1|Page
WA SURPLUS LINES BROKER EXAM NEWEST 2025/2026 ACTUAL
EXAM WITH COMPLETE QUESTIONS AND CORRECT DETAILED
ANSWERS (100% VERIFIED ANSWERS) |ALREADY GRADED A+|
||PROFESSOR VERIFIED||
What info can you find under the 'Summary of Significant
Accounting Policies'? - ANSWER-Common stocks of wholly
owned US Subsidiaries, corrections/errors, Discontinued Ops,
Repurchase Agreements, Restricted Assets, Income Taxes, Real
Estate and REINSURANCE info
What info can you find on the General Interrogatories page? -
ANSWER-State Regulating
Date of last financial examination
Name of Investment Manager
Stock/Bond info
'Largest Net Aggregate amount insured on one risk'
What info can you find on the Jurat Page? - ANSWER-NAIC
group code
State of Domicile
Year Incorporated
,2|Page
Name/address/phone/website
Officers/Directors/Trustees
Sworn statement (3 officers)
Notarized
Common changes made by Surplus Line companies to GL form: -
ANSWER-Punitive damage exclusion
Defense inside the limit
Deductible applies to defense costs
Contractual is limited
Limited to designated ops/location
Major differences between SIRs & Deductibles concern: -
ANSWER-Insurer responsibilities in the event of a loss
Collateral requirements
Defense Costs
COI's
Limits erosion
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Definitions of 'claim' can include: - ANSWER-Written demand
Any demand of money or relief
Filing of suit
Lodging complaint with regulatory body
Policy limit is increased (refreshed) if tail coverage is purchased;
True or False? - ANSWER-False- continuation of limit; does not
refresh
What statements are true in regards to a professional liability
policy:
A) Description of professional services listed on Dec Page
B) App becomes apart of the policy
C) Almost always Claims Made
D) Plaintiff usually client
E) all of the above - ANSWER-E - all of the above
Which body of Lloyd's is responsible for promoting Lloyd's market,
determines amount of Capital members must provide to support
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UW's, Branding/Licensing, undertakes financial & Regulatory
reporting for Lloyd's Market? - ANSWER-Corporation of Lloyd's
Which body of Lloyd's must provide Capital, support the
syndicate's underwriters? - ANSWER-Members (members include
some of the Worlds largest insurance groups & companies)
Which body of Lloyd's is responsible for managing the
Syndicate's, employing UW staff, handles syndicate's
infrastructure and operations? - ANSWER-Managing Agents - are
companies set up to manage one or more Syndicate
Which of the following is true in regards to a Lloyd's Syndicate:
A) UW's decide on behalf of its Members which risks a Syndicate
will underwrite and what terms
B) Business is conducted in an UW room (face to face
negotiations)
C) A & B
D) none of the above - ANSWER-C - both are true
WA SURPLUS LINES BROKER EXAM NEWEST 2025/2026 ACTUAL
EXAM WITH COMPLETE QUESTIONS AND CORRECT DETAILED
ANSWERS (100% VERIFIED ANSWERS) |ALREADY GRADED A+|
||PROFESSOR VERIFIED||
What info can you find under the 'Summary of Significant
Accounting Policies'? - ANSWER-Common stocks of wholly
owned US Subsidiaries, corrections/errors, Discontinued Ops,
Repurchase Agreements, Restricted Assets, Income Taxes, Real
Estate and REINSURANCE info
What info can you find on the General Interrogatories page? -
ANSWER-State Regulating
Date of last financial examination
Name of Investment Manager
Stock/Bond info
'Largest Net Aggregate amount insured on one risk'
What info can you find on the Jurat Page? - ANSWER-NAIC
group code
State of Domicile
Year Incorporated
,2|Page
Name/address/phone/website
Officers/Directors/Trustees
Sworn statement (3 officers)
Notarized
Common changes made by Surplus Line companies to GL form: -
ANSWER-Punitive damage exclusion
Defense inside the limit
Deductible applies to defense costs
Contractual is limited
Limited to designated ops/location
Major differences between SIRs & Deductibles concern: -
ANSWER-Insurer responsibilities in the event of a loss
Collateral requirements
Defense Costs
COI's
Limits erosion
,3|Page
Definitions of 'claim' can include: - ANSWER-Written demand
Any demand of money or relief
Filing of suit
Lodging complaint with regulatory body
Policy limit is increased (refreshed) if tail coverage is purchased;
True or False? - ANSWER-False- continuation of limit; does not
refresh
What statements are true in regards to a professional liability
policy:
A) Description of professional services listed on Dec Page
B) App becomes apart of the policy
C) Almost always Claims Made
D) Plaintiff usually client
E) all of the above - ANSWER-E - all of the above
Which body of Lloyd's is responsible for promoting Lloyd's market,
determines amount of Capital members must provide to support
, 4|Page
UW's, Branding/Licensing, undertakes financial & Regulatory
reporting for Lloyd's Market? - ANSWER-Corporation of Lloyd's
Which body of Lloyd's must provide Capital, support the
syndicate's underwriters? - ANSWER-Members (members include
some of the Worlds largest insurance groups & companies)
Which body of Lloyd's is responsible for managing the
Syndicate's, employing UW staff, handles syndicate's
infrastructure and operations? - ANSWER-Managing Agents - are
companies set up to manage one or more Syndicate
Which of the following is true in regards to a Lloyd's Syndicate:
A) UW's decide on behalf of its Members which risks a Syndicate
will underwrite and what terms
B) Business is conducted in an UW room (face to face
negotiations)
C) A & B
D) none of the above - ANSWER-C - both are true
