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Author Question: Peggy is an independent insurance agent who places substantial amounts of business with XYZ ... (Read 62 times)

LaDunn

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on: Jul 11, 2018
Peggy is an independent insurance agent who places substantial amounts of business with XYZ Insurance Company. XYZ pays Peggy a bonus when she meets a sales goal. XYZ also allows Peggy to recruit and train sub-agents.
 
  She receives additional commissions based on the sales generated by the sub-agents. Based on this description, we can conclude that Peggy is a
  A) direct writer.
  B) personal producing general agent.
  C) multiple line exclusive agent.
  D) broker.

Question 2

Reciprocal exchange is managed by a corporation that is authorized to collect premiums, pay losses, invest funds, seek new members, and perform other functions. This corporate manager is called a(n)
 
 A) holding company.
 B) attorney-in-fact.
 C) resident agent.
 D) captive manager.



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srodz

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Reply #1 on: Jul 11, 2018
Answer to Question 1

Answer: B

Answer to Question 2

Answer: B


LaDunn

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Reply 2 on: Jul 11, 2018
Great answer, keep it coming :)

ttt030911

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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