Property And Casualty Illinois Practice Exam Questions And Answers Latest Updates 2026/2027

Property And Casualty Illinois Practice Exam Questions And Answers Latest Updates 2026/2027 an agent whose license is revoked or whose application for a license is denied will be ineligible to reapply for any license for how many years? - ANSWER -3 years Controlled business is insurance sold to cover the lives, businesses, properties or risks of all the following except - ANSWER -a friend of the insurance producer applicants for insurance producer licenses must meet all of the following requirements except - ANSWER -be at least 21 years old Which of the following statements about continuing education requirements in illinois is not correct - ANSWER -only continuing education courses offered in a classroom setting are approved for credit all of the following statements about rebating are correct except - ANSWER while it is unlawful for an agent to give a rebate, it is not illegal for an insured or insurance applicant to accept a rebate which of the following persons need to be licensed in order to transact insurance business - ANSWER -a resident individual who sells homeowners insurance to the public Regarding company claims practices, which of the following statements is not correct? - ANSWER -A company may require an insured to submit to a polygraph test as a condition for paying a claim the Illinois guaranty fund was established to protect all of the following except - ANSWER -insurance companies A fire policy that has been in effect for two years may be cancelled for all of the following reasons except - ANSWER -having a space heater in the dwelling mine subsidence insurance covers losses arising from - ANSWER -the collapse of man-made mines Refusing to write property insurance solely on the basis of geographical location is called - ANSWER -redlining a person is eligible for insurance under the Illinois fair plan after how many rejections by insurers? - ANSWER -3 The Illinois Fair plan provides coverage in urban areas as defined by an of the following except - ANSWER -The illinois fair plan association a commercial property policy may be canceled within 10 days of a written notice if, after a fire loss, insured buildings have not been repaired within - ANSWER 60 days Once a personal auto policy has been in effect for 60 days or more, the insurer may cancel for all of the following reasons except - ANSWER -license renewal When a fire and extended coverage policy is canceled or not renewed, an insurer is required to give notice of eligibility for a fair plan f - ANSWER -The property location is in an urban area Which of the following would be considered unfair discrimination in property and casualty rate setting? - ANSWER -Discrimination on the basis of sex regarding fire and EC insurance Which of the following statements concerning the Illinois automobile insurance plan is correct? - ANSWER -Uninsured motorist coverage is available The equipment exclusion in illinois refers to - ANSWER -auto insurance All of the following statements about the defensive driving discount are correct except - ANSWER -a defensive driving course of 10 hours or more must be completed Which of the following statements regarding the workers compensation assigned risk plan in illinois is not correct? - ANSWER -to apply for the plan, an employer must have been rejected by at least one insurer within 60 days Within how many days after receiving written request from a claimant or his attornye must an insurer disclose the insured's auto liability coverage amount - ANSWER -30 days the illinois automobile insurance plan offers all of the following coverages except - ANSWER -underinsured motorist the mandatory liability coverage limits for automobiles in illinois is - ANSWER 25/50/20 How must an insurer treat premiums for a covered auto that is equipped with an anti-theft mechanism - ANSWER -reduce premiums which of the following statements regarding auto insurance premium estimates is correct? - ANSWER -an estmate may be given orally and it will not be binding? the minimum penalty for giving fraudulent residential address on an automobile insurance application is - ANSWER -$1001 The mandatory liability coverage limits affect all registered motor vehicles except - ANSWER –trailers The head of the Illinois Department of Insurance is the - ANSWER -Insurance Director An Insurance Producer who violates a cease and desist order issued by the head of the insurance department may have his license suspended or revoked and be fined a maximum penalty of - ANSWER -$5,000 Which of the following is NOT included in the general powers of the insurance director? - ANSWER -Developing and writing insurance education courses What is the daily fine that may be assessed against a person who disobeys a cease and desist order of the insurance director - ANSWER -$100 The director will conduct examinations of companies not less frequently than every - ANSWER -5 years