True or False: Agents must receive their certificate of authority from the insurance company within 15 days of selling an insurance product.

The statement that agents must receive their certificate of authority from the insurance company within 15 days of selling an insurance product is considered true. This requirement is in place to ensure that agents are properly authorized to represent the insurance company and sell its products. The certificate of authority serves as an official acknowledgment from the insurance carrier that the agent is licensed and permitted to sell its policies, providing a layer of trust for consumers.

This provision is crucial for maintaining compliance with insurance regulations, which are designed to protect both agents and consumers. By receiving this certificate promptly, agents can demonstrate their legitimacy and ensure they are operating within legal parameters.

The other options imply nuances around variations in regulations or specific conditions that may not apply universally or could create ambiguity, but the 15-day rule is a standard guideline that reinforces the agent's official capacity to conduct insurance business immediately upon sale.