P&CIllinoismedium
Under 215 ILCS 5/500-110, the IDOI Director's authority to examine producers includes which of the following?
AApproving the producer's individual sales commissions
BSetting the producer's office hours
CSelecting which insurers the producer represents
Inspecting the producer's books, records, accounts, and business transactions
Why this is the answer
Section 500-110 authorizes the IDOI Director to examine and investigate any person in the insurance business in Illinois to determine compliance with the Code. This includes inspecting producer books, records, accounts, premium trust accounts, and business transactions. The Director does not approve individual commissions, mandate office hours, or pick a producer's appointments — those are business decisions of the producer and its appointing insurers under 215 ILCS 5/500-50.
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