QuestionMay 25, 2025

If an intermediary consults with an attorney, a certified public accountant (CPA)a Chartered Financial Consultant (ChFC), and a trust officer about a large life insurance program, he may legally split his commission with the; A. attorney, if he is a member of the state bar B. CPA, if he is a member of the American Association of Certified Public Accountants C. consultant, if he holds a law degree trust officer, if he holds a life insurance license You are logged

If an intermediary consults with an attorney, a certified public accountant (CPA)a Chartered Financial Consultant (ChFC), and a trust officer about a large life insurance program, he may legally split his commission with the; A. attorney, if he is a member of the state bar B. CPA, if he is a member of the American Association of Certified Public Accountants C. consultant, if he holds a law degree trust officer, if he holds a life insurance license You are logged
If an intermediary consults with an attorney, a certified public accountant (CPA)a Chartered Financial Consultant (ChFC), and a trust officer about a large life insurance program, he may
legally split his commission with the;
A. attorney, if he is a member of the state bar
B. CPA, if he is a member of the American Association of Certified Public Accountants
C. consultant, if he holds a law degree
trust officer, if he holds a life insurance license
You are logged

Solution
4.0(123 votes)

Answer

D. trust officer, if he holds a life insurance license Explanation 1. Identify Legal Requirements for Commission Splitting Generally, commission splitting is allowed only with individuals who hold the appropriate licenses related to the insurance industry. 2. Evaluate Each Option A. Attorney: Membership in the state bar does not qualify for commission splitting in insurance. B. CPA: Membership in the American Association of Certified Public Accountants does not qualify for commission splitting in insurance. C. Consultant: Holding a law degree does not qualify for commission splitting in insurance. D. Trust Officer: Holding a life insurance license qualifies for commission splitting in insurance.

Explanation

1. Identify Legal Requirements for Commission Splitting<br /> Generally, commission splitting is allowed only with individuals who hold the appropriate licenses related to the insurance industry.<br /><br />2. Evaluate Each Option<br /> A. Attorney: Membership in the state bar does not qualify for commission splitting in insurance.<br /> B. CPA: Membership in the American Association of Certified Public Accountants does not qualify for commission splitting in insurance.<br /> C. Consultant: Holding a law degree does not qualify for commission splitting in insurance.<br /> D. Trust Officer: Holding a life insurance license qualifies for commission splitting in insurance.
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