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SOFE AFE Exam - Topic 3 Question 64 Discussion

Actual exam question for SOFE's AFE exam
Question #: 64
Topic #: 3
[All AFE Questions]

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.

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Suggested Answer: D

by Jesusita at Oct 17, 2023, 08:47 AM

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Nan
6 months ago
I thought they were just salespeople, not contractors!
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Carmen
6 months ago
True, but it can vary by state regulations.
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Shawnda
6 months ago
Wait, are they really considered contractors? Sounds off.
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Lezlie
7 months ago
I agree, they have the authority to act on behalf of the insurer.
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Susy
7 months ago
That's definitely true, agents represent the company.
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Ayesha
7 months ago
I feel like I've seen similar questions before, and they usually emphasize the authority aspect, which makes me lean towards true.
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Carlota
7 months ago
I’m a bit confused. I thought agents were more like intermediaries rather than contractors. Maybe it’s false?
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Felicitas
7 months ago
I remember a practice question that mentioned agents having express authority, so I feel like this statement is likely true.
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Patrick
8 months ago
I think this is true because agents do represent the insurance company, but I'm not completely sure about the term "contractors."
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Moon
8 months 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.
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Raina
8 months 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.
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Colette
8 months 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.
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Jonelle
8 months ago
This question seems straightforward, I think the key is understanding the definition of "express authority" and how that applies to insurance agents.
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Cory
8 months 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.
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Maybelle
8 months 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.
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Jacki
8 months 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.
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Donette
8 months 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.
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Karina
8 months ago
Hmm, I'm not totally sure about this one. I'll have to think it through carefully.
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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.
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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.
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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.
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Vivan
11 months ago
Yes, B) False is the correct answer. Insurance agents do not act as contractors.
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Carin
11 months ago
I agree with you, B) False. Insurance agents work directly for the insurance company.
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Alona
11 months ago
B) False
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Shizue
11 months ago
A) True
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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.
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Karina
12 months ago
Yeah, I don't think insurance agents act as contractors. B) False is the better option.
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Dean
12 months ago
I agree, B) False seems like the correct choice here.
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Viva
12 months ago
I think you're right, insurance agents are not contractors. I'll go with B) False as well.
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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.
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Luisa
11 months ago
So, the answer is B) False.
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Benedict
12 months ago
Yes, they are employees or agents of the insurance company.
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Caren
12 months ago
I think you're right, insurance agents are not contractors.
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Marguerita
1 year ago
I agree with Clement, insurance agents are authorized to act for the entity they represent, so it must be true.
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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.
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Dacia
1 year ago
B) False
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Roslyn
1 year ago
A) True
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Lelia
1 year ago
B) False
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Shawna
1 year ago
A) True
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Clement
1 year ago
I think it's true because insurance agents do act on behalf of the entity they represent.
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Nada
1 year ago
A) True
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