New York Insurance Exam Practice Question
What is the role of an insurance broker?
Correct Answer: B
Rationale: An insurance broker primarily represents the client, advocating for their best interests by finding suitable insurance policies that meet their specific needs. Option A is incorrect because brokers do not represent the insurance companies; rather, they work on behalf of clients to navigate various options. Option C is misleading, as underwriting policies is typically the responsibility of insurance companies, not brokers. Option D is also incorrect; setting premium rates is a function of insurers based on risk assessment, not the role of a broker.
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