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

question 9

Multiple Choice

Which of the following statements about insurance brokers is (are) true?

• A)They legally represent the insurance company
• B)They have the legal power to bind the insurance company and can provide coverage for their insureds immediately
• C)They have the right to approach a variety of insurers when searching for a particular product or coverage
• D)Both a and b are true

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Definitions:

Text Messages

Short, digital communications sent over cell phone networks.

Probability Distribution

A mathematical description of the range of possible outcomes of a random variable, including the frequency or probability of each outcome.

Probability Model

A mathematical representation of a random phenomenon, characterized by its sample space, events within the sample space, and probabilities associated with each event.

Resonance Stabilization

A phenomenon where a molecule can be represented by two or more structures that contribute to its overall stability and properties, enhancing its chemical stability.