Authority of agent - Study guides, Class notes & Summaries

Champions Real Estate Exam: Law of Agency UPDATED Exam Questions and CORRECT Answers This person hires an agent - Correct Answer- The Principal The agent works on behalf of this person - Correct Answer- the client (principal) This type of agency allows for the greatest range of authority - Correct Answer- Universal This is provided to the agent when there is written documentation that the agency relationship exists. - Correct Answer- Express authority

Which type of insurance protects an agent and even pays claims if a lawsuit is brought against the agent as a result of failing to provide a service to a client? - Errors and Omissions Insurance Which of the following terms is known as the voluntary relinquishment of a given right or privilege? - Waiver This Supreme Court case placed the regulation of insurance within the authority of the federal government by defining insurance as a form of interstate commerce? - United States v. Southeast...

UNITED HEALTHCARE (UHC) – ETHICS AND COMPLIANCE LATEST 2023-2024 EXAM| ACTUAL QUESTIONS AND VERIFIED ANSWERS |A+ GRADE Q: Agent Jacob learns that Emily, the consumer with whom he is meeting, is the authorized legal representative for her father. What must Jacob explain to Emily when completing an Enrollment Application for her father? Answer: Jacob must explain that Emily will sign the Enrollment Application and must be able to provide documentation upon request by the Plan that indic...

FLORIDA LIFE INSURANCE/ ANNUITIES 2-14 STUDY SET EXAM WITH CORRECT ANSWERS Which of the following individuals MUST be licensed as an agent? - CORRECT ANSWER-A person who places insurance on behalf of anyone seeking insurance. Which of the following statements regarding a nonresident insurance agent is CORRECT? - CORRECT ANSWER-The agent must hold a similar license in their state of residence State insurance laws specifically allow the Commissioner(or Director) to issue a temporary...

PRIMERICA LIFE INSURANCE EXAM 2024 |Question and Answer| 100% Correct An insured purchased an insurance policy 5 years ago. Last year, she received a dividend check from the insurance company that was not taxable. This year, she did not receive a check from the insurer. From what type of insurer did the insured purchase the policy? a. mutual b. reciprocal c. nonprofit service organization d. stock *Ans* A. mutual funds not paid out after paying claims and other operating costs are r...

MD Accident, Health & Life Producer Questions and Answers 100% Solved An Alien Insurance company soliciting insurance in this state would accurately be described by which of the following? A. It must possess a Certificate of Authority from the NAIC, and it is organized under the laws of another country B. It must possess a Certificate of Authority from this state, and it is organized under the laws of another country C. It is organized under the laws of this state, and holds a Certificate of...

SAFe SPC 6.0 Final Exam Questions & Answers 2024 Update SAFe SPC 6.0 Final Exam Questions & Answers 2024 Update When should a Lean portfolio be established? When it is necessary to operate in a completely decentralized environment When it is part of training the executives When the lack of alignment between strategy and execution impacts value delivery When there is a minimum of six Agile Release Trains (ARTs) that require coordination Which activity is associated with the r...

ARKANSAS LIFE INSURANCE EXAM QUESTIONS AND ANSWERS J is a producer who has induced an insured through misrepresentation to surrender an existing insurance policy. What is J guilty of? - ANS Twisting What is implied authority defined as? - ANS Authority that is not specifically given to an agent contract, but that an agent can reasonably assume to carry out his/her duties A person who is a nonsmoker, average weight, excellent health would fall into what risk classification? - ANS ...

PRIMERICA LIFE INSURANCE EXAM WITH 100% CORRECT ANSWERS 2025 An insured purchased an insurance policy 5 years ago. Last year, she received a dividend check from the insurance company that was not taxable. This year, she did not receive a check from the insurer. From what type of insurer did the insured purchase the policy? a. mutual b. reciprocal c. nonprofit service organization d. stock - Correct answer-A. mutual funds not paid out after paying claims and other operating costs are re...