Alberta General Insurance Level 1 Practice Exam

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What can brokers do that insurance agents typically cannot?

  1. Sell policies from multiple insurers

  2. Cancel contracts and move business to another insurer

  3. Work directly for insurance companies

  4. Only sell policies from a single insurer

The correct answer is: Cancel contracts and move business to another insurer

Insurance agents are often licensed to sell policies from a single insurer, whereas brokers are licensed to sell policies from multiple insurers. This means that brokers have the ability to switch their clients to different insurers if they can find a better policy for their clients. Option C is incorrect because both insurance agents and brokers can work for insurance companies. Option D is incorrect because brokers can sell policies from multiple insurers.

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