1
LOMA 291 MODULE 2 STUDY GUIDE / QUESTIONS
AND CORRECT ANSWERS 2025 GRADED A+ LATEST
GUIDE.
Omnichannel distribution - (answers)allows customers to choose how they wish
to engage with insurer, lets companies create personalized interactions with
customers/business partners
Worksite marketing - (answers)distributing voluntary benefits to people at their
place of work
Location-selling systems - (answers)may be in businesses like department stores,
big box stores, grocery stores, funeral homes, Can be staffed by financial
professionals, self-service options
Distribution systems - (answers)used by insurance companies to connect products
or services with customers who might want or need them
Direct distribution system - (answers)customer buys directly from insurer or
through member of insurer's direct sales force
Career agents (captive agent) - (answers)agent under full-time contract with an
insurer to sell primarily that insurance company's products
Multiple-line exclusive agents (MLEAs) - (answers)agent who sells products for
one insurance company, with majority of sales being property-casualty products
, 2
Intermediary distribution system - (answers)insurance company relies on other
individuals and orgs. To sell product to customer
Direct-to-consumer (D2C) sales - (answers)non face-to-face distribution programs,
directed by insurance company, insurance company encourages purchase of its
products by marketing directly to customers, or customer can contact company
agency operations units - (answers)support direct sales force, Make sure strategic
goals/objectives of unit are consistent with insurer's goals
Make policies and procedures for unit operations in compliance with regulatory
requirements
Set performance standards
Home office services, customer service
First-year commission - (answers)designed to generate sales, rates for insurance
policies range from 40-90% of policy's first-year premium
Renewal commission - (answers)rates lower than first-year, 2-5% premiums
received, paid only on policies that stay in force, designed to motivate quality
business
Service fee - (answers)small % of premiums (1-2%) that is payable after renewal
commissions have ceased, insurer pays this, Paid to the agent who is currently
providing service to the customer, even if it's not the agent that sold the policy
LOMA 291 MODULE 2 STUDY GUIDE / QUESTIONS
AND CORRECT ANSWERS 2025 GRADED A+ LATEST
GUIDE.
Omnichannel distribution - (answers)allows customers to choose how they wish
to engage with insurer, lets companies create personalized interactions with
customers/business partners
Worksite marketing - (answers)distributing voluntary benefits to people at their
place of work
Location-selling systems - (answers)may be in businesses like department stores,
big box stores, grocery stores, funeral homes, Can be staffed by financial
professionals, self-service options
Distribution systems - (answers)used by insurance companies to connect products
or services with customers who might want or need them
Direct distribution system - (answers)customer buys directly from insurer or
through member of insurer's direct sales force
Career agents (captive agent) - (answers)agent under full-time contract with an
insurer to sell primarily that insurance company's products
Multiple-line exclusive agents (MLEAs) - (answers)agent who sells products for
one insurance company, with majority of sales being property-casualty products
, 2
Intermediary distribution system - (answers)insurance company relies on other
individuals and orgs. To sell product to customer
Direct-to-consumer (D2C) sales - (answers)non face-to-face distribution programs,
directed by insurance company, insurance company encourages purchase of its
products by marketing directly to customers, or customer can contact company
agency operations units - (answers)support direct sales force, Make sure strategic
goals/objectives of unit are consistent with insurer's goals
Make policies and procedures for unit operations in compliance with regulatory
requirements
Set performance standards
Home office services, customer service
First-year commission - (answers)designed to generate sales, rates for insurance
policies range from 40-90% of policy's first-year premium
Renewal commission - (answers)rates lower than first-year, 2-5% premiums
received, paid only on policies that stay in force, designed to motivate quality
business
Service fee - (answers)small % of premiums (1-2%) that is payable after renewal
commissions have ceased, insurer pays this, Paid to the agent who is currently
providing service to the customer, even if it's not the agent that sold the policy
