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All of the following statements are true about insurance agents and agency EXCEPT the principal is never responsible for the acts of its agents. knowledge
All of the following statements are true about insurance agents and agency EXCEPT
| the principal is never responsible for the acts of its agents. | ||
| knowledge of the agent is assumed to be knowledge of the principal. | ||
| there is no presumption of an agency relationship. | ||
| limitations can be placed on the powers of agents. |
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