WA Surplus Lines Broker Exam/WA Surplus Lines
Broker Exam 2025, Washington insurance exam,
surplus lines licensing, broker compliance WA,
Under writing and placement, WA broker test,
verified answers
Is the term 'unusual value' Unusual values are BAD.
on a financial ratio report
good, bad, or not
important?
Where can you find the On the Underwriting & Investment Exhibit page (8)
amount of Direct
Premiums Written,
Reinsurance Assumed -
Affiliates, & Reinsurance
Assumed - Non-Affiliates?
Where can you find the The Liabilities, Surplus, and Other Funds page (3)
amount of Policyholders
Surplus?
,If request to renew A) first 30 days surcharge is 50%
surplus line brokers B) next 30 days surcharge is 100%
license and payment of C) after 60 days/before 12 months surcharge is 200%
the fee are not received
by the Commissioner prior
to the expiration date, the
applicant must pay (in
addition to the renewal
fee) a surcharge as
follows:
A) for the first 30 days,
surcharge is ___% of the
renewal fee
B) for the next 30 days,
surcharge is % of the
renewal fee
C) if request for renewal
and payment not received
after 60 days, but prior to
12 months after expiration
date, the application must
be for reinstatement and
surcharge is _ % of the
license fee
True/False; the Several FALSE- the Several Assets Funds are only used for
Assets Fund is used for specified accounts only attributed to Members
several different risks.
True/False; The Mutual True - Mutual Assets can be applied towards any
Assets can be applied members insurance liabilities
towards ANY members
insurance liabilities?
Diligent effort must be 60 days
filed within __ days from
Eff Date
,5/22/25, 11:12 PM WA Surplus Lines Broker Exam/WA Surplus Lines Broker Exam 2025, Washington insurance exam, surplus lines licensing, broker …
True/False; a Joint UW True- not considered an authorized insurer
Association established by
legislature is not an
authorized insurer
True/False; "A contract of True - EXCEPT at the instance of the insurer
insurance effectuated by
an unauthorized insurer in
violation of code 48.15
shall be VOIDABLE
RCW 48.15 Unauthorized Class B Felony
Activities-Acts Committed
in this State-Sanctions:
Any person who
knowingly violates is guilty
of a _______
RCW 48.15 Unauthorized Cease & Desist order
Activities-Acts Committed $25,000 (if not paid, Attorney General May bring civil
in this State-Sanctions: action on behalf of the Commissioner to recover the
If Commissioner has cause unpaid penalty)
to believe that a person
has violated the
provisions, he may issue a
_ _________ and/or assess
a civil penalty of not more
than $ _ for EACH
violation.
When are you required to March 1st
file premium tax return for
the previous calendar year
by?
What does statutory Rules state that certain assets are non-admitted (don't
accounting mean? count) as you can't pay claims with them.
… 2/35
, 5/22/25, 11:12 PM WA Surplus Lines Broker Exam/WA Surplus Lines Broker Exam 2025, Washington insurance exam, surplus lines licensing, broker …
Bonds rated _______ and 1&2
higher are considered
investment grade.
What does IBNR stand Incurred but not reported
for?
… 3/35
Broker Exam 2025, Washington insurance exam,
surplus lines licensing, broker compliance WA,
Under writing and placement, WA broker test,
verified answers
Is the term 'unusual value' Unusual values are BAD.
on a financial ratio report
good, bad, or not
important?
Where can you find the On the Underwriting & Investment Exhibit page (8)
amount of Direct
Premiums Written,
Reinsurance Assumed -
Affiliates, & Reinsurance
Assumed - Non-Affiliates?
Where can you find the The Liabilities, Surplus, and Other Funds page (3)
amount of Policyholders
Surplus?
,If request to renew A) first 30 days surcharge is 50%
surplus line brokers B) next 30 days surcharge is 100%
license and payment of C) after 60 days/before 12 months surcharge is 200%
the fee are not received
by the Commissioner prior
to the expiration date, the
applicant must pay (in
addition to the renewal
fee) a surcharge as
follows:
A) for the first 30 days,
surcharge is ___% of the
renewal fee
B) for the next 30 days,
surcharge is % of the
renewal fee
C) if request for renewal
and payment not received
after 60 days, but prior to
12 months after expiration
date, the application must
be for reinstatement and
surcharge is _ % of the
license fee
True/False; the Several FALSE- the Several Assets Funds are only used for
Assets Fund is used for specified accounts only attributed to Members
several different risks.
True/False; The Mutual True - Mutual Assets can be applied towards any
Assets can be applied members insurance liabilities
towards ANY members
insurance liabilities?
Diligent effort must be 60 days
filed within __ days from
Eff Date
,5/22/25, 11:12 PM WA Surplus Lines Broker Exam/WA Surplus Lines Broker Exam 2025, Washington insurance exam, surplus lines licensing, broker …
True/False; a Joint UW True- not considered an authorized insurer
Association established by
legislature is not an
authorized insurer
True/False; "A contract of True - EXCEPT at the instance of the insurer
insurance effectuated by
an unauthorized insurer in
violation of code 48.15
shall be VOIDABLE
RCW 48.15 Unauthorized Class B Felony
Activities-Acts Committed
in this State-Sanctions:
Any person who
knowingly violates is guilty
of a _______
RCW 48.15 Unauthorized Cease & Desist order
Activities-Acts Committed $25,000 (if not paid, Attorney General May bring civil
in this State-Sanctions: action on behalf of the Commissioner to recover the
If Commissioner has cause unpaid penalty)
to believe that a person
has violated the
provisions, he may issue a
_ _________ and/or assess
a civil penalty of not more
than $ _ for EACH
violation.
When are you required to March 1st
file premium tax return for
the previous calendar year
by?
What does statutory Rules state that certain assets are non-admitted (don't
accounting mean? count) as you can't pay claims with them.
… 2/35
, 5/22/25, 11:12 PM WA Surplus Lines Broker Exam/WA Surplus Lines Broker Exam 2025, Washington insurance exam, surplus lines licensing, broker …
Bonds rated _______ and 1&2
higher are considered
investment grade.
What does IBNR stand Incurred but not reported
for?
… 3/35
