Which of the Following Statements About Brokers Is (Are)true

question 14

Multiple Choice

Which of the following statements about brokers is (are) true?
I.They legally represent the insured rather than the insurance company.
II.They are prohibited from being licensed as agents.

• A)I only
• B)II only
• C)both I and II
• D)neither I nor II

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Definitions:

Killed

Terminated or ended, often used in the context of canceling projects or stopping activities.

Bundle of Rights

The various rights an individual has with respect to owning property, including the right to use, sell, lease, and enjoy the property.

Life Estates

A legal arrangement where an individual is granted the rights to live in or use a property for the duration of their lifetime, after which the property reverts to another designated party.

Ownership

The legal right or title to possess and use property, goods, or intellectual assets, often associated with certain responsibilities and benefits.