Examlex

Solved

Which of the Following Statements Is (Are)true Regarding Insurance Agents

question 24

Multiple Choice

Which of the following statements is (are) true regarding insurance agents and insurance brokers?
I.A property and liability insurance agent has the authority to bind the insurer for certain types of coverage.
II.A licensed broker who is not a licensed agent has the legal authority to bind an insurer.


Definitions:

Northeast

A geographical term referring to the northeastern region of a country or continent, often characterized by specific cultural, climatic, or geographical features.

Compensation

Compensation is the total amount of the monetary and non-monetary pay provided to an employee by an employer in return for work performed as required.

Elder Law

A relatively new legal specialty that involves serving the needs of older clients, such as estate planning and long-term care arrangements.

Estate-Planning

The process of organizing and managing an individual's assets for transfer after death, including the creation of wills and trusts.

Related Questions