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Directly or indirectly, making an agreement as to the premium to be paid other than as set forth in the policy is considered misconduct" under the RIB Act. Which one (1) of the following actions is NOT "misconduct"? OA) Allowing a refund to the client not authorized by the policy. OB) Giving a rebate to a policyholder of the whole or part of the premium. OC) Paying the cost of a family's vacation in Florida in return for them agreeing to purchase their insurance from you. OD) Allowing a dividend or bonus as provided for in the policy.

Directly or indirectly, making an agreement as to the premium to be paid other than as set forth in the policy is considered misconduct" under the RIB Act. Which one (1) of the following actions is NOT "misconduct"? OA) Allowing a refund to the client not authorized by the policy. OB) Giving a rebate to a policyholder of the whole or part of the premium. OC) Paying the cost of a family's vacation in Florida in return for them agreeing to purchase their insurance from you. OD) Allowing a dividend or bonus as provided for in the policy.

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Directly or indirectly, making an agreement as to the premium to be paid other than as set forth in the policy is considered "misconduct" under the RIB Act. Which one (1) of the following actions is NOT "misconduct"? OA) Allowing a refund to the client not authorized by the policy. OB) Giving a rebate to a policyholder of the whole or part of the premium. OC) Paying the cost of a family's vacation in Florida in return for them agreeing to purchase their insurance from you. OD) Allowing a dividend or bonus as provided for in the policy.
Transcribed Image Text:Directly or indirectly, making an agreement as to the premium to be paid other than as set forth in the policy is considered "misconduct" under the RIB Act. Which one (1) of the following actions is NOT "misconduct"? OA) Allowing a refund to the client not authorized by the policy. OB) Giving a rebate to a policyholder of the whole or part of the premium. OC) Paying the cost of a family's vacation in Florida in return for them agreeing to purchase their insurance from you. OD) Allowing a dividend or bonus as provided for in the policy.
A local automobile dealer offers to pass leads to you as a registered insurance broker when cars are sold to customers who require automobile insurance. In return, he/she wants the premium their spouse's car automobile insurance to be reduced. How would you respond to this request? OA) Certainly. I can reduce the premium up to the amount of the commission. OB) I can pay you a referral fee equal to the first year's premium. OC) Under RIBO regulations, I am prohibited from paying a finder's fee to a person who is not licenced or registered as a general insurance intermediary or who is not listed under Ontario Regulation 991, Section 15 (12). OD) I cannot pay you anything directly, but I can give your spouse a free home security system instead.
Transcribed Image Text:A local automobile dealer offers to pass leads to you as a registered insurance broker when cars are sold to customers who require automobile insurance. In return, he/she wants the premium their spouse's car automobile insurance to be reduced. How would you respond to this request? OA) Certainly. I can reduce the premium up to the amount of the commission. OB) I can pay you a referral fee equal to the first year's premium. OC) Under RIBO regulations, I am prohibited from paying a finder's fee to a person who is not licenced or registered as a general insurance intermediary or who is not listed under Ontario Regulation 991, Section 15 (12). OD) I cannot pay you anything directly, but I can give your spouse a free home security system instead.
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