Question

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

a.

Height and weight

b.

Age, gender, and medical history

c.

Occupation and place of residence

d.

All of the above

Posted under IC22 Life Insurance Underwriting

Answer: (d).All of the above Explanation:The risk assessment of an individual includes factors such as physical build, age, gender, medical history, occupation, place of residence, family medical history, and moral hazard factors.

Interact with the Community - Share Your Thoughts

Uncertain About the Answer? Seek Clarification Here.

Understand the Explanation? Include it Here.

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

Similar Questions

Explore Relevant Multiple Choice Questions (MCQs)

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

Q. What are mortality rates?

View solution

Q. What is extra mortality rate or EMR?

View solution

Q. What is the concept of favourable and unfavourable factors in risk assessment?

View solution

Q. What is the value range of a standard life in risk assessment?

View solution

Q. How are credit ratings used in risk classification?

View solution

Q. What does an extra mortality rating of 100% imply?

View solution

Q. What is the final rate based on which the applicant is classified in the risk classification process?

View solution

Q. How is the total accumulation of debit and credit rounded off in the risk classification process?

View solution

Q. In the risk classification process, how are the ratings for unfavourable factors treated?

View solution

Q. What is a standard life in the risk classification process?

View solution

Q. What is the range of assessment values for an individual to be categorized as standard risk in life insurance?

View solution

Q. How is an individual categorized if their assessment value is more than 125% in the risk classification process?

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!

Optical Communication

Explore the world of high-speed data transmission with our Optical Communication...

Biology

Dive into the realm of life sciences with our Biology category. Explore the wonders...

UIDAI Aadhaar Supervisor Certification

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

Bioinformatics

Unlock the power of data analysis in biology with our Bioinformatics category....

Enzyme Technology

Unlock the power of enzymes with our Enzyme Technology category. Explore enzyme...

Analytical Instrumentation

Dive into the world of precise measurements with our Analytical Instrumentation...

IC 92 Actuarial Aspects of Product Development

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

Electronics and Communication Engineering

Explore the dynamic field of Electronics and Communication Engineering with our...

Human and Cultural Diversity

Explore the rich tapestry of human societies with our Human and Cultural Diversity...