WA SURPLUS LINES BROKER 2026 QUESTIONS
AND ANSWERS SURE A+
✔✔Unfair trade practices minimum penalty - ✔✔4.5 million
✔✔Unfair trade practices minimum foreign penalty - ✔✔10 million
✔✔Declaration stamp on policy to be received by insured/broker/carrier - ✔✔
✔✔Broker can issue certification when - ✔✔1) premium paid
2) permission insured
3) permission insurer
✔✔Surplus lines premium tax - ✔✔4%
✔✔Multi-state risks - ✔✔% allocation of risk
✔✔Qualifications for Surplus Lines Insurers
Alien vs. Foreign- Non US vs State
____ in trust account for alien insurers - ✔✔5.4 million
, ✔✔Documents evidencing the existence and amount of US trust funds of _______
________ in the amount of $5.4 million - ✔✔alien insurers
✔✔Most states require an _____ insurer to be on the National Association of Insurance
Commissioners Quarterly Licensing of Eligible Insurers - ✔✔alien
✔✔filings of taxes and certificates of nonavailability are NOT allowed in Georgia -
✔✔courtesy filings
✔✔allow a licensed resident surplus lines agent/broker to remit to the state the taxes
and fees collected on a surplus policy places by a non-licensed agent - ✔✔courtesy
filings
✔✔Sharing commissions with whom? cannot - ✔✔rebate
✔✔Prior to the issuance of license or any renewal of the license, the applicant shall file
a bond with the Commissioner or his or her successor in office, for the benefit of any
person injured by the violation of the conditions provided in this paragraph. The bond
shall be executed by the applicant as principal and by a corporate surety authorized to
do business in this state and shall be in the penal sum of $_________, conditioned that
the applicant will comply with the following rules. - ✔✔50,000
✔✔The bond shall not be terminated unless prior to such termination ___ days' written
notice is filed with the Commissioner - ✔✔30
✔✔Revocation or suspension of broker's license
- if the broker fails to file his - ✔✔quarterly affidavit or remit the tax required
✔✔Revocation or suspension of broker's license
- if the broker fails to maintain office in this state or to keep records, or to allow the
commissioner to examine his records as required by law - ✔✔15 days?
✔✔Revocation or suspension of broker's license
- The procedures provided in Article 1 of Chapter 23 of this title for the suspension or
revocation of agents' licenses - ✔✔fair hearing
✔✔Revocation or suspension of broker's license
- no broker whose license has been so revoked shall again be so licensed within ___
years thereafter nor until any penalties or delinquent taxes owing by him have been
paid. - ✔✔2
✔✔Maintenance by broker of records of policies written or renewed
- how many years? - ✔✔
AND ANSWERS SURE A+
✔✔Unfair trade practices minimum penalty - ✔✔4.5 million
✔✔Unfair trade practices minimum foreign penalty - ✔✔10 million
✔✔Declaration stamp on policy to be received by insured/broker/carrier - ✔✔
✔✔Broker can issue certification when - ✔✔1) premium paid
2) permission insured
3) permission insurer
✔✔Surplus lines premium tax - ✔✔4%
✔✔Multi-state risks - ✔✔% allocation of risk
✔✔Qualifications for Surplus Lines Insurers
Alien vs. Foreign- Non US vs State
____ in trust account for alien insurers - ✔✔5.4 million
, ✔✔Documents evidencing the existence and amount of US trust funds of _______
________ in the amount of $5.4 million - ✔✔alien insurers
✔✔Most states require an _____ insurer to be on the National Association of Insurance
Commissioners Quarterly Licensing of Eligible Insurers - ✔✔alien
✔✔filings of taxes and certificates of nonavailability are NOT allowed in Georgia -
✔✔courtesy filings
✔✔allow a licensed resident surplus lines agent/broker to remit to the state the taxes
and fees collected on a surplus policy places by a non-licensed agent - ✔✔courtesy
filings
✔✔Sharing commissions with whom? cannot - ✔✔rebate
✔✔Prior to the issuance of license or any renewal of the license, the applicant shall file
a bond with the Commissioner or his or her successor in office, for the benefit of any
person injured by the violation of the conditions provided in this paragraph. The bond
shall be executed by the applicant as principal and by a corporate surety authorized to
do business in this state and shall be in the penal sum of $_________, conditioned that
the applicant will comply with the following rules. - ✔✔50,000
✔✔The bond shall not be terminated unless prior to such termination ___ days' written
notice is filed with the Commissioner - ✔✔30
✔✔Revocation or suspension of broker's license
- if the broker fails to file his - ✔✔quarterly affidavit or remit the tax required
✔✔Revocation or suspension of broker's license
- if the broker fails to maintain office in this state or to keep records, or to allow the
commissioner to examine his records as required by law - ✔✔15 days?
✔✔Revocation or suspension of broker's license
- The procedures provided in Article 1 of Chapter 23 of this title for the suspension or
revocation of agents' licenses - ✔✔fair hearing
✔✔Revocation or suspension of broker's license
- no broker whose license has been so revoked shall again be so licensed within ___
years thereafter nor until any penalties or delinquent taxes owing by him have been
paid. - ✔✔2
✔✔Maintenance by broker of records of policies written or renewed
- how many years? - ✔✔
