Following Are the Examples of Illegal Sales Practice EXCEPT

question 343

Multiple Choice

Following are the examples of illegal sales practice EXCEPT:

• A) Twisting occurs when an agent purposefully misguides and individual into canceling one policy and purchasing a new one
• B) Rebating occurs when an agent agree to give an individual the share of the commission as an incentive to buy a policy
• C) Misrepresentation occurs when agent makes false and misleading statements, but they are allowed to guarantee policy dividends
• D) None of these

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Definitions:

Rival in Consumption

A good is termed a rival in consumption if its use or consumption by one individual prevents its use or consumption by another individual.

Excludable

A characteristic of a good or service that allows owners to prevent its use by people who have not paid for it.

Private Markets

Markets in which transactions are conducted directly between parties, often involving assets not publicly traded, such as private equity and real estate.

Lighthouses

Towers equipped with navigational lights and other signaling equipment designed to guide ships and warn them of hazards at sea or along coastlines.