OC1 - Module 8 - The Underwriting Function

oc1-module-8-the-underwriting-function

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8-For underwriting to achieve its purpose,

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8-The principal purpose of underwriting is to

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8-Sofie and the members of her homeowner's association have homeowner's policies on their coastal dwellings. They have heard that there are 11 named hurricane storms predicted for their coastal area this year. Sofie and the homeowner association members plan to increase their homeowner's property coverage limits to handle their concern about the possible hurricane damage. Their action is known as

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8-Tania receives an application for homeowner's insurance for a home valued at $500,000 from Patrick, the producer for Keithly Insurance Company. Since Tania's underwriting authority is $350,000 on property risks, she must refer it to Lachlan, her underwriting supervisor. Which one of the following additional functions for underwriting profitability does this case illustrate?

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8-A group of policies with a common characteristic, such as a territory or type of coverage, or all policies written by a particular insurer, producer, or agency is referred to as

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8-Underwriters can best minimize the effects of adverse selection by

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8-To achieve profitability, the underwriting function serves which one of the following additional purposes?

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8-Julio, a producer for Argot's Insurance Company, submits an application for a 50-year-old residence to Mathilde, the underwriter. Julio wants to know why the homeowners rate is higher for his 50-year-old residence. Mathilde explains that the homeowners rate for the 50-year-old residence is not the same for a five-year-old residence because the exposures are different. Which one of the following underwriting profitability functions of Argot is Mathilde's explanation supporting?

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8-Underwriting guidelines reflect the levels of

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8-The purpose of underwriting is to

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8-A situation that occurs because people with the greatest probability of loss are the ones likely to purchase insurance is known as

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8-Victor, the sales manager for Hallbinger's Insurance Company, wants the company to grow in written premium. He wants his agents to write more auto and homeowners business. In order to do so, the company must have adequate capacity. Which one of the following impacts Victor's agents and the company the most concerning surplus and capacity?

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8-Which one of the following is the term used to refer to a situation that occurs because people with the greatest probability of loss are the ones most likely to purchase insurance?

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8-Which one of the following tasks is the responsibility of a staff underwriter as opposed to a line underwriter?

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8-Staff underwriters share research of the market responsibilities with actuarial and marketing departments. Research includes an ongoing evaluation of which one of the following?

OC1 - Module 8 - The Underwriting Function

Question 1 of 1

Time Left

8-For underwriting to achieve its purpose,

Select the correct answer(s).

(0/0)

8-The principal purpose of underwriting is to

Select the correct answer(s).

(0/0)

Select the correct answer(s).

(0/0)

Select the correct answer(s).

(0/0)

8-A group of policies with a common characteristic, such as a territory or type of coverage, or all policies written by a particular insurer, producer, or agency is referred to as

Select the correct answer(s).

(0/0)

8-Underwriters can best minimize the effects of adverse selection by

Select the correct answer(s).

(0/0)

8-To achieve profitability, the underwriting function serves which one of the following additional purposes?

Select the correct answer(s).

(0/0)

Select the correct answer(s).

(0/0)

8-Underwriting guidelines reflect the levels of

Select the correct answer(s).

(0/0)

8-The purpose of underwriting is to

Select the correct answer(s).

(0/0)

8-A situation that occurs because people with the greatest probability of loss are the ones likely to purchase insurance is known as

Select the correct answer(s).

(0/0)

Select the correct answer(s).

(0/0)

8-Which one of the following is the term used to refer to a situation that occurs because people with the greatest probability of loss are the ones most likely to purchase insurance?

Select the correct answer(s).

(0/0)

8-Which one of the following tasks is the responsibility of a staff underwriter as opposed to a line underwriter?

Select the correct answer(s).

(0/0)

8-Staff underwriters share research of the market responsibilities with actuarial and marketing departments. Research includes an ongoing evaluation of which one of the following?

Select the correct answer(s).

(0/0)

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