included on an insurance producers license except - Answer Appointing insurance
company
All of these must be included on an insurance producers license - Answer 1. Name of producer
2. Producer ID number
3. Date of issue
A hearing must be held before a producer's license can be suspended or revoked. Prior to the hearing,
the Director of Insurance is required to - Answer give written notice to the producer
Which of the following types of insurance may a limited lines producer sell - Answer Industrial life
insurance
Industrial (home service) insurance is a policy priced well below it's counterparts and is sold by
producers who sell it door to door. It is popular among low- to middle income buyers
Which of these accounts are producer license fees deposited into - Answer Insurance producer
administrative Fund
All licensing fees collected by the director are paid into a special fund in the state treasury known as the
Insurance producer administration Fund
Which of these is a requirement for obtaining a nonresident insurance producer license - Answer A
similar license must be held by the producer in his/her state of residence
Every _ year(s), a producer must complete 24 hours of continuing education - Answer 2 years
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