Identify the statement which is not correct. Insurance agent should _________.

A Indicate the scale of commission if asked by the customer
B Share the commission by way of rebate
C Disclose his licence on demand
D Indicate the premium to be charged

Correct Answer: Share the commission by way of rebate

Insurance agent should not share the commission by way of rebate. This practice is illegal and totally against the laws of Insurance Act and SEBI. The agent can even face cancellation of his license if he is found to share his commission.
Bissoy MCQ
#Commerce #Insurance

Related Questions

According to a survey of business firms in a certain city, 750 firms offer their employees health insurance , 640 offer dental insurance and 280 offer health insurance and dental insurance. How many firms offer their employees health insurance or dental
A 920
B 1,100
C 1,110
D 1,030
Which of the following is correct? Statement A. The system of insurance benefits individual, family and the society Statement B. Insurance companies could invest in speculative ventures.
A A is correct
B B is correct
C Both A & B
D None of the above
The need for investment advice from an insurance agent normally results from what overriding key factor?
A Absence of any long-term goals
B Inability to prioritise future financial needs
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A Jibon Bima Corporation
B ALICO
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B Does not offer any insurance products
C Education insurance
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B 2 only
C 3 only
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B উদ্ধারযোগ্য সামগ্রিক ক্ষতি (Constructive Total Loss )
C সাধারণ আংশিক ক্ষতি (General Partial Loss
D বিশেষ আংশিক ক্ষতি (Particular Partial Loss)
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A Controller of Insurance
B Insurance Regulatory commission
C Insurance commission
D Insurance Controlling Authority
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A Acceptance at ordinary
B Acceptance with extra premium
C Decline the proposal
D Acceptance with a restrictive clause
Private Insurance Companies started operating, in the Bangladesh Insurance market form-
A 1984
B 1985
C 1986
D 1987

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