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WA SURPLUS LINES BROKER ACTUAL EXAM 2026-
2027 COMPLETE QUESTIONS AND VERIFIED
SOLUTIONS LATEST UPDATE THIS YEAR
QUESTION: As specified in RCW 48.15.150, each policy issued to an unauthorized insurer as a
surplus line contract must designate _______ as the person upon whom service of process may
be made.
A. CFO
B. SLB
C. Commissioner
D. Attorney - ANSWER-C - Commissioner
QUESTION: Return premiums or claim payments will not be deemed to have been paid to the
insured or claimant until the payments are actually received by the
A) Insurance Producer
B) Insured/Claimant
C) SLB - ANSWER-B) Insured/Claimant
QUESTION: How many days notice required for cancellation due to non-payment of premium? -
ANSWER-10 days
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QUESTION: How many days notice is required to cancel Surplus Line policy (other than non-
pay)? - ANSWER-20 days
QUESTION: The certification form must be filed within ___ days of the effective date:
A) 30
B) 90
C) 60
D) 20 - ANSWER-C - 60 days
QUESTION: Two key tools within IRIS (Insurance Regulatory Information System)
A) Ratios
B) Inspections
C) Analyst Team System
D) Examinations
E) C, D
F) A, C - ANSWER-IRIS ratios and Analyst Team System
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QUESTION: Max credit/surcharge for Account Premium Modification Plan - ANSWER-25%
Available to risks that develop a 3 year premium of at least $5,000
QUESTION: Agreed amount eliminates the ______ clause - ANSWER-Coinsurance
QUESTION: What organization decides alien insurers have fulfilled criteria and can be included
on the Quarterly Listing of Alien Insurers'?
A) NAIC
B) IRIS
C) IIDPO
D) Lloyd's - ANSWER-C- International Insurers Department Plan of Operation
QUESTION: What information can you find on the Quarterly Listing of Alien Insurers?
A) location of trust account
B) min required balance or trust account
C) market value of trust account
D) if account is funded by letter of credit
E) all of the above - ANSWER-E - along with trustee bank contacts with telephone and fax #
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QUESTION: What AM Best Rating categories are considered Investment Grade for Long-Term
credit?
A) aaa
B) aa
C) a
D) bbb
E) all of the above - ANSWER-E) aaa, aa, a, and bbb are all considered investment grade
QUESTION: What AM Best Rating categories are considered Investment Grade for Short-Term
credit?
A) AMB-1+
B) AMB-1
C) AMB-2
D) AMB-3
E) all of the above - ANSWER-E) all of the above
QUESTION: What AM Best Financial Strength Rating are considered secure?
WA SURPLUS LINES BROKER ACTUAL EXAM 2026-
2027 COMPLETE QUESTIONS AND VERIFIED
SOLUTIONS LATEST UPDATE THIS YEAR
QUESTION: As specified in RCW 48.15.150, each policy issued to an unauthorized insurer as a
surplus line contract must designate _______ as the person upon whom service of process may
be made.
A. CFO
B. SLB
C. Commissioner
D. Attorney - ANSWER-C - Commissioner
QUESTION: Return premiums or claim payments will not be deemed to have been paid to the
insured or claimant until the payments are actually received by the
A) Insurance Producer
B) Insured/Claimant
C) SLB - ANSWER-B) Insured/Claimant
QUESTION: How many days notice required for cancellation due to non-payment of premium? -
ANSWER-10 days
,Page 2 of 43
QUESTION: How many days notice is required to cancel Surplus Line policy (other than non-
pay)? - ANSWER-20 days
QUESTION: The certification form must be filed within ___ days of the effective date:
A) 30
B) 90
C) 60
D) 20 - ANSWER-C - 60 days
QUESTION: Two key tools within IRIS (Insurance Regulatory Information System)
A) Ratios
B) Inspections
C) Analyst Team System
D) Examinations
E) C, D
F) A, C - ANSWER-IRIS ratios and Analyst Team System
,Page 3 of 43
QUESTION: Max credit/surcharge for Account Premium Modification Plan - ANSWER-25%
Available to risks that develop a 3 year premium of at least $5,000
QUESTION: Agreed amount eliminates the ______ clause - ANSWER-Coinsurance
QUESTION: What organization decides alien insurers have fulfilled criteria and can be included
on the Quarterly Listing of Alien Insurers'?
A) NAIC
B) IRIS
C) IIDPO
D) Lloyd's - ANSWER-C- International Insurers Department Plan of Operation
QUESTION: What information can you find on the Quarterly Listing of Alien Insurers?
A) location of trust account
B) min required balance or trust account
C) market value of trust account
D) if account is funded by letter of credit
E) all of the above - ANSWER-E - along with trustee bank contacts with telephone and fax #
, Page 4 of 43
QUESTION: What AM Best Rating categories are considered Investment Grade for Long-Term
credit?
A) aaa
B) aa
C) a
D) bbb
E) all of the above - ANSWER-E) aaa, aa, a, and bbb are all considered investment grade
QUESTION: What AM Best Rating categories are considered Investment Grade for Short-Term
credit?
A) AMB-1+
B) AMB-1
C) AMB-2
D) AMB-3
E) all of the above - ANSWER-E) all of the above
QUESTION: What AM Best Financial Strength Rating are considered secure?
