Ohio Insurance Laws and Regulations Practice Exam

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Study for the Ohio Insurance Laws and Regulations Exam. Prepare with flashcards and multiple choice questions, each question has hints and explanations. Get ready for your exam!

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.