Question

Why is it essential for an agent to inform the prospect about the acceptance or rejection of the proposal by the insurer in a prompt manner?

a.

To create a sense of urgency

b.

To reduce communication efforts

c.

To fulfill regulatory requirements

d.

To encourage prospects to buy more policies

Posted under IC38 Life Insurance Agent Exam

Answer: (c).To fulfill regulatory requirements Explanation:Informing the prospect about the acceptance or rejection of the proposal by the insurer in a prompt manner is essential to fulfill regulatory requirements and provide transparency.

Interact with the Community - Share Your Thoughts

Uncertain About the Answer? Seek Clarification Here.

Understand the Explanation? Include it Here.

Q. Why is it essential for an agent to inform the prospect about the acceptance or rejection of the proposal by the insurer in a prompt manner?
Add Comment

Similar Questions

Explore Relevant Multiple Choice Questions (MCQs)

Q. What is the primary duty of an insurance agent regarding insurance products?

View solution

Q. When representing multiple insurers offering the same line of products, what care should an agent take?

View solution

Q. What is an agent's responsibility in relation to the information provided in the proposal form?

View solution

Q. Why should an agent assist and advise customers, policyholders, claimants, and beneficiaries on policy servicing matters?

View solution

Q. What is one of the prohibitions for insurance agents when soliciting insurance business?

View solution

Q. What is a prohibited action for insurance agents when dealing with prospects and policyholders?

View solution

Q. What is the prohibition regarding multilevel marketing for insurance agents?

View solution

Q. What responsibility do agents have regarding issuing insurance advertisements?

View solution

Q. Under what circumstances can an insurance agent's appointment be suspended or canceled?

View solution

Q. What is the consequence of an insurance agent's appointment being canceled?

View solution

Q. What is the purpose of the "Centralised list of black-listed agents" maintained by the Authority?

View solution

Q. What authority can IRDAI use to inspect the affairs of an insurance agent?

View solution

Q. Which of the following is NOT a reason for taking action against an insurance agent?

View solution

Q. Which of the following statements is incorrect? An insurance agent shall not -

View solution

Q. An insurance agent is allowed to

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!

Concrete Technology

Welcome to Concrete Technology, a category that unravels the secrets behind the...

Analytical Instrumentation

Dive into the world of precise measurements with our Analytical Instrumentation...

Virology

Explore the captivating world of Virology with our specialized category. Dive into...

Microbiology

Uncover the fascinating world of microbes with our Microbiology category. Delve into...

Marketing and Marketing Management

Uncover the strategies and tactics of marketing with our Marketing and Marketing...

Corrosion Engineering

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

Instrumentation Transducers

Master the art of instrumentation and transducers with our specialized category....

DC Machines

Dive into the fundamentals of direct current (DC) machines with our specialized...

General Knowledge

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