When an Agent Buys for the Principal from Himself,even If

question 48

Multiple Choice

When an agent buys for the principal from himself,even if he charges a fair market price,the agent is violating which of the following common law duties?

• A)Duty to communicate information
• B)Duty to account for funds and property
• C)Duty of loyalty
• D)Duty to obey instructions

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Definitions:

Claims Electronically

The submission of insurance claims or healthcare billing information using electronic systems.

Claims Manually

The process of submitting and processing insurance claims by hand or without the aid of automated systems.

Explanation of Benefits (EOB)

A printed description of the benefits provided by the insurer to the beneficiary; provides information to the patient about how an insurance claim from a health provider (such as a physician or hospital) was paid on his or her behalf.

Not Allowed Amount

The portion of a bill or charge that is not covered by insurance and is not the responsibility of the patient or client.