CIC AGENCY MANAGEMENT
EXAMINATION SET 2026 SOLVED
QUESTIONS GRADED A+
● To be recognized as knowledgeable, gain public trust, avoid
government regulation, enhance credibility. Answer: What are the
benefits of being ethical?
● True. Answer: Is this example an ethical issue? Rating a vehicle using
the wrong classification
● No. Answer: Are you allowed to sign for the insured even if the
insured gave permission?
● peer standards, Contracts (oral & written agreements), statutes.
Answer: Legal duties are based on three criteria:
● Peer standards. Answer: This requires a person's duty be performed in
a manner similar to others in the same position. They are not written.
● Contracts (oral and written agreements). Answer: An agreement
between two or more parties that creates an obligation to do or not to do
a particular thing.
, ● Statutes. Answer: Written laws and open to little interpretation.
● Actual/Expressed Authority. Answer: Authority that is expressly given
to the agency as found in the contract.
● Implied Authority. Answer: This authority the insurance company has
allowed the agent to have the appearance of authority either through
custom and usage or estoppel
● Estoppel. Answer: Company is stopped from denying the agent's
authority when it has allowed the same activity in the past without
taking any corrective action
● Apparent authority. Answer: The appearance or the assumption of
authority based on the actions, words, or deeds of the principal or
because of circumstances the principal created.
● Loyalty, good faith, reasonable care, contractual duties. Answer: What
are the standards of care agents owe to their insurance companies?
● adequate coverage, proper coverage, coverage placed in best interest,
prompt communication, coverage with financially sound company.
Answer: What are the standards of care owed to the customers?
EXAMINATION SET 2026 SOLVED
QUESTIONS GRADED A+
● To be recognized as knowledgeable, gain public trust, avoid
government regulation, enhance credibility. Answer: What are the
benefits of being ethical?
● True. Answer: Is this example an ethical issue? Rating a vehicle using
the wrong classification
● No. Answer: Are you allowed to sign for the insured even if the
insured gave permission?
● peer standards, Contracts (oral & written agreements), statutes.
Answer: Legal duties are based on three criteria:
● Peer standards. Answer: This requires a person's duty be performed in
a manner similar to others in the same position. They are not written.
● Contracts (oral and written agreements). Answer: An agreement
between two or more parties that creates an obligation to do or not to do
a particular thing.
, ● Statutes. Answer: Written laws and open to little interpretation.
● Actual/Expressed Authority. Answer: Authority that is expressly given
to the agency as found in the contract.
● Implied Authority. Answer: This authority the insurance company has
allowed the agent to have the appearance of authority either through
custom and usage or estoppel
● Estoppel. Answer: Company is stopped from denying the agent's
authority when it has allowed the same activity in the past without
taking any corrective action
● Apparent authority. Answer: The appearance or the assumption of
authority based on the actions, words, or deeds of the principal or
because of circumstances the principal created.
● Loyalty, good faith, reasonable care, contractual duties. Answer: What
are the standards of care agents owe to their insurance companies?
● adequate coverage, proper coverage, coverage placed in best interest,
prompt communication, coverage with financially sound company.
Answer: What are the standards of care owed to the customers?
