Agency Channel Quiz

What are the roles of agents and brokers in the agency channel?

• Agents and brokers are responsible for designing insurance policies

• Agents and brokers handle customer complaints and feedback

• Agents and brokers in the agency channel act as intermediaries between insurance companies and customers, helping customers find the right insurance coverage and assisting with the purchase process.

• Agents and brokers are in charge of marketing and advertising for insurance companies

How do insurance agents typically earn their income?

• Insurance agents earn their income through government subsidies

• Insurance agents earn their income through fixed monthly salary

• Insurance agents earn their income through investments in the stock market

• Insurance agents typically earn their income through commissions and bonuses based on the policies they sell.

What is full form of FC in HDFC Life?

• Financial Company

• Financial Consultant

• Financial Customer

• Fulfillment Center

What is duration of training to become Life Insurance Agent?

• 50

• 15

• 10

• 25

Which Exam an Agent need to clear to become certified LI Agent?

• IC 31 Exam

• IC 38 Exam

• IC 40 Exam

• IC 44 Exam

How Tied Agency channel operates?

• Here sales manager recruits agent who generates business for him

• Here sales manager recruits part time on role employee who generates business for him

• None of the above

How ABP Vertical operates in HDFC Life?

• Here sales manager recruits agent who generates business for him

• Here sales manager recruits part time employees who further recruit agents who generates business for him

• Here part time employee recruits agent who generates business for him

• Here Agents recruit agents who generates business for him

What is maximum commission slab for Individual Agents in Agency Channel

• Up to 35%

• Up to 25%

• Up to 55%

• Up to 40%

What is benefit of becoming an Agent in Insurance?

• Commission

• Contest Prizes

• Club member benefit

• All of the Above

An agent is Agency channel also gets Renewal commission. Whether this statement is true or false?

• True

• False