Surplus lines - Study guides, Class notes & Summaries
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WA Surplus Lines Broker Exam Questions And Answers Graded A+
- Exam (elaborations) • 16 pages • 2023
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WA Surplus Lines Broker Exam Questions And Answers Graded A+ 
 
When are you required to file premium tax return for the previous calendar year by? 
March 1st 
What does statutory accounting mean? 
Rules state that certain assets are non-admitted (don't count) as you can't pay claims with them. 
Bonds rated ___________ and higher are considered investment grade. 
1 & 2 
What does IBNR stand for? 
Incurred but not reported 
True or false, individuals whose Surplus Line Brokers license was activ...
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Michigan Surplus Lines Insurance Exam 2023 with 100% correct answers
- Exam (elaborations) • 24 pages • 2023
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(1)Surplus Lines premiums typically expand during: 
A) A soft Market 
B) A Hard Market 
A Hard Market. 
 
Surplus lines premiums typically expand during a hard market. 
 
 
 
(2) During the time of a hard market, insurers will: 
A) Tighten their underwriting standards 
B) Loosen their underwriting standards 
A) Tighten their underwriting standards. 
 
Tighten and raise premiums. 
 
 
 
(3) A Ceding company (Choose all that apply): 
A) Is a primary insurer 
B) Is also a reinsurer 
C) Is always al...
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Florida Surplus Lines Insurance Training Exam With Complete Answers 2024.
- Exam (elaborations) • 10 pages • 2024
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Foreign Insurer - Answer US domiciled unathorized insurer eligible to operate in a state other than the state in which it is domiciled 
 
The purpose of FL surplus lines law - Answer To provide orderly access for the insuring public of the state to insurers not authorized to transact insurance in the state, through only qualified licensed surplus lines agents 
 
A Fl surplus lines insurer is required to have and maintain surplus as to policy holders of not less than... - Answer $15 Mil ...
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WA Surplus Lines Broker Exam Questions And Answers Graded A+
- Exam (elaborations) • 16 pages • 2023
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WA Surplus Lines Broker Exam Questions And Answers Graded A+ 
 
When are you required to file premium tax return for the previous calendar year by? 
March 1st 
What does statutory accounting mean? 
Rules state that certain assets are non-admitted (don't count) as you can't pay claims with them. 
Bonds rated ___________ and higher are considered investment grade. 
1 & 2 
What does IBNR stand for? 
Incurred but not reported 
True or false, individuals whose Surplus Line Brokers license was activ...
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Michigan Surplus Lines Insurance Exam Prep | 105 Questions with 100% Correct Answers | Verified | Latest Update 2024 | 24 Pages
- Exam (elaborations) • 24 pages • 2023
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- $16.49
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(1)Surplus Lines premiums typically expand during: 
A) A soft Market 
B) A Hard Market - A Hard Market. 
Surplus lines premiums typically expand during a hard market. 
(2) During the time of a hard market, insurers will: 
A) Tighten their underwriting standards 
B) Loosen their underwriting standards - A) Tighten their underwriting standards. 
Tighten and raise premiums. 
(3) A Ceding company (Choose all that apply): 
A) Is a primary insurer 
B) Is also a reinsurer 
C) Is always also a captive c...
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Surplus lines insurance exam 2024
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Surplus Lines - correct answer Insurance for which there is no readily available, from the standard insurance carrier 
 
Admitted Insurers - correct answer 1. Is standard insurance carrier is one that is licensed by the state to sell specific lines of insurance in that state 
2. is regulated by the state's department of insurance and must contribute to the state insurance guaranty fund 
 
state insurance guaranty fund - correct answer an association that protects policyholders by paying for cov...
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Florida 2-20 Agents License Exam Questions and Answers 2023 Graded A
- Exam (elaborations) • 26 pages • 2023
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Florida 2-20 Agents License Exam Questions and Answers 2023 Graded A 
 
The Florida Surplus Service Lines Office (FSLSO) was created to 
oversee the surplus lines industry in the state 
Which of the following is NOT a required qualification for a General Lines Agent: 
Seeking the license only to write controlled business 
The Department of Financial Services performs the following, EXCEPT: 
Pays insurance claims 
Once license, you have how long to obtain an appointment? 
48 months 
Which of the ...
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Louisiana Insurance Exam Prep (Title), Louisiana Title Insurance EXAM (Guaranteed Pass!)
- Exam (elaborations) • 36 pages • 2024
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CONTRACTS - Aleatory Contract correct answers A contract in which the performance of either party's obligation depends on an uncertain event 
 
INSURANCE - Benchmark Rate(s) correct answers The rate set annually by the Commissioner of Insurance by line, relative to which the flexibility bands and statutory rate limitations apply. 
 
INSURANCE - Churning correct answers Can occur when an agent persuades a consumer to borrow against an existing life insurance policy to pay the premium on a new on...
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Washington State Property & Casualty Insurance Exam 100% correct answers
- Exam (elaborations) • 30 pages • 2023
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Washington State Property & Casualty Insurance Exam 100% correct answers Authorized Insurer 
An insurer that has qualified and received a Certificate of Authority from the Department of Insurance to transact insurance in the state. 
 
 
 
Contact adhesion 
the accepter of the contract must "adhere" to the written contract 
 
 
 
inducement 
An action aimed at persuading 
 
 
 
insolvent 
Bankrupt; unable to pay debts. 
 
 
 
Transacting Insurance 
Conducting insurance business, such as solicit...
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CIC Agency Management Exam- All Lessons
- Exam (elaborations) • 9 pages • 2023
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Explain the Organizational Structures available to Agencies - ANSWER-Sales vs. Service Oriented 
Large Agencies vs. Small Agencies 
Publicly Traded vs. Privately Held 
 
Explain the Federal and State Regulations on Agencies - ANSWER-Licensing Regulations by State 
Regulators protect the consumer by making a viable insurance marketplace and monitoring interstate commerce 
 
Five Stages of Agency Growth - ANSWER-1 - Existence - Owner does everything, must be creative to survive 
 
2 - Survival - m...
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