You might find this webpage helpful
The BoatUS Foundation provides this study guide to not only help with passing our free online boating safety course, but to provide a knowledge base for anyone wanting to learn about boating.
www.boatus.org
unless the state of Illinois has some peculiar regulations which are in conflict with International regulations.
I guess you are opting for port and starb'd side lights ( or a bicolor) and an allround white light in place of separate masthead and stern lights.
1 metre ( corrupted in the US to 33 inches) is the minimum vertical separation required in the International regulations between the side lights and the masthead light .
If you were fitting a light intended only as an anchor light International regulations require it to be in the "fore part" of the vessel or where it can best be seen.