Question

What do underwriting manuals contain?

a.

Descriptions of various impairments and medical documentation required to assess the risk-profile of the applicant.

b.

Mortality rates for only a few medical conditions.

c.

Only favourable medical factors.

d.

Only unfavourable medical factors.

Posted under IC22 Life Insurance Underwriting

Answer: (a).Descriptions of various impairments and medical documentation required to assess the risk-profile of the applicant. Explanation:Underwriting manuals contain extra mortality rates for all possible medical conditions. It also contains descriptions of various impairments and medical documentation that would be required to assess the risk-profile of the applicant.

Interact with the Community - Share Your Thoughts

Uncertain About the Answer? Seek Clarification Here.

Understand the Explanation? Include it Here.

Q. What do underwriting manuals contain?
Add Comment

Similar Questions

Explore Relevant Multiple Choice Questions (MCQs)

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

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

View solution

Q. What is the combined effect of unfavourable factors in the risk classification process?

View solution

Q. How is the total credit rating for extra mortality calculated for an individual with multiple unfavourable factors?

View solution

Q. What is the "combination factor" in underwriting?

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!

Financial Management and Financial Markets

Master the world of finance with our Financial Management and Financial Markets...

Automotive Engine Design

Embark on a thrilling exploration of Automotive Engine Design, where the intricacies...

Environmental Biotechnology

Discover the intersection of biology and environmental science with our Environmental...

Heat Transfer

Explore the fascinating world of heat transfer with our Heat Transfer category....

Verbal Reasoning

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

Tissue Engineering

Delve into the cutting-edge field of Tissue Engineering with our specialized...

Analytical Instrumentation

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

Chemistry

Unlock the mysteries of chemistry with our Chemistry category. Delve into the...

Fluid Mechanics

Unlock the mysteries of fluids and their behavior with our Fluid Mechanics category....