For situations where no initial premium was paid when the application was taken, when delivering that policy the agent is generally required to do all of the following EXCEPT
A) collect any premium due
B) present the insured with a conditional receipt
C) obtain a statement of good health from the insured
D) explain the policy, its provisions, and any riders, exclusions, or ratings involved"
Ans: B) present the insured with a conditional receipt
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A ________ outlines an organization's official position on issues that affect its success
A) policy report B) position paper C) feasibility report D) business plan E) compliance report
When a competitor cuts its price, a company should ________ if it believes it will not lose much market share or would lose too much profit by cutting its own prices
A) reduce its production costs B) reduce its marketing costs C) maintain its current prices and profit margin D) increase its marketing budget to raise the perceived value of the product E) increase its production costs to improve the quality of the product