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Life and Health Insurance Producer Exam

Penalties (IL): practice questions

Our Life & Health Insurance bank has 4 questions on this topic. Here are 4 of them with answers; the full mock exam draws from every topic, like the real one.

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Question 1 · Illinois

A person whose Illinois producer license is revoked is ineligible to apply for any license for how long?

  1. 3 years after the revocation
  2. Permanently
  3. 5 years after the revocation, or longer if ordered
  4. 1 year
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A. 3 years after the revocation — 215 ILCS 5/500-70(g).

Question 2 · Illinois

An Illinois producer is convicted of a felony. When must the conviction be reported to the Director?

  1. Only if the felony involved insurance transactions or premium funds
  2. Within 10 days after the arrest
  3. At the next renewal, on the application
  4. Within 30 days after the entry date of the judgment
Show the answer

D. Within 30 days after the entry date of the judgment — 215 ILCS 5/500-95.

Question 3 · Illinois

Under Section 403A, for a Code violation with no other monetary penalty specified, how is the civil forfeiture measured?

  1. Up to $1,000 per violation
  2. Up to $10,000, once per year
  3. Up to $2,000, with each day of violation a separate offense
  4. A fixed $500, doubled for repeats
Show the answer

C. Up to $2,000, with each day of violation a separate offense — 215 ILCS 5/403A(1).

Question 4 · Illinois

After a hearing, what civil penalty may the Illinois Director impose on a producer for each cause for denial, suspension, or revocation?

  1. Up to $5,000 per cause, capped at $50,000
  2. Up to $10,000 per cause, capped at $100,000 total
  3. Up to $2,500 per cause, no cap
  4. Up to $25,000 per cause, no cap
Show the answer

B. Up to $10,000 per cause, capped at $100,000 total — 215 ILCS 5/500-70(d).

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