DEF Life Ltd cannot use the term 'insurance broker' unless which condition is met?

• A. I only.
• B. I and II only.
• C. II and III only.
• D. I, II and III.

Answer: (A)

The core idea is that using a protected professional title in the insurance industry hinges on having the proper authorisation. The term “insurance broker” is restricted to entities that are licensed or authorised to perform brokerage services. In this scenario, only the first condition needs to be met for DEF Life Ltd to use the term. Once that licensing condition is satisfied, they may call themselves an insurance broker, even if other conditions aren’t met. This reflects that the title itself signals regulatory status, while other conditions may pertain to different regulatory requirements but do not affect the ability to use the title. If the licensing condition isn’t met, using the term would be misleading and could breach regulations.