Ohio Insurance Laws and Regulations Practice Exam

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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!

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All of the following actions are considered rebating except?

Offering a premium discount
Providing special favors
Sharing commissions with other agents
Giving gifts for purchasing policies

The correct answer is: Sharing commissions with other agents

Rebating is when someone offers to give the client something in return for their business. Choice A correctly describes rebating as it is offering a premium discount. Choice B is similar to rebating as it involves providing special favors to entice clients to do business, however, this differs from rebating as it isn't a tangible item. Choice D also pertains to purchasing policies and offering gifts, again not matching the definition of rebating as it does not involve a discount or tangible item. Choice C, sharing commissions with other agents, is the only option that does not involve offering something to the client, but rather dividing commissions within the company or agents.