Understand the law of agency and itsapplication to insurance
4.1 Explain the nature of agency and how an agency relationship can be created.
4.2 Explain the relationships between agents, principalsand third parties.
4.3 Explain the nature of an agent’s rights,responsibilities, authority and duties.
4.4 Explain the termination of agency and its effects.
4.5 Explain how the principles of agency law apply toinsurance.
4.6 Apply the principles of agency law to practicalsituations.