H04 Health Insurance Underwriting MCQs

Welcome to our comprehensive collection of Multiple Choice Questions (MCQs) on H04 Health Insurance Underwriting, a fundamental topic in the field of IC38 Life Insurance Agent Exam. Whether you're preparing for competitive exams, honing your problem-solving skills, or simply looking to enhance your abilities in this field, our H04 Health Insurance Underwriting 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 H04 Health Insurance Underwriting mcq questions that explore various aspects of H04 Health Insurance Underwriting problems. Each MCQ is crafted to challenge your understanding of H04 Health Insurance Underwriting principles, enabling you to refine your problem-solving techniques. Whether you're a student aiming to ace IC38 Life Insurance Agent Exam tests, a job seeker preparing for interviews, or someone simply interested in sharpening their skills, our H04 Health Insurance Underwriting MCQs are your pathway to success in mastering this essential IC38 Life Insurance Agent Exam topic.

Note: Each of the following question comes with multiple answer choices. Select the most appropriate option and test your understanding of H04 Health Insurance Underwriting. 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 H04 Health Insurance Underwriting knowledge to the test? Let's get started with our carefully curated MCQs!

H04 Health Insurance Underwriting MCQs | Page 5 of 7

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Q41.
What may be required for persons above the age of 45-50 years enrolling for health insurance for the first time?

a.

Proof of address

b.

Income verification

c.

Specified pathological investigations

d.

Educational qualifications

Discuss
Answer: (c).Specified pathological investigations Explanation:Persons above the age of 45-50 years enrolling for health insurance for the first time may be required to undergo specified pathological investigations to assess their health risk profile and obtain information on their current health status.
Q42.
What is the primary basis for determining premium rates and sum assured in non-medical underwriting?

a.

Educational qualifications of the proposer

b.

Income of the proposer

c.

Answers to health questions

d.

Number of dependents

Discuss
Answer: (c).Answers to health questions Explanation:In non-medical underwriting, premium rates and sum assured are usually decided based on the answers to health questions, including age, gender, smoking class, build, etc.
Q43.
How does non-medical underwriting differ from medical underwriting in terms of speed and premiums?

a.

Non-medical underwriting is slower but has lower premiums

b.

Non-medical underwriting is faster but has higher premiums

c.

Both are equally speedy and have similar premiums

d.

Non-medical underwriting is unrelated to speed and premiums

Discuss
Answer: (b).Non-medical underwriting is faster but has higher premiums Explanation:Non-medical underwriting is faster but may have relatively higher premiums compared to medical underwriting.
Q44.
What is the Numerical rating method in underwriting?

a.

A process that uses letters to assess risk components

b.

A process that assigns numerical or percentage assessments to risk components

c.

A process that relies on visual assessments

d.

A process that uses symbols to assess risk components

Discuss
Answer: (b).A process that assigns numerical or percentage assessments to risk components Explanation:The Numerical rating method in underwriting involves assigning numerical or percentage assessments to risk components.
Q45.
What is the final step in the underwriting process?

a.

Gathering information from agents

b.

Determining premium rates

c.

Assessing and classifying risk based on received information

d.

Filling out proposal forms

Discuss
Answer: (c).Assessing and classifying risk based on received information Explanation:The final step in the underwriting process is assessing and classifying the risk based on the received information.
Q46.
What is the purpose of a "Counter offer" in underwriting?

a.

To accept the risk at standard rates

b.

To decline the cover

c.

To impose a higher deductible

d.

To offer an alternative or modified coverage

Discuss
Answer: (d).To offer an alternative or modified coverage Explanation:A "Counter offer" in underwriting is used to offer an alternative or modified coverage, which could include restrictions or denials of part of the cover.
Q47.
What are standard exclusions in insurance policies?

a.

Exclusions that apply only to specific individuals

b.

Exclusions that apply to all policyholders

c.

Exclusions that apply to policyholders in certain geographic areas

d.

Exclusions that apply to high-risk occupations

Discuss
Answer: (b).Exclusions that apply to all policyholders Explanation:Standard exclusions in insurance policies are exclusions that apply to all policyholders, and they are also known as general exclusions.
Q48.
How does zone-wise premium affect insurance policies?

a.

It increases the age of the insured person

b.

It depends on the sum insured selected

c.

It assigns higher premiums to certain geographic areas with higher claims costs

d.

It provides standard premium rates across all zones

Discuss
Answer: (c).It assigns higher premiums to certain geographic areas with higher claims costs Explanation:Zone-wise premium assigns higher premiums to certain geographic areas with higher claims costs, such as metropolitan cities, as compared to other zones.
Q49.
What is one of the important factors considered when underwriting group health insurance?

a.

The number of policies already issued

b.

The location of the group members

c.

The age of individual group members

d.

The group's industry type

Discuss
Answer: (d).The group's industry type Explanation:The type of industry of the group is an important factor considered when underwriting group health insurance.
Q50.
In group health insurance, what does the term "group size" refer to?

a.

The physical size of the group members

b.

The total number of group members

c.

The average age of the group members

d.

The geographical locations of the group members

Discuss
Answer: (b).The total number of group members Explanation:"Group size" in group health insurance refers to the total number of group members.
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