Ohio Insurance Laws and Regulations Practice Exam

Disable ads (and more) with a membership for a one time $2.99 payment

Prepare for the Ohio Insurance Laws Exam. Study with comprehensive materials, including flashcards and quizzes. Each question is detailed with explanations. Set yourself up for success!

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

Practice this question and more.

Who may share commissions in the insurance industry?

A licensed agent and appointed agent
An unlicensed individual and a licensed agent
A policyholder and an unlicensed agent
Anyone who requests it

The correct answer is: A licensed agent and appointed agent

In the insurance industry, commissions can be shared between a licensed and appointed agent. These are individuals who have met certain qualifications and been approved by an insurance company to sell their policies. Option B is incorrect because an unlicensed individual is not qualified to share commissions. Option C is also incorrect because a policyholder is not involved in commission sharing. Option D is incorrect because commissions cannot be shared with just anyone; they must be legally qualified individuals.