If a prospect does NOT submit the initial premium with an application, the producer should A.refuse tratinghe application B.submit the application to the insurance company and advance the premium for he prospect from the agency account C.submit the applicalion to the insurance company without the premium D.give lhe applicant a conditional receipt and send the application to the insurance company wilhout the premium

If a prospect does NOT submit the initial premium with an application, the producer should A.refuse tratinghe application B.submit the application to the insurance company and advance the premium for he prospect from the agency account C.submit the applicalion to the insurance company without the premium D.give lhe applicant a conditional receipt and send the application to the insurance company wilhout the premium

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

If a prospect does NOT submit the initial premium with an application, the producer should

A.refuse tratinghe application

B.submit the application to the insurance company and advance the premium for he prospect from the agency account

C.submit the applicalion to the insurance company without the premium

D.give lhe applicant a conditional receipt and send the application to the insurance company wilhout the premium

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