Final exam review Flashcards
1
Q
Coercion
A
act of intimidating or threatening someone to participate in an insurance transaction against their will
2
Q
Commingling
A
An agent who combines the insured’s premium payments with personal funds is commingling
3
Q
Twisting
A
an agent’s false written or oral statements made in an attempt to replace an existing policy with another insurance contract
4
Q
Churning
A
when an agent has a policyholder replace one policy for another with the same company for the sole purpose of making more commission
5
Q
Rebating
A
a practice of giving money back to a policyholder in order to incentivize or “induce” a sale
