All of the following statements about the rules governing agency relationships are true EXCEPT
A) An agent must be authorized to act on behalf of a principal.
B) An agency agreement may grant certain powers to the agent as well as denying the agent other powers.
C) The principal is responsible for the acts of agents only if the acts are criminal.
D) Knowledge of the agent is presumed to be knowledge of the principal with respect to matters within the scope of the agency relationship.
Question 2
Which of the following types of insurance policies can usually be assigned without the insurer's consent? I. Life insurance II. Property insurance
A) I only
B) II only
C) both I and II
D) neither I nor II
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