Life Underwriting Principles and Concepts Part 2 MCQs

Welcome to our comprehensive collection of Multiple Choice Questions (MCQs) on Life Underwriting Principles and Concepts Part 2, a fundamental topic in the field of IC22 Life Insurance Underwriting. Whether you're preparing for competitive exams, honing your problem-solving skills, or simply looking to enhance your abilities in this field, our Life Underwriting Principles and Concepts Part 2 MCQs are designed to help you grasp the core concepts and excel in solving problems.

In this section, you'll find a wide range of Life Underwriting Principles and Concepts Part 2 mcq questions that explore various aspects of Life Underwriting Principles and Concepts Part 2 problems. Each MCQ is crafted to challenge your understanding of Life Underwriting Principles and Concepts Part 2 principles, enabling you to refine your problem-solving techniques. Whether you're a student aiming to ace IC22 Life Insurance Underwriting tests, a job seeker preparing for interviews, or someone simply interested in sharpening their skills, our Life Underwriting Principles and Concepts Part 2 MCQs are your pathway to success in mastering this essential IC22 Life Insurance Underwriting topic.

Note: Each of the following question comes with multiple answer choices. Select the most appropriate option and test your understanding of Life Underwriting Principles and Concepts Part 2. You can click on an option to test your knowledge before viewing the solution for a MCQ. Happy learning!

So, are you ready to put your Life Underwriting Principles and Concepts Part 2 knowledge to the test? Let's get started with our carefully curated MCQs!

Life Underwriting Principles and Concepts Part 2 MCQs | Page 14 of 14

Discover more Topics under IC22 Life Insurance Underwriting

Q131.
What is extra mortality rate (EMR)?

a.

The mortality rate of sub-standard lives.

b.

The mortality rate of standard lives.

c.

The excess mortality as compared to the mortality of standard lives.

d.

The excess mortality as compared to the mortality of sub-standard lives.

Discuss
Answer: (c).The excess mortality as compared to the mortality of standard lives. Explanation:The extra mortality rate or EMR refers to the excess mortality as compared to the mortality of standard lives.
Q132.
How is the final rate determined in the numerical rating method?

a.

By debiting or crediting all the factors and totaling them.

b.

By multiplying the base rating with the extra mortality rate.

c.

By adding the base rating and the extra mortality rate.

d.

By taking the average of the base rating and the extra mortality rate.

Discuss
Answer: (a).By debiting or crediting all the factors and totaling them. Explanation:Once all the factors are debited or credited, they are then totaled to determine a final rate which would then classify the applicant as standard risk, sub-standard risk, or highly sub-standard risk.
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