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When a Broker Deals with an Applicant for Insurance, the Broker

question 18

True/False

When a broker deals with an applicant for insurance, the broker is the applicant's agent.


Definitions:

Caveat Emptor

A Latin phrase meaning "let the buyer beware," implying that the buyer assumes the risk for the quality and condition of goods purchased, especially without a warranty.

Legal Concept

A principle or framework of laws that is recognized and enforced by a legal system.

Unauthorized Use

The use of a product, service, or information without permission or in violation of its intended use or laws.

Intellectual Property

Legal rights that result from intellectual activity in the industrial, scientific, literary, and artistic fields, including inventions, literary and artistic works, designs, and symbols, names, and images used in commerce.

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