Ohio Surety Bail Agent Practice Exam

Which of the following types of agents is included in the definition of an insurance agent?

1. Sole proprietors

2. Limited lines insurance agents

3. Independent contractors

4. Financial advisors

The correct answer is: Limited lines insurance agents

The definition of an insurance agent encompasses various roles within the insurance industry, including limited lines insurance agents. Limited lines insurance agents are authorized to sell specific types of insurance products as defined by the regulations in Ohio. This category typically includes agents who focus on particular lines, such as travel insurance or automobile insurance, and their responsibilities are often more specialized compared to broader insurance agents. Limited lines insurance agents have the appropriate licensing and training to represent specific insurance products, making them a recognized part of the insurance agency framework. This role is uniquely identified and regulated to ensure that consumers receive informed guidance when purchasing specific types of insurance. The other options—sole proprietors, independent contractors, and financial advisors—do not specifically fall under the definition of an insurance agent as they can pertain to broader professional roles or practices that may or may not involve selling insurance products directly. Thus, limited lines insurance agents are uniquely positioned within the insurance landscape, making option B the correct choice.