Illinois State Law Property/Casualty Supplement, casualty
insurance LAW, Illinois Casualty Insurance Exam Review,
Statutes and Regulations Casualty Insurance Illinois,
Property & Casualty IL Law, IL Casualty Insurance Practice
Test Questions,
A twenty hour prelicensing course requirement applies to all of the
following lines of authority EXCEPT
A: Motor Vehicle
B: Life and Accident and
Health C: Property
D: Casualty
A. Motor Vehicle
Motor Vehicle is a 12.5 hour prelicensing course requirement
,F, a producer in Illinois for twenty years failed to finish his entire continuing
education requirement by his license renewal date. Which of the following
will likely happen to F's producer license.
A: Nothing, there is an automatic 30 day grace
period. B: The producer license will lapse
automatically.
C: A producer holding a license in Illinois for 20 years or longer automatically
is licensed for the remainder of his or her lifetime without a renewal
requirement.
D: Nothing there is an automatic 12 month grace period since F has been
licensed for such a long time.
B. The producer will lapse automatically
An producer who does not properly renew a producer license within the
renewal period will have their license automatically experience a lapse,
subject to reinstatement regulations
,What action is required of a life insurance company when a death claim is
submitted?
A: The carrier is required to search their records for other possible policies
that may be in force and payable on the same life
B: To pay all valid claims within 5 business days.
C: To notify a claimant in writing with reasons if a claim has not been
resolved within 60 days for the delay.
D: The carrier must double the claim payment if it is erroneously denied
originally.
A: The carrier is required to search their records for other possible policies
that may be in force and payable on the same life
Once a death claim is submitted to a life insurer, they must diligently search
for any other policies that may also exist with that same insurer under the
name of the insured as well as any other name by which the insured may have
been known.
If a man or woman explains the difference of one type of life insurance
compared with another to a person interested in purchasing insurance, this
activity is known as
A:
Negotiation
B: Selling
C:
Procuring
D:
Soliciting
A. Negotiation
, "Negotiate" means to confer directly with or to offer advice directly to a
purchaser or prospective purchaser of a particular policy of insurance
concerning any of the substantive benefits terms or conditions of the policy.
All of the following are general powers of the Director, EXCEPT:
A: conduction an investigation to determine if an insurance law has been
broken. B: create a rule to facilitate carrying out his duty under law.
C: impose a jail sentence on a producer who has been found guilty of a
criminal act relating to insurance.
D: obtain criminal information from the State Police about a licensee.
C: impose a jail sentence on a producer who has been found guilty of a
criminal act relating to insurance.
The director cannot impose a jail sentence but can request that the Attorney
General prosecute those who engage in illegal actions involving the sale of
insurance.
insurance LAW, Illinois Casualty Insurance Exam Review,
Statutes and Regulations Casualty Insurance Illinois,
Property & Casualty IL Law, IL Casualty Insurance Practice
Test Questions,
A twenty hour prelicensing course requirement applies to all of the
following lines of authority EXCEPT
A: Motor Vehicle
B: Life and Accident and
Health C: Property
D: Casualty
A. Motor Vehicle
Motor Vehicle is a 12.5 hour prelicensing course requirement
,F, a producer in Illinois for twenty years failed to finish his entire continuing
education requirement by his license renewal date. Which of the following
will likely happen to F's producer license.
A: Nothing, there is an automatic 30 day grace
period. B: The producer license will lapse
automatically.
C: A producer holding a license in Illinois for 20 years or longer automatically
is licensed for the remainder of his or her lifetime without a renewal
requirement.
D: Nothing there is an automatic 12 month grace period since F has been
licensed for such a long time.
B. The producer will lapse automatically
An producer who does not properly renew a producer license within the
renewal period will have their license automatically experience a lapse,
subject to reinstatement regulations
,What action is required of a life insurance company when a death claim is
submitted?
A: The carrier is required to search their records for other possible policies
that may be in force and payable on the same life
B: To pay all valid claims within 5 business days.
C: To notify a claimant in writing with reasons if a claim has not been
resolved within 60 days for the delay.
D: The carrier must double the claim payment if it is erroneously denied
originally.
A: The carrier is required to search their records for other possible policies
that may be in force and payable on the same life
Once a death claim is submitted to a life insurer, they must diligently search
for any other policies that may also exist with that same insurer under the
name of the insured as well as any other name by which the insured may have
been known.
If a man or woman explains the difference of one type of life insurance
compared with another to a person interested in purchasing insurance, this
activity is known as
A:
Negotiation
B: Selling
C:
Procuring
D:
Soliciting
A. Negotiation
, "Negotiate" means to confer directly with or to offer advice directly to a
purchaser or prospective purchaser of a particular policy of insurance
concerning any of the substantive benefits terms or conditions of the policy.
All of the following are general powers of the Director, EXCEPT:
A: conduction an investigation to determine if an insurance law has been
broken. B: create a rule to facilitate carrying out his duty under law.
C: impose a jail sentence on a producer who has been found guilty of a
criminal act relating to insurance.
D: obtain criminal information from the State Police about a licensee.
C: impose a jail sentence on a producer who has been found guilty of a
criminal act relating to insurance.
The director cannot impose a jail sentence but can request that the Attorney
General prosecute those who engage in illegal actions involving the sale of
insurance.
