Ask Question
20 February, 07:34

Producer S brokered slightly more than $40,000 in insurance premiums last year. Based on this premium amount, what is the penalty (face) amount of the surety bond S is required to maintain in favor of the people of Illinois?

+1
Answers (1)
  1. 20 February, 09:27
    0
    Producer S brokered slightly more than $40,000 in insurance premium last year, the penalty amount of the surety bond S is required to maintain in favor of the people of Illinois is $2,500.

    Explanation:

    A producer that brokered more than $40,000 in insurance premium in a given year is required to pay a penalty amount of the surety bond of $2,500 in favor of the people of Illinois.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Producer S brokered slightly more than $40,000 in insurance premiums last year. Based on this premium amount, what is the penalty (face) ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers