Q. What does anti-selection mean in the context of insurance?In underwriting for life insurance, what does the term "risk" refer to?

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Q. Why is underwriting important in the insurance industry?

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Q. What might happen if an insurance company does not exercise underwriting discretion?

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Q. What is the primary objective of ensuring "equity among risks" in life insurance underwriting?

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Q. What does "risk classification" in underwriting involve?

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Q. Which risk class represents individuals with anticipated mortality that corresponds to standard lives?

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Q. What characterizes "preferred risks" in life insurance underwriting?

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Q. What is the classification for individuals whose impairments and anticipated extra mortality make insurance coverage unaffordable?

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Q. What is the primary role of an agent in the field level underwriting process?

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Q. Why is the agent considered a significant figure in the underwriting process?

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Q. Where does primary underwriting, also known as field level underwriting, typically take place?

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Q. What is the main level of underwriting known as?

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Q. Who is responsible for considering all relevant data and deciding whether to accept a proposal for life insurance at the department level?

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Q. Which underwriting method relies on subjective judgment, especially for complex cases?

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Q. When using the numerical method, what type of points are assigned to negative or adverse factors?

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Q. What is the sum total of positive and negative points, often referred to as?

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Q. In the judgment method, when might an underwriting department seek the expert opinion of a medical doctor?

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Q. What does a higher EMR indicate in underwriting?

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Q. What does "Acceptance at ordinary rates (OR)" mean in underwriting decisions?

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Q. In underwriting, what is the most common way of dealing with the large majority of sub-standard risks?

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