Which of the Following Statements Regarding a Good Insurance Agent

question 30

Multiple Choice

Which of the following statements regarding a good insurance agent is true?

• A) The agent is aggressive while pursuing business from the potential insured.
• B) The agent is recommended by professionals like bankers and attorneys.
• C) The agent charges high commissions for providing insurance coverage.
• D) The agent replies with fancy buzzwords and generic answers to questions.
• E) The agent is the first one to solicit the potential insured's patronage.

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Definitions:

Creditors

Entities or individuals to whom a company owes money, due to the provision of goods, services, or loans.

Technical Services

Specialized services that require technical expertise or skills, often provided in fields such as IT, engineering, or maintenance.

Fair Value

The selling price of an asset or the expense involved in handing over a liability during a regulated deal with participants in the market on the specified valuation date.

Carrying Amount

The book value of an asset or liability on a company's balance sheet, reflecting its original cost adjusted for any depreciation, amortization, or impairment costs.