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LOMA 291 Module 2 Lesson 1 Exam Questions and Answers
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LOMA 291 Module 2 Lesson 1 Exam Questions and Answers
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LOMA 291 Module 2 Lesson 1 Exam Questions and Answersomnichannel distribution - Answer -A form of distribution that enables personalized sales to customers through multiple, integrated communication channels.
location-selling system - Answer -A method for distributing insurance products that is designed to generate customer-initiated sales at an office or information kiosk in a store,
shopping mall, or other non-insurance business establishment.
career agent - Answer -sells primarily life products for one company
multiple-line exclusive agent - Answer -sells life and p & c for one company
D2C (Direct to Consumer) - Answer -not face to face
agency operations unit - Answer -The unit in an insurance company that supports and services the insurer's direct sales force.
advanced underwriting - Answer -A group of specialists who will assist in preparing proposals, and will accompany the agent, if requested, to sales presentations on how to
use insurance products in a financial plan or in estate planning.
trail commission - Answer -A percentage of an annuity's accumulated value paid periodically, usually annually, to the financial professional that sold the annuity.
wholesaler - Answer -A person whose job it is to promote the insurer's products to intermediaries and provide them with marketing support.
independent distribution network - Answer -An organization that provides services to financial professionals and also submits business generated by the financial professionals to insurance companies. Also known as a brokerage general agent (BGA)
or independent marketing organization (IMO).
platform employee - Answer -A bank employee whose primary function is to handle customer service issues and sell traditional bank products such as checking and savings accounts, but who is also licensed to sell insurance. More basic.
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