Identify the statement which is not correct. Insurance agent should _________.
A. Indicate the scale of commission if asked by the customer
B. Share the commission by way of rebate
C. Disclose his licence on demand
D. Indicate the premium to be charged
Answer: Option B
Solution (By Examveda Team)
Insurance agent should not share the commission by way of rebate. This practice is illegal and totally against the laws of Insurance Act and SEBI. The agent can even face cancellation of his license if he is found to share his commission.Related Questions on Insurance
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