Free Practice Questions for Oregon Surplus Lines
Exam-style questions and explanations by OpenExamPrep.
Loading practice questions...
Explore More Surplus Lines Broker
Continue into nearby exams from the same family. Each card keeps practice questions, study guides, flashcards, videos, and articles in one place.
More From This Family
Videos and articles for deeper review.
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.
Sample Oregon Surplus Lines Practice Questions
Try these sample questions to review concepts for the Oregon Surplus Lines exam. 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?
2What prerequisite license must an Oregon surplus lines broker hold?
3Which testing vendor administers the Oregon surplus lines broker exam?
4What is the Oregon surplus lines broker exam Series number?
5What is the passing score for the Oregon surplus lines broker exam?
6How many scored questions are on the Oregon surplus lines broker exam?
7What percentage of the Oregon surplus lines exam covers surplus lines markets and practices?
8What is the approximate exam fee for the Oregon surplus lines broker exam?
9Which state department regulates surplus lines insurance in Oregon?
10What is a diligent search in Oregon surplus lines?
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.
Exam sponsor: PSI. The requirements and fees below concern the certification or admission exam, separate from our free practice resources.
Questions
50 questions
Time Limit
1 hour
Passing Score
70%
Reported exam pass rate: 65-75%. first-attempt pass rate This describes exam candidates, not OpenExamPrep users or results from using our resources. Exam sponsor website
Fees, eligibility, and exam policies can change. Confirm them with the exam sponsor before applying or paying.
Official sources
Our practice resources: topics covered
We aim to reflect publicly available exam outlines and topic information in our study resources. Coverage, format, and difficulty may differ from the actual exam, and we cannot guarantee that every detail is accurate or current. Confirm exam requirements, fees, and policies with the official exam sponsor.
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
Preparing for the Oregon Surplus Lines Exam
What You Need to Know
- Passing score: 70%
- Exam length: 50 questions
- Time limit: 1 hour
- Exam / certification fees: $55 Official sources
Using Our Practice Resources
- Work through all 100 available questions
- Review every answer and explanation
- Track weak areas and revisit them
- Use our AI tutor for tough concepts
Oregon Surplus Lines: Suggested Study Strategy
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.