1651. Prospecting in an insurance sale is

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Gathering the names of people who may be interested in insurance
Preparing a list of all the persons in a city
Enlisting all the policyholders of a branch office
Preparing a list of all the agents in a neighborhood
✅ The correct answer is A.
Prospecting in an insurance sale is gathering the names of people who may be interested in insurance.Prospecting is the process of gathering names of people who can be approached for a sales interview.

1649. Who is the person that arranges for a customer to get the necessary insurance?

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An agent
A retailer
A broker
An intermediary
✅ The correct answer is A.
An agent is the person that arranges for a customer to get the necessary insurance. An agent is a person who represents an insurance firm and sells insurance policies on its behalf. Description: Generally, there are two types of such agents who reach the prospective parties that may be interested in buying insurance. These are independent agents and captive or exclusive agents.

1648. The per-product price consumers are willing to pay for a bundle ____________ as the number of goods in the bundle increases.

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decreases
increases
varies from product to product
stays the same
✅ The correct answer is B.
The per-product price consumers are willing to pay for a bundle increases as the number of goods in the bundle increases. The willingness of consumers to pay can, at times, be quite volatile. With bundle pricing, the seller lowers the variance on this willingness to pay and increases its profit by selling bundles of products instead of selling all products separately.

1645. Pick out the incorrect statement from the below mentioned statements.

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Insurance agent represents his client in the first place
Insurance agent represents his company in the first place and always
There is a difference between an agent and a broker
Broker represents his client unlike an agent
✅ The correct answer is A.
Insurance agent does not represents his client in the first place. Insurance Agents enter into a contract to represent an insurer.

1643. Identify the correct statement from the following:-

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Par policies do not participate in the profits of the insurance companies
Under Traditional plans, investments are made without any regulatory supervision
Non-participating policies could be offered in linked or non-linked platform
Non-par policies are with profit policies
✅ The correct answer is C.
Non-participating policies could be offered in linked or non-linked platform. Life insurance policy whose policyholders do not receive dividends, because they are not participants in the interest, dividends, and capital gains earned by the insurer on premiums paid.