State RegulationsIL specificDifficulty 1/5
An applicant satisfies all Illinois requirements for an individual insurance producer license. For what term is the license issued under the Illinois Insurance Code?
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Answer & full 3-part explanation (select an option above, or peek)
Why D is correct
Persons who meet the qualifications of 215 ILCS 5/500-25 and 215 ILCS 5/500-30 are issued a 2-year insurance producer license. Under 215 ILCS 5/500-35, the license remains in effect unless suspended or revoked so long as the required fee under 215 ILCS 5/500-135 is paid and continuing education obligations are met, with renewal tied to the producer's birth month.
Why the other options are wrong
- A) Illinois issues 2-year producer licenses, not 1-year licenses.
- B) The renewal cycle is tied to the birth month, but the license term is 2 years, not 5.
- C) The license is not unconditional; it depends on keeping the 2-year renewal cycle alive by paying fees and meeting continuing education requirements.
Memory hook
Illinois licenses run in 2-year birth-month cycles.