WA SURPLUS LINES BROKER EXAM EXAM
REVIEW SOLVED QUESTIONS WITH ACCURATE
ANSWERS
◉ Surplus line agents' actiley transacting business must comply with
which of the following requirements of the FSLSO?.
Answer: Submit policy information within 30 days from the effective
date of coverage
◉ All FL licensed SL agents are subject to....
Answer: Compliance reviews
◉ The surplus lines agent shall pay interest on the amount of an
delinquent fees due at the rate of...% per year, compounded annually,
beginning the day the fees become delinquent.
Answer: 9%
◉ How many days from the effective date of coverage should a copy
of the policy, cover note or other confirmation of coverage be
delivered to the insured?.
Answer: 60 days
, ◉ Any ... who is an officer, employee, stockholder or director of an
incorporated surplus lines insurance agency shall remain personally
and fully liable and accountable for any wrongful acts, misconduct or
violations of any provisions of the SL Laws committed by such
licensee or by any person under his/her direct supervision and
control while acting on behalf of the corporation..
Answer: Surplus lines agent
◉ Alien insurer.
Answer: an insurer domiciled outside of the US and operating in the
US on a surplus lines basis, who also must meet minimum
capitalization requirements established in each state to receive
placement eligibility from SL licensees
◉ The following is exempt from the surplus lines tax.
Answer: Motor truck cargo, County or municipality or any of their
agencies, State government or its agencies
Commercial inland Marine is NOT
◉ What information is required on the first page of the evidence of
insurance delivered to the insured.
Answer: Name, address, and id number of the surplus lines agent as
well as the name and address of the producing agent
REVIEW SOLVED QUESTIONS WITH ACCURATE
ANSWERS
◉ Surplus line agents' actiley transacting business must comply with
which of the following requirements of the FSLSO?.
Answer: Submit policy information within 30 days from the effective
date of coverage
◉ All FL licensed SL agents are subject to....
Answer: Compliance reviews
◉ The surplus lines agent shall pay interest on the amount of an
delinquent fees due at the rate of...% per year, compounded annually,
beginning the day the fees become delinquent.
Answer: 9%
◉ How many days from the effective date of coverage should a copy
of the policy, cover note or other confirmation of coverage be
delivered to the insured?.
Answer: 60 days
, ◉ Any ... who is an officer, employee, stockholder or director of an
incorporated surplus lines insurance agency shall remain personally
and fully liable and accountable for any wrongful acts, misconduct or
violations of any provisions of the SL Laws committed by such
licensee or by any person under his/her direct supervision and
control while acting on behalf of the corporation..
Answer: Surplus lines agent
◉ Alien insurer.
Answer: an insurer domiciled outside of the US and operating in the
US on a surplus lines basis, who also must meet minimum
capitalization requirements established in each state to receive
placement eligibility from SL licensees
◉ The following is exempt from the surplus lines tax.
Answer: Motor truck cargo, County or municipality or any of their
agencies, State government or its agencies
Commercial inland Marine is NOT
◉ What information is required on the first page of the evidence of
insurance delivered to the insured.
Answer: Name, address, and id number of the surplus lines agent as
well as the name and address of the producing agent
