Illinois Insurance State Practice Exam

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Study for the Illinois Insurance State Exam. Practice with flashcards and multiple choice questions, each with hints and explanations. Ace your test!

Practice this question and more.

What is the fee for reinstating a lapsed license or for late renewals?

$200.00
$430.00
$760.00
$850.00

The correct answer is: $430.00

The fee for reinstating a lapsed license or for late renewals is set at $430. This amount typically reflects the costs associated with processing the reinstatement, including administrative costs and possible penalties for the delay in renewal. It is important for license holders to stay current with their renewals to avoid these additional fees and maintain compliance with licensing regulations. Understanding this fee structure reinforces the importance of timely renewals and the consequences of letting a license lapse.