XCEL Chapter 12: South Carolina Laws and Rules 100% Accurate

An insurance producer is BEST described as someone who A) sells, solicits, or negotiates insurance contracts for compensation on be behalf of a client B) sells, solicits, or negotiates insurance contracts for compensation on behalf of an insurer C) offers to examine any policy (for a fee) for the purpose of giving advice or recommendations D) Investigates insurance claims to determine the extent of the insurer's liability - ANSWER-B) sells, solicits, or negotiates insurance contracts for compensation on behalf of an insurer A producer does NOT have a fiduciary responsibilty to A) applicants B) insureds C) insurers D) the South Carolina Guaranty Association - ANSWER-D) the South Carolina Guaranty Association If a producer has broken a state insurance statute, the Director may issue a cease and desist order. This order demands that the producer A) be incarcerated B) stop engaging in the act C) pay a fine D) have his/her appointment terminated - ANSWER-B) stop engaging in the act