Question
Fronting is allowing another person to solicit business and submit it to an insurer under another agent's name who has not seen or does not
Fronting is allowing another person to solicit business and submit it to an insurer under another agent's name who has not seen or does not know the client at all. Listed below are situations and consequences that could result from fronting: 1) An agent holds a license but chooses to have another agent who did not actually complete the transaction sign as the agent of record. 2) An unlicensed person arranges the business and has a licensed person sign on their behalf. 3) Two agents split commissions on a case. 4) An agent pays commissions to an unlicensed person. 5) Agents participating in fronting need to be careful to document the practice. 6) Agents may lose their license.
Which of the above statements are correct? Select one: A. 1,2,3&5 b. 2,3,4 & 5 C. They are all correct d. 1,2,4 & 6
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started