What is the definition of a fiduciary?
A) A person in a position of trust and confidence who handles the affairs and funds of others
B) An insurance agent who sells policies worth more than $1 million in death benefits
C) An institution that handles trust accounts for the wealthy
D) A person who determines policy rates at an insurance company"
Ans: A) A person in a position of trust and confidence who handles the affairs and funds of others
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Which of the following is true of firms that compete in the global marketplace?
A. They must employ a domestic policy in order to have a competitive edge. B. They must employ a transnational policy in order to have a competitive edge. C. Because differentiation across countries can involve significant duplication and a lack of product standardization, it may reduce costs. D. Because differentiation across countries can involve significant duplication and a lack of product standardization, it may raise costs.
Which of the following types of information is NOT required for a life insurance application?
A) Health history B) Ethnicity C) Occupation D) Hobbies