In Which Account Current, for Individual Policies, the Agent Collects

question 129

Multiple Choice

In which account current, for individual policies, the agent collects the premiums directly from the insureds, subtracts his or her commissions and remits the net premiums due to entity?

• A) Billing basis
• B) Paying commission basis
• C) Item basis
• D) Bushiness costs

Comprehend how verbal agreements can affect legal outcomes when not supported by written contracts.

Identify and differentiate between valid, enforceable, unenforceable, and void agreements under law.

Recognize the significance of part performance and its implications under the Statute of Frauds.

Grasp the concept of guarantee and cosigning responsibilities and their legal enforceability.

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Definitions:

White Nationalism

An ideology that advocates for the racial dominance of white people and seeks to maintain a white national identity, often associated with racial discrimination and xenophobia.

Civil Rights Act

Landmark legislation passed in the United States in 1964, prohibiting discrimination on the basis of race, color, religion, sex, or national origin.

American Values

Core principles that are widely accepted in the United States, including liberty, democracy, equality, individualism, unity, and diversity.

White Racism

Racial prejudice and discrimination originating from individuals who identify as white.