Florida Surplus Lines License
(1-20) Exam 2026 Expert
Verifed Ace the Test
Admitted insurer - ANSWER ✔✔Also called an "authorized insurer"
Licensed by the state insurance department do insurance business in
the insured's home state
FL admitted insurers have a Certificate of Authority (COA)
Non-admitted insurer - ANSWER ✔✔Also called an "unauthorized
insurer"
,Not licensed to do business in the insured's home state
Non-admitted insurers can be made eligible to write insurance in FL by
the FL Office of Insurance Regulation (OIR) under the FL Surplus Lines
Law
Unauthorized (non-admitted) insurers that are eligible in FL cannot
_______________ - ANSWER ✔✔Be domiciled in FL
How does the regulatory framework for surplus lines protect both
consumers and states? - ANSWER ✔✔Permit consumers access to
surplus lines insurers without physically leaving their state
Uses specially trained and licensed agents to assist consumers
Establish of a system for collecting taxes
Gives the states control of eligibility standards for non-admitted insurers,
and the types of risks they insure
,Independently procured coverage (IPC) - ANSWER ✔✔Insured
contacts a non-admitted carrier directly (no agent involved) to place their
risk in the surplus lines market.
Insured is responsible for filing the transaction with FSLSO, as well as
filing the taxes, fees, and assessments for the policy.
Domestic insurer - ANSWER ✔✔An insurer who is licensed in the
state in which they are domiciled. Domestic insurers are typically
admitted in their state of domicile.
Foreign insurer - ANSWER ✔✔An insurer whose principal office or
domicile location is in a state that's different from the state in which it's
transacting insurance business.
Alien insurer - ANSWER ✔✔An insurer whose principal office or
domicile location is outside of the United States.
All surplus lines insurers must be licensed in ________________ -
ANSWER ✔✔Their home state or jurisdiction, whether it is in the US
or another country.
Nonadmitted and Reinsurance Reform Act (NRRA) - ANSWER
✔✔Legislation passed on July 21, 2011, as part of the Dodd-Frank Wall
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2026. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
STATEMENT. ALL RIGHTS RESERVED
3
, Street Reform and Consumer Protection Act to create a federally
regulated system.
Agents may place business with alien insurers found on the NAIC's
Quarterly Listing of Alien Insurers, also known as the IID List, regardless
of if they qualify for a state's eligibility requirements.
Establishes uniform minimum capital and surplus eligibility requirements
for foreign insurers.
Grants an insured's home state exclusive authority to regulate and tax
multistate non-admitted insurance policies.
Distressed risk - ANSWER ✔✔A risk characterized by unfavorable
attributes that have made it unacceptable to admitted insurers
Unique risk - ANSWER ✔✔A risk that is too difficult to evaluate
because no policy form meets its unusual needs, no prior loss
experience can be analyzed, and it's not cost-effective to generate a
quote
(1-20) Exam 2026 Expert
Verifed Ace the Test
Admitted insurer - ANSWER ✔✔Also called an "authorized insurer"
Licensed by the state insurance department do insurance business in
the insured's home state
FL admitted insurers have a Certificate of Authority (COA)
Non-admitted insurer - ANSWER ✔✔Also called an "unauthorized
insurer"
,Not licensed to do business in the insured's home state
Non-admitted insurers can be made eligible to write insurance in FL by
the FL Office of Insurance Regulation (OIR) under the FL Surplus Lines
Law
Unauthorized (non-admitted) insurers that are eligible in FL cannot
_______________ - ANSWER ✔✔Be domiciled in FL
How does the regulatory framework for surplus lines protect both
consumers and states? - ANSWER ✔✔Permit consumers access to
surplus lines insurers without physically leaving their state
Uses specially trained and licensed agents to assist consumers
Establish of a system for collecting taxes
Gives the states control of eligibility standards for non-admitted insurers,
and the types of risks they insure
,Independently procured coverage (IPC) - ANSWER ✔✔Insured
contacts a non-admitted carrier directly (no agent involved) to place their
risk in the surplus lines market.
Insured is responsible for filing the transaction with FSLSO, as well as
filing the taxes, fees, and assessments for the policy.
Domestic insurer - ANSWER ✔✔An insurer who is licensed in the
state in which they are domiciled. Domestic insurers are typically
admitted in their state of domicile.
Foreign insurer - ANSWER ✔✔An insurer whose principal office or
domicile location is in a state that's different from the state in which it's
transacting insurance business.
Alien insurer - ANSWER ✔✔An insurer whose principal office or
domicile location is outside of the United States.
All surplus lines insurers must be licensed in ________________ -
ANSWER ✔✔Their home state or jurisdiction, whether it is in the US
or another country.
Nonadmitted and Reinsurance Reform Act (NRRA) - ANSWER
✔✔Legislation passed on July 21, 2011, as part of the Dodd-Frank Wall
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2026. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
STATEMENT. ALL RIGHTS RESERVED
3
, Street Reform and Consumer Protection Act to create a federally
regulated system.
Agents may place business with alien insurers found on the NAIC's
Quarterly Listing of Alien Insurers, also known as the IID List, regardless
of if they qualify for a state's eligibility requirements.
Establishes uniform minimum capital and surplus eligibility requirements
for foreign insurers.
Grants an insured's home state exclusive authority to regulate and tax
multistate non-admitted insurance policies.
Distressed risk - ANSWER ✔✔A risk characterized by unfavorable
attributes that have made it unacceptable to admitted insurers
Unique risk - ANSWER ✔✔A risk that is too difficult to evaluate
because no policy form meets its unusual needs, no prior loss
experience can be analyzed, and it's not cost-effective to generate a
quote
