MENU
Insurance agents act as contractors in groups who express one or more entity with express authority to act for the entity in dealing with insureds.
Suggested Answer: D
Get Premium AFE Questions
as Interactive Web-Based Practice Test or PDF
Real Exam Format
Detailed Explanations
Instant Access
Get Your Practice Test
41 comments · newest first
NA
Nan
10 months ago
I thought they were just salespeople, not contractors!
CA
Carmen
11 months ago
True, but it can vary by state regulations.
SH
Shawnda
11 months ago
Wait, are they really considered contractors? Sounds off.
LE
Lezlie
11 months ago
I agree, they have the authority to act on behalf of the insurer.
SU
Susy
11 months ago
That's definitely true, agents represent the company.
AY
Ayesha
12 months ago
I feel like I've seen similar questions before, and they usually emphasize the authority aspect, which makes me lean towards true.
CA
Carlota
12 months ago
I’m a bit confused. I thought agents were more like intermediaries rather than contractors. Maybe it’s false?
FE
Felicitas
12 months ago
I remember a practice question that mentioned agents having express authority, so I feel like this statement is likely true.
PA
Patrick
1 year ago
I think this is true because agents do represent the insurance company, but I'm not completely sure about the term "contractors."
MO
Moon
1 year ago
I'm confident this is a true statement. Insurance agents do act as contractors on behalf of the insurance companies they represent, with the authority to interact with policyholders.
RA
Raina
1 year ago
Okay, I've got a strategy for this. I'll break down the statement and analyze each part - the role of insurance agents, the concept of express authority, and how that relates to entities and insureds. That should help me determine if the statement is true or false.
CO
Colette
1 year ago
Hmm, I'm a little unsure about this one. The wording is a bit tricky, I might need to re-read it a few times to make sure I understand what they're asking.
JO
Jonelle
1 year ago
This question seems straightforward, I think the key is understanding the definition of "express authority" and how that applies to insurance agents.
CO
Cory
1 year ago
I'm a bit confused by the wording here. I'm not sure I fully grasp the relationship between insurance agents, entities, and express authority. I'll need to think this through carefully.
MA
Maybelle
1 year ago
Ugh, I'm not sure about this one. The options seem a bit confusing, and I'm not familiar with the traceSBC command. I'll need to do some quick research to figure this out.
JA
Jacki
1 year ago
I'm a bit confused by this question. The wording seems a bit technical, and I'm not super familiar with the PRINCE2 method. I'll have to read through the choices carefully and try to eliminate the ones that don't seem to fit.
DO
Donette
1 year ago
I think we need to calculate the interest earned on the two-day reduction in collection time. The question gives us the daily cash receipts and the money market rate, so we can use that to find the benefit.
KA
Karina
1 year ago
Hmm, I'm not totally sure about this one. I'll have to think it through carefully.
LA
Latrice
1 year ago
I'm feeling like a real insurance expert now. B) False, because insurance agents are the equivalent of a used car salesman - just working for the company, not for themselves.
RU
Rusty
1 year ago
This question is as confusing as trying to understand my car insurance policy. I'll guess B) False, because insurance agents are definitely not contractors.
CA
Cassandra
1 year ago
Wow, this is a tough one. I'm going to have to say B) False, because insurance agents are not contractors - they're working directly for the insurance company.
VI
Vivan
1 year ago
Yes, B) False is the correct answer. Insurance agents do not act as contractors.
CA
Carin
1 year ago
I agree with you, B) False. Insurance agents work directly for the insurance company.
AL
Alona
1 year ago
B) False
SH
Shizue
1 year ago
A) True
DE
Denna
1 year ago
I'm hesitant to choose A) True, because that doesn't sound quite right. I'll go with B) False, since insurance agents aren't acting as independent contractors.
KA
Karina
1 year ago
Yeah, I don't think insurance agents act as contractors. B) False is the better option.
DE
Dean
1 year ago
I agree, B) False seems like the correct choice here.
VI
Viva
1 year ago
I think you're right, insurance agents are not contractors. I'll go with B) False as well.
FE
Felix
1 year ago
Hmm, this question is a bit tricky. I'm going to go with B) False, because insurance agents are not contractors - they are employees or agents of the insurance company.
LU
Luisa
1 year ago
So, the answer is B) False.
BE
Benedict
1 year ago
Yes, they are employees or agents of the insurance company.
CA
Caren
1 year ago
I think you're right, insurance agents are not contractors.
MA
Marguerita
1 year ago
I agree with Clement, insurance agents are authorized to act for the entity they represent, so it must be true.
CH
Chaya
1 year ago
I'm pretty sure the correct answer is B) False. Insurance agents are not contractors, they are representatives of the insurance company.
DA
Dacia
1 year ago
B) False
RO
Roslyn
1 year ago
A) True
LE
Lelia
1 year ago
B) False
SH
Shawna
1 year ago
A) True
CL
Clement
2 years ago
I think it's true because insurance agents do act on behalf of the entity they represent.
NA
Nada
2 years ago
A) True