Question
a.
The process of assessing and classifying individuals for health insurance
b.
The process of evaluating and pricing the risk associated with providing life insurance
c.
The process of selling life insurance policies to individuals
d.
The process of managing life insurance claims
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Q. What is life insurance underwriting?
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Q. What factors are considered in the underwriting process?
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Q. What is the main goal of life insurance underwriting?
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Q. What is the purpose of mortality tables in the underwriting process?
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Q. What is the first step that an underwriter follows in life insurance underwriting?
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Q. Which of the following sources can underwriters use to gather information for assessing the risk?
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Q. How does the underwriter measure the level of risk associated with an individual proposal?
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Q. What decision is taken if the predictive mortality does not deviate too much from that indicated in the mortality table provided by the actuaries?
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Q. When can the risk be postponed?
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Q. What decision is taken if the mortality risk is found to be substantially high when compared to the mortality table and is either predicted to remain static or may increase in the future?
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Q. What is the purpose of underwriting in life insurance?
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Q. Who are the professionals hired by insurance companies to perform underwriting?
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Q. What are the sources of information that underwriters use to assess the risk associated with an individual?
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Q. What is the purpose of rating the risk in life insurance underwriting?
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Q. Why does the underwriter need to ensure that the premium charged to the policyholder is sufficient to cover the risk associated with the policyholder?
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Q. Who performs the task of underwriting?
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Q. What is the first step in life insurance underwriting?
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Q. What are the ratings provided by the underwriter to individual cases in the process of rating the risk?
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