Question

What is the final extra mortality rating based on in the numerical rating method?

a.

The total number of credits earned by the applicant

b.

The total number of debits earned by the applicant

c.

The percentage total mortality of the group in which the applicant has been classified

d.

The value of the standard life

Posted under IC22 Life Insurance Underwriting

Answer: (c).The percentage total mortality of the group in which the applicant has been classified Explanation:The final extra mortality rating in the numerical rating method is equivalent to the percentage total mortality of the group in which the applicant has been classified.

Interact with the Community - Share Your Thoughts

Uncertain About the Answer? Seek Clarification Here.

Understand the Explanation? Include it Here.

Q. What is the final extra mortality rating based on in the numerical rating method?
Add Comment

Similar Questions

Explore Relevant Multiple Choice Questions (MCQs)

Q. What are the different factors used for assessment by underwriters?

View solution

Q. Which factors (other than health related) are included in the 1st phase of assessment by underwriters?

View solution

Q. Which factors (other than health related) are included in the 2nd phase of assessment by underwriters?

View solution

Q. Which factors (other than health related) are included in the 3rd phase of assessment by underwriters?

View solution

Q. How do underwriters make a numerical or percentage assessment of risk for each phase?

View solution

Q. What are the steps involved in the numerical rating method used by underwriters?

View solution

Q. What is the value of standard risk?

View solution

Q. What factors are assessed during the risk assessment phase in the numerical rating method?

View solution

Q. How are numerical ratings assigned based on EMR?

View solution

Q. What are the steps involved in the Numerical Rating Method for risk assessment?

View solution

Q. What is the reference point value for each factor in the Numerical Rating Method?

View solution

Q. What are the factors assessed in the risk assessment of an individual?

View solution

Q. What are mortality rates and how are they used in the Numerical Rating Method?

View solution

Q. What is extra mortality rate (EMR) and how is it used in the Numerical Rating Method?

View solution

Q. What are the rating guides and manuals based on?

View solution

Q. What do underwriting manuals contain?

View solution

Q. What is the purpose of a credit rating in underwriting?

View solution

Q. What is the purpose of a debit rating in underwriting?

View solution

Q. What is the extra mortality rate?

View solution

Q. What is the purpose of underwriting manuals in insurance and reinsurance?

View solution
View All MCQs on IC22 Life Insurance Underwriting

Recommended Subjects

Are you eager to expand your knowledge beyond IC22 Life Insurance Underwriting? We've handpicked a range of related categories that you might find intriguing.

Click on the categories below to discover a wealth of MCQs and enrich your understanding of various subjects. Happy exploring!

IC 92 Actuarial Aspects of Product Development

Sharpen your understanding of actuarial principles in product development with our...

Verbal Reasoning

Sharpen your logical thinking and reasoning abilities with our Verbal Reasoning...

Surveying

Master the art of land surveying and geomatics with our Surveying category. Explore...

Highway Engineering

Navigate the road to efficient transportation with our Highway Engineering category....

Engineering Materials

Discover the building blocks of engineering with our Engineering Materials category....

Railway Engineering

Embark on a journey through the world of railway systems with our Railway Engineering...

Power Plant Engineering

Embark on a journey through the fascinating domain of Power Plant Engineering, where...

Biotechnology

Discover the cutting-edge world of biotechnology with our Biotechnology category....

UIDAI Aadhaar Supervisor Certification

Prepare for the UIDAI Aadhaar Supervisor Certification with our specialized category....