Question

How does building goodwill and brand value benefit an insurance agent?

a.

It increases the agent's commission rates

b.

It reduces the need for renewals

c.

It helps in expanding the business

d.

It makes the agent's clients buy more products

Posted under IC38 Life Insurance Agent Exam

Answer: (c).It helps in expanding the business Explanation:Building goodwill and brand value in the insurance industry benefits an agent by helping to expand the business.

Interact with the Community - Share Your Thoughts

Uncertain About the Answer? Seek Clarification Here.

Understand the Explanation? Include it Here.

Q. How does building goodwill and brand value benefit an insurance agent?
Add Comment

Similar Questions

Explore Relevant Multiple Choice Questions (MCQs)

Q. What is meant by customer lifetime value?

View solution

Q. What is the key element that every relationship begins with?

View solution

Q. Which element of a relationship is about being liked and creating a great first impression?

View solution

Q. Why is customer relationship management important for companies?

View solution

Q. What does the second element of a relationship entail?

View solution

Q. What is the "Customer Journey"?

View solution

Q. What is one of the challenges in the prospecting phase of the sales process?

View solution

Q. Why is setting up a formal appointment important in the sales process?

View solution

Q. What does the process of selling insurance involve?

View solution

Q. What is the primary goal of the Sales Interview in insurance?

View solution

Q. What distinguishes a master salesperson in insurance?

View solution

Q. What is the responsibility of an agent in providing Best Advice to the prospect?

View solution

Q. When should insurance be recommended for a risk?

View solution

Q. What should homeowners in flood-prone areas consider regarding insurance?

View solution

Q. How should agents approach their role in relation to customers?

View solution

Q. What role does handling objections play in the sales process for an insurance agent?

View solution

Q. What is the significance of properly filling out a proposal form for insurance?

View solution

Q. What is the agent's role in helping the customer complete additional formalities for the policy?

View solution

Q. What do IRDAI (Issuance of e-Insurance Policies) Regulations, 2016 provide for?

View solution

Q. What is the purpose of a cover note in insurance?

View solution
View All MCQs on IC38 Life Insurance Agent Exam

Recommended Subjects

Are you eager to expand your knowledge beyond IC38 Life Insurance Agent Exam? We've handpicked a range of related categories that you might find intriguing.

Click on the categories below to discover a wealth of MCQs and enrich your understanding of various subjects. Happy exploring!

Railway Engineering

Embark on a journey through the world of railway systems with our Railway Engineering...

Engineering Geology

Explore the dynamic field of Engineering Geology with our specialized category. Delve...

Total Quality Management

Enhance your understanding of quality management with our Total Quality Management...

General Knowledge

Expand your horizons and stay informed about the world with our General Knowledge...

IC38 Life Insurance Agent Exam

Prepare for success in the Insurance Institute of India (III) IC38 IRDA examination...

Verbal Ability

Hone your language and communication skills with our Verbal Ability category. Enhance...

International Relations

Navigate the complex world of International Relations with our dedicated category....

Surveying

Master the art of land surveying and geomatics with our Surveying category. Explore...

Corrosion Engineering

Master the art of preventing material deterioration with our Corrosion Engineering...