Identify the Characteristic Feature of a Broker Than Differentiates Him/her

question 10

Multiple Choice

Identify the characteristic feature of a broker than differentiates him/her from an agent.

• A)They are compensated by the insured.
• B)They do not represent the insurance company or the buyer.
• C)They legally represent the insurance company.
• D)They act as the insured's legal agent when the business is placed with an insurer.
• E)They work under the agent, who hire and train them and pay them a monthly salary.

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Definitions:

Unobservable Phenomena

Refers to occurrences or aspects that cannot be directly seen or measured, often requiring inference from observable effects.

Speculations

The act of forming theories or conjectures without firm evidence, often involving the anticipation of market trends in various contexts.

Observations

The active acquisition of information from a primary source, using the senses or instruments, which can be used to collect data and make assessments.

Sociohistorical Context

The combination of social and historical circumstances at a particular time that influence the environment or development of individuals and societies.