Question $1$:

Property and casualty insurance can be marketed under different marketing systems. Compare the independent agency system with the exclusive agency system with respect to each of the following:

$($a$)$ Number of insurers represented by the agent

$($b$)$ Ownership of policy expirations

Question $2$:

Sarah owns a property and liability insurance agency. She is authorized to represent several insurance companies and she is compensated by commissions. Sarah's agency owns the expiration rights to the business she sells. Sarah is a$($n$)$

A$)$ independent agent.

B$)$ exclusive agent.

C$)$ direct writer.

D$)$ insurance broker.

Question $3$:

Advantages of the direct response system for marketing life insurance include which of the following?

I. Advertising can be specifically directed to selected markets.

II$.$ Complex products can be easily sold.

Question $4$:

Cathy just started a job with XYZ Manufacturing Company. She attended an orientation and was given a packet providing information about the various employee benefits XYZ offers. One item in the packet was a booklet and application form from an auto insurer. The insurer offers lower premiums to XYZ employees. What is the insurer's plan for selling individually underwritten auto insurance to employees of XYZ Manufacturing Company called?