Which activity is considered an underwriting duty of an agent?

The activity that is considered an underwriting duty of an agent involves completing all applications and collecting initial premiums. Underwriting is fundamentally about assessing the risk associated with insuring an individual or entity, and agents play a key role in this process by gathering relevant information. When agents complete applications, they ensure that all necessary details are provided, which is critical for underwriters to evaluate the risk and determine appropriate policy terms. Additionally, collecting initial premiums is a starting point for the financial aspect of the policy, ensuring that coverage can begin. This responsibility illustrates the agent’s role in facilitating the underwriting process by providing the necessary documentation and financial commitment from the policyholder.

In contrast, while marketing insurance products is essential for an agent's overall duties, it doesn't directly relate to underwriting. Paying out claims is an insurer's obligation and reflects a separate function within the insurance process focusing on claims management. Adjusting premiums based on claims history typically falls under the purview of the underwriting department rather than being a direct responsibility of the agent. Each of these other activities serve different purposes in the insurance ecosystem but do not align with the specific role of underwriting that is highlighted in the correct option.