Illinois Insurance State Practice Exam

What is the cost of a Resident Producer License?

1. $100.00

2. $150.00

3. $215.00

4. $250.00

The correct answer is: $215.00

The cost of a Resident Producer License in Illinois is indeed $215. This fee is set by the Illinois Department of Insurance and reflects the expenses associated with the licensing process, including the administration of examinations, background checks, and the maintenance of records. The price can also be seen in the context of how licensing fees are structured in various states, which often vary based on factors like the type of insurance the producer is endorsing or the region within the state. Being knowledgeable about these fees is crucial for aspiring producers, as it helps them budget for their licensing process. While other amounts may reflect the costs for different types of licenses or other states, the specific fee for a Resident Producer License in Illinois is clearly established as $215.