State RegulationsIL specificDifficulty 1/5
Under the Illinois fee schedule in 215 ILCS 5/500-135, what license fee applies to a nonresident insurance producer for each 2-year period?
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Answer & full 3-part explanation (select an option above, or peek)
Why C is correct
215 ILCS 5/500-135 sets the producer license fee at $380 per 2-year period for nonresidents, compared with $215 for residents. The higher nonresident figure reflects the current fee schedule, which replaced the earlier lower amounts; candidates who memorize outdated figures will budget incorrectly for licensing.
Why the other options are wrong
- A) $215 is the resident producer license fee under 215 ILCS 5/500-135, not the nonresident fee.
- B) $250 is an outdated pre-increase nonresident figure that no longer reflects the current text of 215 ILCS 5/500-135.
- D) $50 is the temporary insurance producer license fee, not the 2-year nonresident license fee.
Memory hook
Residents pay $215, nonresidents $380 — the nonresident premium is big.