Funds held by an insurance producer in a fiduciary capacity

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Funds held by an insurance producer in a fiduciary capacity

A) cannot be converted to an individual’s or a firm’s own use

B) can be used as income by the producer, since they result from sales

C) must be held in the producer’s personal account for at least 15 days

D) are deemed producer funds if they are premiums collected to pay for insurance coverage

Answer: cannot be converted to an individual’s or a firm’s own use

The above question Funds held by an insurance producer in a fiduciary capacity, Was part of Insurance MCQs & Answers. I hope you got the correct answer to your question. Have a great time ahead.