All of the of the following are true of BRRETA except.
A. Material facts must be disclosed to seller clients.
B. The Broker owes a fiduciary duty to any client or customer.
C. Dual agency requires informed written consent.
D. A non-exclusive agency, without an agreement to the contrary, will expire in 1 year.
Answer: B. The Broker owes a fiduciary duty to any client or customer.
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If a month-to-month periodic tenancy exists, under common law either party must give
one-month notice to terminate the tenancy. Indicate whether the statement is true or false
Which of the following is not a valid reason to reinsure an exposure?
A) To make insured exposures similar in dollar size B) To provide the insured access to Lloyd's of London C) To buy services from the reinsurer D) To allow agents to be more competitive