An Agent Who Wishes to Avoid Liability on Contracts He

question 66

Multiple Choice

An agent who wishes to avoid liability on contracts he enters into on behalf of the principal should make sure that the principal is:

• A) undisclosed
• B) partially disclosed
• C) either partially disclosed or fully disclosed
• D) fully disclosed
• E) the degree of disclosure is irrelevant

Understand the basic principles of insurance, including the transfer of risk and the concept of insurable interest.

Recognize legal and regulatory aspects of insurance, including the distinction between state and federal jurisdiction.

Identify the roles and obligations of the insured and insurer within an insurance contract.

Comprehend the types and purposes of various insurance payments, such as premiums and co-payments.

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Definitions:

Depression

A mental health disorder marked by persistent feelings of sadness, emptiness, or hopelessness, often accompanied by a lack of interest or pleasure in activities.

Delusional Thinking

A belief strongly held despite clear evidence against it, often indicative of a psychological disorder.

Flight of Ideas

A rapid, often abrupt shift in thoughts from one idea to another, typically observed in manic states or conditions like bipolar disorder.

Job Application

A formal request for employment, typically consisting of a resume and cover letter, submitted by a candidate.