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WA Surplus Lines Broker Exam 2025/ 2026 NEWEST
EXAM WITH RATIONALES|| BRAND NEW|||
Where is Certificate and supporting docs sent too? -
ANSWER-WA SL Association- they send to
Commissioner- issue as 'registered'
RE: 284.15 WAC - who has the authority to waive the
financial requirement ($15m) for an unauthorized insurer?
- ANSWER-Commissioner
What are reasons the Commissioner would waive the
financial requirement for an unauthorized insurer? -
ANSWER-If insured can't otherwise procure coverage
Letter to Commissioner must include reasons they are
seeking waiver, last year financial info, # of years co. has
been writing this particular coverage, signed
acknowledgment from buyer.
If an insurers Capitol is less than ____, the Commissioner
cannot waive the financial requirement. - ANSWER-
$4,500,000
True/False- exempt commercial purchasers don't have to
complete a Due Diligence statement - ANSWER-TRUE -
but they still have to file statement
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It is a ________ if stated premium on policy is incorrect -
ANSWER-Gross Misdemeanor
Premium should be inclusive of assessment, membership,
policy, survey, inspection, and service fees.
Amount of fine if your records are not available to the
Commissioner - ANSWER-$500
Per 48.14.060 - last day you can pay annual taxes before
incurring penalty - ANSWER-March 31
RE: 48.14.060 'in addition to penalty, interest will be
applied on amount of unpaid tax - maximum legal rate of
interest permitted commencing ____ days after tax is due.
- ANSWER-61
Percentage of penalty if taxes not paid after 3/31:
A) 10%
B) 5%
C) 15%
D) 25% - ANSWER-B- 5% penalty if taxes are paid after
3/31 (and less than 45 days)
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Percentage of penalty if taxes are not remitted within 45
days of 3/31:
A) 10%
B) 5%
C) 15%
D) 25% - ANSWER-A- 10% penalty if not paid within 45
days of 3/31
Percentage of penalty if taxes are not paid within 60 days
of due date:
A) 10%
B) 5%
C) 15%
D) 20% - ANSWER-D- 20%
RE: 48.15 'Exemptions from Surplus Lines requirements',
which of the following statements are true:
A) Does not apply to Reinsurance
B) Does not apply to Ocean Marine & Foreign Trade
Investments
C) Does not apply to insurance on subjects located,
resident, or to be performed wholly outside of the state
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D) Does not apply to vehicles or aircraft owned and
principally garages outside of State
E) all of the above - ANSWER-All of the above - in addition
to railroads engaged in Intrastate commerce,
Aircraft owned/operated by manufacturers of aircraft
Or against liability (other than work comp & employers
liability) arising out of ownership, maintenance or use of
such aircraft
For any cause of action, arising in this state, unauthorized
insurer must be sued in the:
A) State of Domicile
B) Superior Court of the County in which the cause of
action arose
C) Superior Court of the States Capital
D) Municipal Court of the County in which the action arose
- ANSWER-B
The insurer has ___ days from the date of service to
plead, answer or defend the action. - ANSWER-40 Days
The Surplus Lines Broker remits tax to State Treasurer
through Commissioner. True or False? - ANSWER-True -
2% is credited to general fund
WA Surplus Lines Broker Exam 2025/ 2026 NEWEST
EXAM WITH RATIONALES|| BRAND NEW|||
Where is Certificate and supporting docs sent too? -
ANSWER-WA SL Association- they send to
Commissioner- issue as 'registered'
RE: 284.15 WAC - who has the authority to waive the
financial requirement ($15m) for an unauthorized insurer?
- ANSWER-Commissioner
What are reasons the Commissioner would waive the
financial requirement for an unauthorized insurer? -
ANSWER-If insured can't otherwise procure coverage
Letter to Commissioner must include reasons they are
seeking waiver, last year financial info, # of years co. has
been writing this particular coverage, signed
acknowledgment from buyer.
If an insurers Capitol is less than ____, the Commissioner
cannot waive the financial requirement. - ANSWER-
$4,500,000
True/False- exempt commercial purchasers don't have to
complete a Due Diligence statement - ANSWER-TRUE -
but they still have to file statement
,2|Page
It is a ________ if stated premium on policy is incorrect -
ANSWER-Gross Misdemeanor
Premium should be inclusive of assessment, membership,
policy, survey, inspection, and service fees.
Amount of fine if your records are not available to the
Commissioner - ANSWER-$500
Per 48.14.060 - last day you can pay annual taxes before
incurring penalty - ANSWER-March 31
RE: 48.14.060 'in addition to penalty, interest will be
applied on amount of unpaid tax - maximum legal rate of
interest permitted commencing ____ days after tax is due.
- ANSWER-61
Percentage of penalty if taxes not paid after 3/31:
A) 10%
B) 5%
C) 15%
D) 25% - ANSWER-B- 5% penalty if taxes are paid after
3/31 (and less than 45 days)
,3|Page
Percentage of penalty if taxes are not remitted within 45
days of 3/31:
A) 10%
B) 5%
C) 15%
D) 25% - ANSWER-A- 10% penalty if not paid within 45
days of 3/31
Percentage of penalty if taxes are not paid within 60 days
of due date:
A) 10%
B) 5%
C) 15%
D) 20% - ANSWER-D- 20%
RE: 48.15 'Exemptions from Surplus Lines requirements',
which of the following statements are true:
A) Does not apply to Reinsurance
B) Does not apply to Ocean Marine & Foreign Trade
Investments
C) Does not apply to insurance on subjects located,
resident, or to be performed wholly outside of the state
, 4|Page
D) Does not apply to vehicles or aircraft owned and
principally garages outside of State
E) all of the above - ANSWER-All of the above - in addition
to railroads engaged in Intrastate commerce,
Aircraft owned/operated by manufacturers of aircraft
Or against liability (other than work comp & employers
liability) arising out of ownership, maintenance or use of
such aircraft
For any cause of action, arising in this state, unauthorized
insurer must be sued in the:
A) State of Domicile
B) Superior Court of the County in which the cause of
action arose
C) Superior Court of the States Capital
D) Municipal Court of the County in which the action arose
- ANSWER-B
The insurer has ___ days from the date of service to
plead, answer or defend the action. - ANSWER-40 Days
The Surplus Lines Broker remits tax to State Treasurer
through Commissioner. True or False? - ANSWER-True -
2% is credited to general fund
