Understanding Insurance Underwriting FINAL EXAM (MD 103721PC)

An exempt policy holder is exempt from which of the following?

Rate and form requirements

Which of the following losses would not be insurable?

A loss that occurred to many people simultaneously

Life insurers can use which of the following methods when they reinsure their clients?

All of the answers supplied are correct

Who fills out an APS for a health insurance applications?

Attending Physician Statement should be completed by a practicing physician with a doctoral degree, if possible

Heavily regulated lines of insurance are most likely to use which of the following as their rate assignment method?

Manual rating

Which part of underwriting is often directly impacted by state law?

Rate determination

When underwriting insurance for clients, underwriters need to know which of the following?

The risks the client is involved in and methods for dealing with those risks

Inland marine personal property applications include more information about which of the following than other forms of insurance?

The safekeeping of the property

Insurance regulations that address insurance rates are trying to establish which of the following?

Adequate rates that are not excessive or discriminatory

In order to avoid intentional losses, the underwriter will try to establish which of the following?

Insurable interest

Insurance applicants can be accepted by an insurer in which of the following ways?

All of the answers supplied are correct