Author Question: All of the following statements about the independent agency system are true EXCEPT A) Agents are ... (Read 60 times)

natalie2426 · **on:** Jul 11, 2018

All of the following statements about the independent agency system are true EXCEPT

A) Agents are often authorized to adjust small claims.
B) Agents are compensated on the basis of commissions.
C) The insurer rather than the agent owns the renewal rights to the business.
D) The agent is an independent business person who represents several insurers.

Question 2

Which of the following statements about the sale of property and liability insurance through the direct response system is (are) true?

I. Selling expenses are higher because market segmentation tends to be less precise than with other marketing methods.
II. It is the most appropriate system for selling complex products.
A) I only
B) II only
C) both I and II
D) neither I nor II