Which of the following statements is (are) true regarding insurance agents and insurance brokers?
I. A property and liability insurance agent has the authority to bind the insurer for certain types of coverage.
II. A licensed broker who is not a licensed agent has the legal authority to bind an insurer.
A) I only
B) II only
C) both I and II
D) neither I nor II
Answer: A
You might also like to view...
Two focal firms might partner together in a project-based, non-equity venture in order to ________
A) pool assets and create a new business B) compete more effectively against an MNE C) pursue long-term strategic goals D) share costs of research and development
Which of the following is a difference between a virtual private network (VPN) and a virtualprivate cloud (VPC)?
A) A VPC uses encrypted connections between the users and its server, while a VPN does not use such secure connections. B) A VPC can be accessed over the Internet, while a VPN cannot be accessed over the Internet. C) A VPC does not facilitate data storage, while a VPN allows the storage of a user's most important data. D) A VPC provides the advantages of cloud storage, but a VPN by itself cannot provide these advantages.