COLORADO SURPLUS LINES TEST EXAM REVIEW QUESTIONS AND ANSWERS, VERIFIED.| latest update 2024/25|

COLORADO SURPLUS LINES TEST EXAM REVIEW QUESTIONS AND ANSWERS, VERIFIED. Not all surplus lines are subject to a diligent search. T/F - -False Each policy renewal is subject to a new diligent search. T/F - -True How often are surplus line producers required to submit an activity report? - -Monthly, Due on 15th Which surplus lines policies are required to contain the nonadmitted disclosure statement? - -All, and some might require additional disclosures if they are claims-made policies, automobile policies that do not provide statutory coverages and policies that are written with insurers that may not be eligible in CO Can producers charge fees? - -Only under specific situations, listed in Regulation 1-2-9. Also contains an exemption for wholesale producers If a risk has a home state of Colorado and exposures are located within the state, how much of the surplus lines premium tax is payable to Colorado? - -100% (Colorado Home State Rules)