80. Which of the following statements about life insurance marketing system is TRUE?
    1. Brokers sell life insurance products of a single insurer.
    2. Career agents sell life insurance products of many insurers.
    3. Financial institutions are not pennittpd to sell life insurance.
    4. Captive agents who sell primarily property and liability insurance can also sell life insurance
81. Which of the following statements about insurance brokers are TRUE? I. Insurance brokers cannot be licensed as insurance agents because they legally represent the insurer. II. Insurance brokers are important in the area of employee benefits. III. Insurance brokers cannot be licensed to place business with a non admitted insurer. IV. Insurance brokers handle the accounts of large corporate insurance buyers,
82. Which of the following statements about insurance agents are TRUE? I. A life agent has the power to bind the insurer with respect to certain types of coverage. II. A property and casualty agent is merely a soliciting agent who induces customers to apply for insurance. III. An insurance agent has express, implied and apparent authorities to represent the insurer. IV. An insurer is legally responsible for the acts of its agent who has acted within the scope of authorities granted by the insurer.
83. Which of the following statements about the legal ownership and structure of private insurers are TRUE? I. A mutual insurer is a corporation owned by insurance agents and brokers. II. A stock insurer is a corporation owned by stockholders, III. A captive insurer is a corporation owned by a parent firm for the purposes of insuring the parent firm's loss exposures. IV. A reciprocal exchange is an unincorporated insurer.