State RegulationsIL specificDifficulty 1/5
Under the Illinois fee schedule in 215 ILCS 5/500-135, what is the fee for a temporary insurance producer license?
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Answer & full 3-part explanation (select an option above, or peek)
Why A is correct
215 ILCS 5/500-135 sets the temporary insurance producer license fee at $50. The modest fee reflects the license's limited 180-day bridging purpose; it is far below the 2-year license fees of $215 for residents and $380 for nonresidents.
Why the other options are wrong
- B) $150 is the business entity producer license fee per 2-year period under 215 ILCS 5/500-135.
- C) $215 is the resident individual producer license fee, not the temporary license fee.
- D) $92 is the Illinois insurance licensing examination fee, which includes the state administrative fee — it is not the temporary license fee.
Memory hook
Fifty for the temporary bridge — the full license costs much more.