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