Which of the following is NOT a type of agent authority?

The correct answer is based on the concept of agent authority in the context of insurance and broader business practices. Apparent, implied, and express authorities are all recognized forms of authority that an agent can have, representing different ways in which an agent can act on behalf of a principal.

Apparent authority arises when a principal's actions suggest to a third party that an agent possesses certain powers, even if those powers haven’t been explicitly granted. Implied authority is the authority that is not explicitly stated but exists as a logical extension of an agent's role. Express authority is that which is clearly and explicitly stated in agreements or contracts between the principal and the agent, outlining exactly what the agent can do.

On the other hand, ratified authority is different in nature. It refers to the authority that is granted after an action has been taken, where the principal approves or ratifies an unauthorized act made by the agent. Since ratified authority does not fit into the traditional categories of agent authority as commonly recognized in insurance practices, it makes sense that it is not considered a typical type of authority that an agent possesses before taking action.

Therefore, ratified authority is the form that does not align with the direct types of agent authority discussed in the context of the