Understanding Insurance Underwriting FINAL EXAM (FL-PC SAMPLE)

The job of an underwriter is to do which of the following?

Which of the following describes the type of documents an underwriter would want to help in his or her evaluation?

Which of the following describes a realistic workload for a fairly normal underwriter?

When underwriting insurance for clients, underwriters need to know which of the following?

Which of the following is true of the lines covered by most property and casualty underwriters?

An underwriter that would use medical history to evaluate a client’s insurability would most likely be which of the following?

Traditionally, a group underwriter creates a rate for which of the following?

A group insurance policy that offers individual rates saves money by reducing which of the following?

Applicants are rejected by underwriters for which reason?

Applicants are issued policies on a standard basis for which of the following reasons?

Applicants are issued policies on a substandard basis for which of the following reasons?

When is a policy no longer in need of underwriting?

Reviewing a client’s information on an annual basis is done for which of the following reasons?

In order to avoid intentional losses, the underwriter will try to establish which of the following?

Under property insurance, a insured client must meet which of the following requirements?

Which of the following is one of the four elements of a legal insurance contract?

States have placed regulations on property-casualty insurance in order to prevent which of the following?

Which of the following losses would not be insurable?

A pure risk must have the potential for which two results?

A definable loss is a loss that can be defined by which of the following?

Why are insurers not capable of covering losses that affect many people simultaneously?

Which of the following describes an occasion when intentional losses are insurable?

Underwriters may use which three broad methods to assign rates?

When an underwriter uses a predetermined rate found in a manual, they are using which rate assignment method?

Heavily regulated lines of insurance are most likely to use which of the following as their rate assignment method?

When a competitive market does not exist for some clients, what action does the state usually undertake?

Besides rates, underwriters can also require applicants to do which of the following?

How do group health insurance applications compare to individual health insurance options?

Which of the following is illegal to use as a factor in determining automobile insurance rates?

Professional liability and errors and omissions applications require what?

Inland marine personal property applications include more information about which of the following than other forms of insurance?

Ocean marine insurance is intended to cover which of the following?

Who fills out an APS for a health insurance applications?

Which of the following regulates credit and consumer reports?

Which of the following is NOT one of the three hazards discussed in this course?

Insurance regulations that address insurance rates are trying to establish which of the following?

Which of the following is NOT a method used by the states to set property and casualty rates?

What is the general term for transferring a portion or all of the insurance written by one insurer to another insurer?

Which of the following is true of treaty reinsurance?

Only one reinsurance option was discussed for disability income insurers, which of the following is that reinsurance type?

Which of the following current technological advancements looks like it will have a significant effect of discrimination laws?

How do applications for individual insurance policies compare to applications for group insurance policies?