What is the definition of a fiduciary?

A) A person in a position of trust and confidence who handles the affairs and funds of others.

B) A person who determines policy rates at an insurance company.

C) An institution that handles trust accounts for the wealthy.

D) An insurance agent who sells policies worth more than $1 million in death benefits.

Answer: A

Insurance Company Organization

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A domestic insurer issuing variable contracts must establish one or more
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A beneficiary change can occur
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The pro rata liability clause is designed to protect the principle of
The two major actions required for a policyholder to comply with the Reinstatement Clause are
Life insurance policies will normally pay for losses arising from
Which of the following statements regarding the taxation of Modified Endowment Contracts is FALSE
Ambiguities in an insurance policy are always resolved in favor of the
In an insurance contract, the applicant's "consideration" is the
Agents may be found guilty of defamation if they make a false statement that is intended to?
How many pair of glasses in a 12-month period will a vision expense insurance plan cover?
The voluntary relinquishment of a legal right is called
What documentation grants express authority to an agent?
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All of the following are true regarding rebates EXCEPT
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All of the following are elements of an insurance policy EXCEPT
What would be an expense factor in an insurance program?
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Life income joint and survivor settlement option guarantees
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What is the other term for the cash payment settlement option?
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Which of the following is NOT true regarding the accumulation period of an annuity?
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What documentation grants express authority to an agent?

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