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Free Insurance Regulation Practice Questions

Illinois Life exam — 39 practice questions.

Subtopics: Regulatory authority, Continuing education hours, Ethics education, Ethics course format, CE carryover, License renewal cycle, Lapsed license, Termination reporting, Producer comments on termination, Appointment requirement, Fiduciary duty, Nonresident licensing, Reporting actions, Unfair trade practice - twisting, Rebating, Defamation, Unfair claims practices, Unfair discrimination, Free look - life, Replacement free look, Guaranty association, Guaranty association cap - death benefit, Guaranty association cap - annuity, Guaranty association advertising, License grounds, Commission sharing, Controlled business, Buyer's guide, Director examination, Cease and desist, Insurable interest, Fraud, Temporary license, Fair Credit Reporting Act, Fraud and false statements, Privacy and Do Not Call, USA PATRIOT Act AML, McCarran-Ferguson Act, Telephone Consumer Protection Act

Read the Insurance Regulation study guide

Sample questions & answers

1. Which official is the chief regulator of the Illinois Department of Insurance?

The Director of Insurance

Illinois calls its chief insurance regulator the Director of Insurance, who heads the Department of Insurance and enforces the Insurance Code.

2. How many hours of continuing education must a resident Illinois producer complete during each two-year cycle?

24 hours

Illinois requires resident producers to complete 24 hours of approved continuing education each biennial period.

3. Of the required Illinois continuing education hours, how many must be in approved ethics?

3 hours

Illinois requires 3 of the 24 continuing education hours to be in approved ethics courses.

4. How must an Illinois producer complete the required ethics continuing education?

Through a classroom or live webinar setting

Illinois requires the ethics portion of continuing education to be completed in a classroom or live webinar setting rather than ordinary self-study.

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Practice: Insurance Regulation

Take a randomized, timed-style practice test. Answer choices are shuffled and your results are scored instantly with an explanation for every question.

Practice questions are study aids generated for exam preparation and are not actual exam questions. Content is provided for educational purposes and is not legal advice. Verify current statutes, rules, and exam specifications with the Insurance Department and the exam administrator before relying on it.