Principios Generales de SegurosPregunta 360 de 716
A producer exceeds the powers actually granted by the insurer, but a reasonable applicant believes the producer is acting for the insurer. The producer is exercising:
a.Apparent authority
b.Express authority
c.Fiduciary authority
d.Implied authority
Explicación
Apparent (ostensible) authority arises when an insurer's actions lead a reasonable third party to believe the producer has authority, even if the producer's actual authority does not extend that far; the insurer can be bound by it. Express authority is what is specifically written in the agency contract. Implied authority is what is reasonably necessary to carry out express authority. Fiduciary authority is not a category of agency authority but a description of the duty to handle funds in trust.
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Preguntas relacionadas de este tema
- A statement an applicant makes on an insurance application that is believed true to the best of their knowledge, rather than guaranteed to be literally true, is a:
- The intentional withholding of a known material fact during the application process is called:
- A misrepresentation on an application generally allows an insurer to void the policy only when the misstatement was:
- The powers a producer is specifically granted in the written agency agreement with the insurer are called:
- Persuading a policyowner to drop an existing policy and replace it by using misleading or incomplete comparisons is the unfair trade practice known as:
- Offering a prospective buyer part of the commission or another inducement not specified in the policy in order to make a sale is called:
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Revisado por John Zihao Zhang — California-Licensed Life Insurance Agent (CA Dept. of Insurance License #4396095 — verificar)