FL SURPLUS LINES STUDY GUIDE
EXAM QUESTIONS AND ANSWERS | 2026
UPDATE | 100% CORRECT.
Which definition best describes the term of a foreign insurer in the surplus lines market? -
ANS A U.S. domiciled unauthorized insurer not licensed in the insured's home state but
licensed in another US State.
What is the purpose of the Florida Surplus lines law? - ANS 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 insurance surplus lines agents in this state
What four markets make up the structure of lloyd's - ANS Marine, Aviation, motor, non-
marine
What three risks are typically written in the unauthorized market - ANS distressed, unique,
high capacity
which coverage is not commonly written in surplus lines - ANS automotive liability
Although state regulation varies, generally surplus lines agents are responsible for -
ANS Filing affidavits of admitted insurer declinations of the risk, collecting the appropriate
premium tax from the policyholder and remitting it to the state, and maintaining files that
regulators can audit.
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, What state enacted the first comprehensive non-admitted insurance law in the late 1800's -
ANS New York
The McCarran-Ferguson Act of 1945 makes three federal laws applicable to the business of
insurance. Which one is not included. A) Fair labor standards act B)Merchant marine act C)
Federal trade commission act D) National labor relations act - ANS Federal Trade Commission
A state program providing essential property insurance coverage to insureds that have been
unable to obtain insurance from admitted insurers in the market - ANS Joint underwriting
association
The question of whether federal or state government should regulate the business of insurance
will probably never be completely resolved. Which argument does not apply to federal
regulation? - ANS Allows for experimentation with new ideas
Which risk factor is not identified by the NAIC in its property-liability risk-based capital formula?
- ANS Liability Risks
Annual financial statements are required to be on file with Florida and NAIC by what date? -
ANS March 1st
Which example best describes diligent Effort? - ANS Seeking Coverage and having been
rejected by at least three authorized insurers
An accounting principle that derives its name from the accounting rules as set forth by statute
or regulation - ANS Statutory Accounting Principles
To obtain a surplus lines agent's license in most states a person must satisfy which
requirements? - ANS Be a licensed resident agent for property liability insurance coverages
and pass a written examination
@COPYRIGHT ALL RIGHTS RESERVED PAGE 2 OF 11
EXAM QUESTIONS AND ANSWERS | 2026
UPDATE | 100% CORRECT.
Which definition best describes the term of a foreign insurer in the surplus lines market? -
ANS A U.S. domiciled unauthorized insurer not licensed in the insured's home state but
licensed in another US State.
What is the purpose of the Florida Surplus lines law? - ANS 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 insurance surplus lines agents in this state
What four markets make up the structure of lloyd's - ANS Marine, Aviation, motor, non-
marine
What three risks are typically written in the unauthorized market - ANS distressed, unique,
high capacity
which coverage is not commonly written in surplus lines - ANS automotive liability
Although state regulation varies, generally surplus lines agents are responsible for -
ANS Filing affidavits of admitted insurer declinations of the risk, collecting the appropriate
premium tax from the policyholder and remitting it to the state, and maintaining files that
regulators can audit.
@COPYRIGHT ALL RIGHTS RESERVED PAGE 1 OF 11
, What state enacted the first comprehensive non-admitted insurance law in the late 1800's -
ANS New York
The McCarran-Ferguson Act of 1945 makes three federal laws applicable to the business of
insurance. Which one is not included. A) Fair labor standards act B)Merchant marine act C)
Federal trade commission act D) National labor relations act - ANS Federal Trade Commission
A state program providing essential property insurance coverage to insureds that have been
unable to obtain insurance from admitted insurers in the market - ANS Joint underwriting
association
The question of whether federal or state government should regulate the business of insurance
will probably never be completely resolved. Which argument does not apply to federal
regulation? - ANS Allows for experimentation with new ideas
Which risk factor is not identified by the NAIC in its property-liability risk-based capital formula?
- ANS Liability Risks
Annual financial statements are required to be on file with Florida and NAIC by what date? -
ANS March 1st
Which example best describes diligent Effort? - ANS Seeking Coverage and having been
rejected by at least three authorized insurers
An accounting principle that derives its name from the accounting rules as set forth by statute
or regulation - ANS Statutory Accounting Principles
To obtain a surplus lines agent's license in most states a person must satisfy which
requirements? - ANS Be a licensed resident agent for property liability insurance coverages
and pass a written examination
@COPYRIGHT ALL RIGHTS RESERVED PAGE 2 OF 11
