When binding coverage and delivering the policy, a surplus lines intermediary acting as a broker should be especially careful to

Select one: A. Include a pricing comparison, insurer financial ratings, and a comparison of policy terms and conditions. B. Explain that surplus lines insurers do not participate in state insurance guaranty funds. C. Ensure that the binder is issued correctly and that the policy agrees with the binder in all material respects. D. Prepare a complete and accurate submission including loss history and financial information. Question 7 ID# 5876287 Points: 1 Not flagged Flag Question Question text Generally an owner-operated, small to medium-sized organization, which one of the following types of intermediary develops strong relationships with local retail producers and operate within their state of domicile?

Select one: A. National wholesalers B. Underwriting managers C. Independent wholesale brokers D. Managing general agents Question 8 ID# 5876324 Points: 1 Not flagged Flag Question Question text In which step in the transaction process used by surplus lines intermediaries does the surplus lines intermediary determine whether the expertise and contacts exist to meet a particular customer's needs?

Select one: A. Providing ancillary services during the policy period B. Qualifying the submission C. Preparing the submission D. Submitting the account to the selected insurers Question 9 ID# 5876317 Points: 1 Not flagged Flag Question Question text When compared to a wholesale broker or MGA, one unique function typically performed by a program manager is to

Select one: A. Practice sound management in office operation. B. Market programs to retail agents and sometimes to other wholesalers. C. Ensure that all transactions adhere to applicable statutes and regulations. D. Issue policies on the insurer's behalf. Question 10 ID# 5876312 Points: 1 Not flagged Flag Question Question text Surplus lines intermediaries with expertise in a particular area or with an insurer contract limited to a specific program are called

Select one: A. Managing general agents. B. Program managers. C. Lloyd's brokers. D. Underwriting managers.