LLQP Exam Dumps | After working nine years as an insurance agent, Jamie decides to make a change in her life and go back

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Question 78

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Question 78/126

After working nine years as an insurance agent, Jamie decides to make a change in her life and go back to school. A colleague she used to work with on personal health insurance congratulatesher and tells her that he will pay her a flat fee for every health insurance referral she makes to him, as long as the referral results in a sale. What could be said about this referral arrangement?

A. It is allowed, because Jamie used to be a licensed agent herself.

B. It is allowed, provided the persons being referred are aware of the arrangement.

C. It is not allowed, because Jamie's earnings are contingent upon the agent's sales.

D. It is not allowed, because Jamie earns a flat fee for each prospect referred.

Correct Answer: C

Comprehensive and Detailed in Depth Explanation with Exact Extract from Documents andGuides:
TheIFSE Ethics and Professional Practice Course (Common Law)states that only licensed agents can receive compensation for insurance referrals, and payments contingent on sales are prohibited for unlicensed individuals. Jamie is no longer an agent, and the flat fee is contingent on sales, violating regulatory rules. Her past licensure (A) doesn't permit this, client awareness (B) doesn't override the licensing requirement, and the flat fee structure (D) isn't the issue-contingency is. This protects against unlicensed solicitation, making C correct.
References:
IFSE Ethics and Professional Practice Course (Common Law), Module 4: Regulatory Environment, Section on "Compensation and Referrals."

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