100+ Free Oregon Surplus Lines Practice Questions

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What is excess and surplus (E&S) lines insurance?

Extra coverage on existing policies

Insurance for surplus inventory

Government emergency insurance

Insurance from non-admitted carriers for risks the standard market cannot accommodate

to track

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Free Surplus Lines Insurance Practice Test by State 2026: 2,300+ Questions22 min read

2026 Statistics

Key Facts: Oregon Surplus Lines Exam

65-75%

First-Time Pass Rate

Industry Data

70%

Passing Score

PSI

Exam Questions

PSI

1 hour

Exam Duration

PSI

$55

Exam Fee

PSI

P&C Required

Prerequisite

Oregon DFR

Oregon requires surplus lines brokers to pass the PSI Series 12-05 exam, which uniquely dedicates 80% of content to surplus lines markets and practices. Candidates must hold an active P&C license and demonstrate knowledge of E&S market structure, Oregon's 2% premium tax, and diligent search requirements.

Sample Oregon Surplus Lines Practice Questions

Try these sample questions to test your Oregon Surplus Lines exam readiness. Each question includes a detailed explanation. Start the interactive quiz above for the full 100+ question experience with AI tutoring.

1What is a surplus lines broker in Oregon?

A.An agent who sells standard admitted insurance

B.A licensed intermediary who places coverage with non-admitted insurers when coverage is unavailable in the admitted market

C.A claims adjuster specializing in excess coverage

D.A reinsurance broker

Explanation: A surplus lines broker in Oregon is a specially licensed intermediary authorized to place insurance with non-admitted (surplus lines) insurers when the needed coverage cannot be obtained from admitted carriers. Oregon requires a separate surplus lines license and designates this as Exam Series 12-05.

2What prerequisite license must an Oregon surplus lines broker hold?

A.Life insurance license

B.Health insurance license

C.Active Property & Casualty license

D.No prerequisite required

Explanation: Oregon requires surplus lines brokers to hold an active Property & Casualty (P&C) insurance license as a prerequisite. This ensures brokers have foundational knowledge of insurance principles before placing coverage in the non-admitted market.

3Which testing vendor administers the Oregon surplus lines broker exam?

A.Prometric

B.Pearson VUE

C.PSI

D.Castle Worldwide

Explanation: PSI administers the Oregon surplus lines broker licensing exam (Series 12-05). Candidates must register through PSI to schedule their exam. The exam fee is approximately $55.

4What is the Oregon surplus lines broker exam Series number?

A.Series 10-01

B.Series 11-03

C.Series 12-05

D.Series 15-07

Explanation: The Oregon surplus lines broker exam is designated as Series 12-05. This exam series specifically tests knowledge of surplus lines markets, Oregon surplus lines regulations, diligent search requirements, and compliance obligations.

5What is the passing score for the Oregon surplus lines broker exam?

A.60%

B.65%

C.70%

D.75%

Explanation: The Oregon surplus lines broker exam requires a minimum passing score of 70%. This means a candidate must correctly answer at least 35 of the 50 scored questions to pass.

6How many scored questions are on the Oregon surplus lines broker exam?

A.25

B.40

C.50

D.75

Explanation: The Oregon surplus lines broker exam contains 50 scored questions with a 1-hour time limit. Approximately 80% of the exam focuses on surplus lines markets and practices.

7What percentage of the Oregon surplus lines exam covers surplus lines markets and practices?

A.50%

B.60%

C.80%

D.95%

Explanation: Approximately 80% of the Oregon surplus lines exam focuses on surplus lines markets and practices. This heavy emphasis reflects Oregon's expectation that brokers thoroughly understand E&S market operations, placement procedures, and market participants.

8What is the approximate exam fee for the Oregon surplus lines broker exam?

A.$25

B.$45

C.$55

D.$100

Explanation: The Oregon surplus lines broker exam administered by PSI costs approximately $55. This covers the examination only and does not include licensing application fees or other associated costs.

9Which state department regulates surplus lines insurance in Oregon?

A.Oregon Department of Commerce

B.Oregon Department of Consumer and Business Services, Division of Financial Regulation (DFR)

C.Oregon Secretary of State

D.Oregon Attorney General

Explanation: The Oregon Department of Consumer and Business Services, through its Division of Financial Regulation (DFR), regulates surplus lines insurance. DFR oversees broker licensing, maintains the eligible insurer list, and enforces compliance with Oregon surplus lines laws.

10What is a diligent search in Oregon surplus lines?

A.A background check on the insured

B.A documented effort to obtain coverage from admitted insurers before placing with a non-admitted carrier

C.A search for the cheapest premium

D.An investigation of claims history

Explanation: Oregon requires surplus lines brokers to conduct a diligent search, documenting their good-faith effort to obtain coverage from admitted insurers before placing with a non-admitted carrier. This protects consumers and ensures surplus lines is used only when admitted coverage is unavailable.

About the Oregon Surplus Lines Exam

The Oregon surplus lines broker exam (Series 12-05) heavily emphasizes surplus lines markets and practices, which comprise approximately 80% of the exam. It also covers Oregon DFR regulations, diligent search requirements, non-admitted insurer eligibility, and the state's 2% surplus lines premium tax.

Questions

50 scored questions

Time Limit

1 hour

Passing Score

70%

Exam Fee

$55 (PSI)

Oregon Surplus Lines Exam Content Outline

30%

Surplus Lines Markets

Lloyd's of London, London market, alien insurers, wholesale brokers, MGAs, market cycles, subscription policies — 80% of the OR exam focuses here

25%

Oregon Surplus Lines Law

Oregon DFR regulations, licensing requirements, P&C prerequisite, disclosure obligations, broker duties, and penalties

20%

Diligent Search & Eligibility

Diligent search process, declination documentation, eligible insurer financial requirements, export lists, exempt commercial purchasers

25%

Taxation & Compliance

Oregon 2% premium tax, NRRA home-state taxation, recordkeeping requirements, filing obligations, and multi-state compliance

How to Pass the Oregon Surplus Lines Exam

What You Need to Know

Passing score: 70%
Exam length: 50 questions
Time limit: 1 hour
Exam fee: $55

Keys to Passing

Complete 500+ practice questions
Score 80%+ consistently before scheduling
Focus on highest-weighted sections
Use our AI tutor for tough concepts

Oregon Surplus Lines Study Tips from Top Performers

1Focus heavily on surplus lines markets and practices since 80% of the Oregon exam covers this area

2Master Lloyd's of London structure, syndicates, the London market, and wholesale distribution chains

3Know Oregon's 2% surplus lines premium tax rate — one of the lowest nationally

4Understand the NRRA home-state taxation provisions and how they affect Oregon transactions

5Study Oregon-specific risks including cannabis, timber, earthquake, and wildfire exposures

6Review the diligent search process, eligible insurer requirements, and Oregon DFR compliance obligations

Frequently Asked Questions

What does the Oregon surplus lines broker exam cover?

The Series 12-05 exam covers surplus lines markets and practices (80% of the exam), Oregon DFR regulations, diligent search, insurer eligibility, the 2% premium tax, and NRRA provisions.

Why does the Oregon exam emphasize markets and practices so heavily?

Oregon dedicates approximately 80% of the exam to surplus lines markets and practices, reflecting the state's expectation that brokers deeply understand E&S market structure, Lloyd's, London market, and placement procedures.

What is the Oregon surplus lines exam Series number?

The Oregon surplus lines broker exam is designated as Series 12-05, administered by PSI with 50 scored questions and a 1-hour time limit.

What license do I need before taking the Oregon surplus lines exam?

You must hold an active Oregon Property & Casualty (P&C) insurance license before applying for the surplus lines broker license.

What is the surplus lines premium tax rate in Oregon?

Oregon imposes a 2% premium tax on surplus lines transactions, which is lower than many other states that charge 3-5%. The broker collects this and remits it to the state.

How much does the Oregon surplus lines exam cost?

The exam fee is approximately $55, paid to PSI when scheduling. Additional licensing application fees apply separately through Oregon DFR.