LOMA 291 Module 2 Questions with
Complete Solutions
Which of the following enables personalized sales to customers through multiple, integrated
communication channels?
a. Omnichannel distribution
b. Worksite marketing
c. Location-selling Correct Ans-A. - Omnichannel distribution is the term generally used for
distribution that enables personalized sales to customers through multiple, integrated
communication channels.
Which of the following are examples of products that can be offered as voluntary benefits?
Choose all that apply.
Life insurance
Disability income insurance
Accident insurance
Critical illness insurance
,Long-term care insurance Correct Ans-All of them- All of the above benefits are examples of
voluntary benefits. Some financial professionals engage in worksite marketing to distribute these
benefits.
Submit
The first step in a series of face-to-face meetings with a prospect is for the financial professional
to present the proposal in hopes of completing the sale.
a. True
b. False Correct Ans-B. - One of the first steps in engaging face-to-face with a prospect is for
the financial professional to identify the prospect's financial needs. A competent and ethical
financial professional normally would not present a proposal without first understanding the
prospect's needs.
distribution systems Correct Ans-The method an insurance company uses to connect its
products or services with the potential customers who might want or need them.
Direct distribution system Correct Ans-A distribution system in which the insurance company
owns the distribution system and communicates directly with the customer.
,Intermediary distribution system Correct Ans-A system in which the insurance company relies
on external individuals and organizations to connect with the customer.
direct sales force Correct Ans-Financial professionals directed by an insurer who distribute the
insurer's products.
agent Correct Ans-A company employee or independent contractor who is authorized to act on
behalf of an insurance company in selling insurance products.
agency contract Correct Ans-A written agreement that outlines the agent's role and
responsibilities and the agent's compensation.
Career agent Correct Ans-An agent who is under a full-time contract with an insurer to sell
primarily that insurance company's life, health, and annuity products. Also known as a captive
agent.
Multiple-line exclusive agents (MLEAs) Correct Ans-An agent who sells life insurance,
health insurance, annuities, and property-casualty products for one insurance company, with the
majority of sales being property-casualty products.
, salaried sales representatives Correct Ans-A company employee who is paid a salary for
making insurance sales and providing sales support.
group representatives Correct Ans-Salaried insurance company employees specifically trained
in the techniques of marketing and servicing group products.
direct to consumer (D2C) sales Correct Ans-Non-face-to-face distribution programs directed
by the insurance company.
response rate Correct Ans-The percentage of targeted customers who respond to a direct-to-
consumer sales approach.
Companies use different types of professionals to sell their products. Can you distinguish among
them?
Brian Delange maintains his own office where he sells a variety of products—annuities and life,
health, and p/c insurance—for XYZ Insurance Group. Brian is a
Complete Solutions
Which of the following enables personalized sales to customers through multiple, integrated
communication channels?
a. Omnichannel distribution
b. Worksite marketing
c. Location-selling Correct Ans-A. - Omnichannel distribution is the term generally used for
distribution that enables personalized sales to customers through multiple, integrated
communication channels.
Which of the following are examples of products that can be offered as voluntary benefits?
Choose all that apply.
Life insurance
Disability income insurance
Accident insurance
Critical illness insurance
,Long-term care insurance Correct Ans-All of them- All of the above benefits are examples of
voluntary benefits. Some financial professionals engage in worksite marketing to distribute these
benefits.
Submit
The first step in a series of face-to-face meetings with a prospect is for the financial professional
to present the proposal in hopes of completing the sale.
a. True
b. False Correct Ans-B. - One of the first steps in engaging face-to-face with a prospect is for
the financial professional to identify the prospect's financial needs. A competent and ethical
financial professional normally would not present a proposal without first understanding the
prospect's needs.
distribution systems Correct Ans-The method an insurance company uses to connect its
products or services with the potential customers who might want or need them.
Direct distribution system Correct Ans-A distribution system in which the insurance company
owns the distribution system and communicates directly with the customer.
,Intermediary distribution system Correct Ans-A system in which the insurance company relies
on external individuals and organizations to connect with the customer.
direct sales force Correct Ans-Financial professionals directed by an insurer who distribute the
insurer's products.
agent Correct Ans-A company employee or independent contractor who is authorized to act on
behalf of an insurance company in selling insurance products.
agency contract Correct Ans-A written agreement that outlines the agent's role and
responsibilities and the agent's compensation.
Career agent Correct Ans-An agent who is under a full-time contract with an insurer to sell
primarily that insurance company's life, health, and annuity products. Also known as a captive
agent.
Multiple-line exclusive agents (MLEAs) Correct Ans-An agent who sells life insurance,
health insurance, annuities, and property-casualty products for one insurance company, with the
majority of sales being property-casualty products.
, salaried sales representatives Correct Ans-A company employee who is paid a salary for
making insurance sales and providing sales support.
group representatives Correct Ans-Salaried insurance company employees specifically trained
in the techniques of marketing and servicing group products.
direct to consumer (D2C) sales Correct Ans-Non-face-to-face distribution programs directed
by the insurance company.
response rate Correct Ans-The percentage of targeted customers who respond to a direct-to-
consumer sales approach.
Companies use different types of professionals to sell their products. Can you distinguish among
them?
Brian Delange maintains his own office where he sells a variety of products—annuities and life,
health, and p/c insurance—for XYZ Insurance Group. Brian is a
