Illinois Insurance State Practice Exam

What is the cost of a Resident Limited Lines Car Rental Producer License?

1. $150.00

2. $180.00

3. $200.00

4. $220.00

The correct answer is: $180.00

The cost of a Resident Limited Lines Car Rental Producer License in Illinois is indeed set at $180. This fee is established by the state’s Department of Insurance and is applicable to individuals seeking this specific licensing to engage in limited lines car rental activities. Understanding licensing fees is crucial for insurance professionals, as they directly impact the cost of doing business in the insurance sector. Each type of insurance license comes with its own fee, reflecting the specific regulatory requirements and oversight provided by the state. This particular fee allows producers to operate legally within the state’s framework, emphasizing the importance of compliance with state mandates. The other amounts presented do not reflect the correct fee structure for this particular license as determined by regulatory guidelines. This makes it essential for prospective licensees to be familiar with the specific dollar amount needed, ensuring they are adequately prepared when applying for their credentials.