Question

All of the following are included as definitions of "transact" as applied to insurance EXCEPT

1. solicitation.
2. underwriting.
3. negotiations preliminary to execution.
4. execution of a contract of insurance.

Answer 1

The definition of 'transact' in relation to insurance includes solicitation, underwriting, negotiations, and contract execution, with underwriting being the exception.

Step-by-step explanation:

The transact definition as applied to insurance includes solicitation, underwriting, negotiations preliminary to execution, and execution of a contract of insurance. Therefore, option 2: underwriting is not included as a definition of 'transact' as applied to insurance. Underwriting refers to the process of evaluating and assessing risk before accepting or rejecting an insurance application.