AU
60
/
Practice
/
Test
/
Attempt
/
#1 Exam Questions With Correct Answers
/ / / / / /
The /overarching /purpose /of /underwriting /is: /- /verified /answer(s)-
✔✔To /develop /and /maintain /a /profitable /book /of /business.
An
/underwriter
/receives /
a
/renewal
/application
/for /
a
/property
/quote
/from
/his
/producer.
/The
/applicant
/has
/had /
a
/series
/of
,/small
/losses
/in
/the
/recent /past. /The /underwriter /is /debating /whether /to /reject /the /submission /or /quote /it /with /a
/property
/deductible
/of
/$5,000.
/During
/which
/one
/of
/the
/following
/steps /in /the /underwriting /process /is /the /underwriter /involved? /- /verified /answer(s)-
✔✔Developing /underwriting /alternatives.
An
/insurance
/company
/needs
/to
/hire
/an
/employee
/with
/knowledge
/of
/insurance
/policy
/forms
/and
/the
/ability
/to
/relate
, /policy
/provisions
/to
/the
/loss
/exposures
/of
/individual
/policyholders.
/The
/person
/will
/also
/prepare
/premium
/quotes
/and
/process
/cancellations.
/Which
/one /of /the /following /employees /would /best /suit /the /company's /needs? /- /verified /answer(s)-
✔✔Line /underwriter.
Which
/one
/of /the /following /is /a /financial /measure /of /underwriting /performance? /- /verified /answer(s)-
✔✔Combined /ratio.
Underwriting
/regulations /seek /to /ensure /correct /classification /of /insureds /because: /- /verified /answer(s)-
✔✔Misclassification /can /result /in /inadequate /premiums /and /drain /an /insurer's /surplus.
Specialty
/insurers
/such
60
/
Practice
/
Test
/
Attempt
/
#1 Exam Questions With Correct Answers
/ / / / / /
The /overarching /purpose /of /underwriting /is: /- /verified /answer(s)-
✔✔To /develop /and /maintain /a /profitable /book /of /business.
An
/underwriter
/receives /
a
/renewal
/application
/for /
a
/property
/quote
/from
/his
/producer.
/The
/applicant
/has
/had /
a
/series
/of
,/small
/losses
/in
/the
/recent /past. /The /underwriter /is /debating /whether /to /reject /the /submission /or /quote /it /with /a
/property
/deductible
/of
/$5,000.
/During
/which
/one
/of
/the
/following
/steps /in /the /underwriting /process /is /the /underwriter /involved? /- /verified /answer(s)-
✔✔Developing /underwriting /alternatives.
An
/insurance
/company
/needs
/to
/hire
/an
/employee
/with
/knowledge
/of
/insurance
/policy
/forms
/and
/the
/ability
/to
/relate
, /policy
/provisions
/to
/the
/loss
/exposures
/of
/individual
/policyholders.
/The
/person
/will
/also
/prepare
/premium
/quotes
/and
/process
/cancellations.
/Which
/one /of /the /following /employees /would /best /suit /the /company's /needs? /- /verified /answer(s)-
✔✔Line /underwriter.
Which
/one
/of /the /following /is /a /financial /measure /of /underwriting /performance? /- /verified /answer(s)-
✔✔Combined /ratio.
Underwriting
/regulations /seek /to /ensure /correct /classification /of /insureds /because: /- /verified /answer(s)-
✔✔Misclassification /can /result /in /inadequate /premiums /and /drain /an /insurer's /surplus.
Specialty
/insurers
/such
