According to insurance law, an insurance agent is a person who
A) receives a fee as an independent contractor to investigate and negotiate the settlement of claims arising under insurance contracts
B) solicits, negotiates, procures or effects insurance or annuity contracts on behalf of an insurer
C) is compensated as an independent contractor to procure insurance on behalf of another person, but not on behalf of an insurer or agent
D) receives a fee to advise insurance applicants on the merits and disadvantages of insurance policies"
Ans: B) solicits, negotiates, procures or effects insurance or annuity contracts on behalf of an insurer
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The extent to which something provides economic value greater than its cost is called its
A. accountability. B. validity. C. reliability. D. practicality. E. utility.
Which of the following describes the characteristics of a convertible bond?
A. Bonds mature at specified intervals throughout the life of the total issuance. B. Bonds mature on a specified date in the future. C. Bonds may be exchanged for stock at the discretion of the issuer. D. Bonds may be exchanged for stock at the discretion of the bondholder.
A check is always payable on demand
Indicate whether the statement is true or false
The interpersonal influences affecting the mental processes and the behavior of the consumers are time, place, and environment.
Answer the following statement true (T) or false (F)