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C16 Application And Narrative Chapter 7 Intermediaries Questions With 100% Correct Answers $12.49   Add to cart

Exam (elaborations)

C16 Application And Narrative Chapter 7 Intermediaries Questions With 100% Correct Answers

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C16 Application And Narrative Chapter 7 Intermediaries Questions With 100% Correct Answers

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  • October 22, 2024
  • 7
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • different types of agents
  • C16 Application and Narrative
  • C16 Application and Narrative
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professoraxel
C16 Application And Narrative Chapter 7
Intermediaries Questions With 100%
Correct Answers

Insuranceicompaniesiareitypicallyieitheridirectiwritersioribrokerimarket
si-iCorrectiAnswer-
Insuranceicompaniesiareitypicallyieitheridirectiwriters,iwhichiuseinoiint
ermediariesitoidistributeitheiriproductsibutiratherisellidirectlyitoitheipu
blic,ioritheyiareibrokerimarkets,iwhichiuseiintermediariesi(thatiis,ibroke
rs)iinitheitransactionibetweenitheiinsurerianditheiinsured.


differentitypesiofiagentsi-iCorrectiAnswer-
companyiemployed:iworkingiatidgigioniaisalaryibasisiforiex/icallicentrei


independantiagent:iexi:idesjardinsiindependantiagentiofficesi...iinsureri
doesntihaveicontrolioverihiringiatiindepiagentiofficei


captiveiagentioriexclusiveiagenti:iusuallyihasibusinessiwithi1iinsurerihow
ever,iifitheiinsurerideclines,itheyicaniplaceibusinessielsewherei..iexclusiv
eicontractsiprohibitithisi..isimilaritoiindepiagenti


subagenti:ihiredibyitheiagentiex.istaffiworkingiinianiindepidesjardinsiage
ntioffice

, Whyiisiitiimportantiforianiinsureritoiknowiaboutitheiproducer'sicorporat
eistructure?i-iCorrectiAnswer-
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heiinsurerineedsitoiknowiwhetheriaiproduceriitidoesioriisiconsideringidoi
ngibusinessiwithidependsionianotheriinsureriforianyipartiofiitsicapital.


Whyiisiitiimportantiforianiinsureritoiknowitheiskillsiofitheiproducer'sistaf
f?i-iCorrectiAnswer-
Knowingitheiskillsiofitheiproducer'sistafficanibeiespeciallyiimportantiifith
eiinsureriisiconsideringigrantingitheiproducerianyiunderwritingiauthorit
y.


Whyiisiitiimportantiforianiinsureritoiknowiifikeyipeopleileaveitheiproduc
er?i-iCorrectiAnswer-
clientsimayichooseitoihaveitheiribusinessifollowitheiaccountimanageriifi
heiorisheileavesitheiproducer.iThisimeansithatitheiaccountiwouldialsoile
aveitheiproducer'siportfolioioribookiofibusiness.


Aibordereauiisiaicollectioniofi-iCorrectiAnswer-
dataiorganizediintoiaistandardizediformat.isummarizesipremiumioriclai
msiactivityiforianiinsureriorireinsurerioniaccounts,iportfolios,iorireinsura
nceitreaties


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ducer.i(5i-iCorrectiAnswer-
Isitheiproduceriaggressiveiandilookingitoiexpandiitsibusiness?

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