Under the Illinois insurance code, a licensee may be required to pay a penalty of not less than $200 nor more than $10,000 for

A. Attempting to obtain a producer's license at age 19

B. Stating that the insurer is guaranteed by the state of Illinois or the US government

C. Placing business while holding a temporary license

D. Placing business with a non-admitted carrier

A homeowner's policy was cancelled by the Illinois insurance guaranty fund due to insolvency of the insurance company. The unearned premium was $625.00. What is the premium refund due to the insured for unexpired policy period?

A. $0

B. $525

C. $625

D. $1,150

A licensed insurance producer would like to offer insurance consulting to clients for a fee. What MUST the producer submit to the director of insurance to operate as a consultant?

A. Proof of completion of an additional 15 hours of continuing education over and above what is required for a producer

B. Verification that the consulting services do not exceed more than 50% of hours acting as a producer

C. No additional requirements are needed

D. Proof of purchase of an annual professional error and omissions insurance policy

The fee for the insurance of a temporary insurance producer license is:

A. $20

B. $25

C. $40

D. $50