100+ Free Oregon Surplus Lines Practice Questions
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Key Facts: Oregon Surplus Lines Exam
65-75%
First-Time Pass Rate
Industry Data
70%
Passing Score
PSI
50
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.
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
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
Oregon Surplus Lines Law
Oregon DFR regulations, licensing requirements, P&C prerequisite, disclosure obligations, broker duties, and penalties
Diligent Search & Eligibility
Diligent search process, declination documentation, eligible insurer financial requirements, export lists, exempt commercial purchasers
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
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.