All of the Following Statements About the Independent Agency System

question 1

Multiple Choice

All of the following statements about the independent agency system are true EXCEPT

• A)Agents are often authorized to adjust small claims.
• B)Agents are compensated on the basis of commissions.
• C)The insurer rather than the agent owns the renewal rights to the business.
• D)The agent is an independent business person who represents several insurers.

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Definitions:

Key Behaviors

Fundamental actions or patterns of actions that contribute to the achievement of specific objectives or outcomes.

Stages

Refers to the different phases or steps within a process or development cycle.

Moral Development

Refers to the process through which individuals develop the ability to differentiate right from wrong and to develop attitudes and behaviors that are socially acceptable.

Lawrence Kohlberg

A psychologist best known for his theory of stages of moral development.