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CMFASPrepStudyingRES5
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Financial advisory
RES5Financial Advisory Services✓Which statement best distinguishes an insurance broker from a tied insurance agent?
A broker traditionally acts on behalf of the client (the insured), whereas a tied insurance agent acts as the agent of the insurer. This distinction affects whose knowledge and conduct is attributed to whom.
Reverse of the common confusion: the broker acts for the client, the agent for the insurer.
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