Question

Doug approaches Ed about purchasing term life insurance. Ed has access to many different life insurance companies to get the best quote for Doug. In this situation, Ed would best be described as a(an)

1. Agent
2. Fiduciary
3. Contractor
4. Broker

Answer 1

In this situation, Ed is best described as a Broker, as he connects buyers and sellers in the life insurance market by providing quotes from multiple insurance companies.

Step-by-step explanation:

In this situation, Ed is best described as a Broker. A broker is an individual or entity that connects buyers and sellers in a specific market, in this case, the life insurance market. Ed has access to multiple life insurance companies and can provide Doug with quotes from different companies to help him find the best option.