What Is the Difference Between an Insurance Broker and an Insurance

question 61

Multiple Choice

What is the difference between an insurance broker and an insurance agent?

• A) An insurance agent works exclusively for one company, while an insurance broker works for a number of insurance companies.
• B) An agent requires a commission payment after a deal is made, while a broker requires a service charge to be paid before the deal is made.
• C) An agent represents the insured, while a broker represents the company.
• D) An agent is authorized to sell insurance directly, while a broker can only mediate an insurance contract.

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Definitions:

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Psychological states that involve a positive outlook on life and the future, expecting good things to happen and believing that goals and desired outcomes are attainable.

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A pre-existing framework or mindset that influences how a person perceives and responds to new information or experiences.