Study 9 Flashcards
1
Q
A commission paid to an agent that depends on the profit the insurer has realized form the agency’s business. Sometimes called the “profit commission”
A
Contingent commission
2
Q
Doing something wrong Ex) accidently cancelling a contract
A
Error
3
Q
Not doing something that should have been done Ex) not offering extended coverage
A
Omission
4
Q
The ability to provide a full range of insurance protection clients
A
Capacity
