NIBA Webinar | In Practice: Informed Consent Webinar 1
1. The informed consent provisions apply to:
a) Brokers who provide general advice to retail and wholesale clients
b) Brokers who provide general advice to retailclients
c) Brokers who provide personal advice to retail and wholesale clients
d) Brokers who provide personal advice to retail clients
2. True or false, clients may provide informed consent verbally?
a) True
b) False
3. Once the client provides consent what must you do?
a) Record the client’s consent either in writing or create a written record that verbal consent has been provided
b) Provide a copy of the consent, or the written record of verbal consent, to the client
c) All of the above
4. What information does not need to be disclosed prior to obtaining the client’s consent?
a) A statement that the client’s consent, once provided, is irrevocable.
b) The nature of the services that will be provided to the client in relation to the relevant product
c) How long the product has been in market for
d) The rate of the monetary benefit the insurance broker will receive, expressed as a percentage
5. True or False, if a client doesn’t respond to a requestfor consent the broker can place the policy without consent?
a) True
b) False
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