FLORIDA SURPLUS LINES INSURANCE EXAM 70
QUESTIONS & CORRECT ANSWERS LATEST 2025
Which definition best describes the term foreign insurer in the FL SL market? -
ANSWER-U.S domiciled unauthorized insurer licensed in the insured's home state
and I another U.S. state
What is the purpose of the FL SL Law? - ANSWER-To provide orderly access for
the insuring public of this state to insurers not authorized to transact insurance in
this state, through only qualified licensed SL agents in this state
A FL SL insurer is required to have and maintain surplus as to policyholders of not
less than... - ANSWER-Distressed, unique, high-capacity
Which coverage is not commonly written by surplus lines insurers? - ANSWER-
Automobile Liability
Which of the following conditions must exist before exporting a risk in FL? -
ANSWER-- Risk is not procurable from admitted insurers
- Policy must not be more favorable as to coverage or rate
What is the regulatory focal point of the SL marketplace? - ANSWER-Surplus
Lines Agent
Which example best describes Diligent Effort? - ANSWER-Seeking coverage and
having been rejected by at least 3 authorized insurers
, Which of the following is a possible penalty for aiding and abetting an
unauthorized insurer? - ANSWER-- Liability for all unpaid claims
- Conviction of third-degree felony
- Suspension or revocation of all insurance licenses
According to the FL diligent effort requirement, how many rejections in the
admitted market must be received for a residential property exposure with a
replacement cost of $700k or more before placing a policy in the SL market? -
ANSWER-1
According to 626.916, F.S (Eligibility for export), it is responsibility of the
............... to verify that a diligent effort has been made by requiring a properly
documented statement of diligent effort from the retail or producing agent. -
ANSWER-Surplus Lines Agent
Before insurance can be procured from unauthorized insurers, certain conditions
must be met. Which of the follow is incorrect? - ANSWER-The full amount of
coverage is available from authorized insurers; however, the rates are too high
The term "premium" includes any assessment, or any membership, policy, survey,
inspection, service or similar fee or charge in consideration for an insurance
contract. This includes the policy fee but NOT the Service Office fee. - ANSWER-
True
What types of risks are eligible for export by virtue of being placed by a licensed
and appointed surplus lines agent and an insurer that is eligible? - ANSWER-Wet
marine, transportation, and aviation risks
QUESTIONS & CORRECT ANSWERS LATEST 2025
Which definition best describes the term foreign insurer in the FL SL market? -
ANSWER-U.S domiciled unauthorized insurer licensed in the insured's home state
and I another U.S. state
What is the purpose of the FL SL Law? - ANSWER-To provide orderly access for
the insuring public of this state to insurers not authorized to transact insurance in
this state, through only qualified licensed SL agents in this state
A FL SL insurer is required to have and maintain surplus as to policyholders of not
less than... - ANSWER-Distressed, unique, high-capacity
Which coverage is not commonly written by surplus lines insurers? - ANSWER-
Automobile Liability
Which of the following conditions must exist before exporting a risk in FL? -
ANSWER-- Risk is not procurable from admitted insurers
- Policy must not be more favorable as to coverage or rate
What is the regulatory focal point of the SL marketplace? - ANSWER-Surplus
Lines Agent
Which example best describes Diligent Effort? - ANSWER-Seeking coverage and
having been rejected by at least 3 authorized insurers
, Which of the following is a possible penalty for aiding and abetting an
unauthorized insurer? - ANSWER-- Liability for all unpaid claims
- Conviction of third-degree felony
- Suspension or revocation of all insurance licenses
According to the FL diligent effort requirement, how many rejections in the
admitted market must be received for a residential property exposure with a
replacement cost of $700k or more before placing a policy in the SL market? -
ANSWER-1
According to 626.916, F.S (Eligibility for export), it is responsibility of the
............... to verify that a diligent effort has been made by requiring a properly
documented statement of diligent effort from the retail or producing agent. -
ANSWER-Surplus Lines Agent
Before insurance can be procured from unauthorized insurers, certain conditions
must be met. Which of the follow is incorrect? - ANSWER-The full amount of
coverage is available from authorized insurers; however, the rates are too high
The term "premium" includes any assessment, or any membership, policy, survey,
inspection, service or similar fee or charge in consideration for an insurance
contract. This includes the policy fee but NOT the Service Office fee. - ANSWER-
True
What types of risks are eligible for export by virtue of being placed by a licensed
and appointed surplus lines agent and an insurer that is eligible? - ANSWER-Wet
marine, transportation, and aviation risks
