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AU 60 FINAL EXAM ACTUAL EXAM 2 VERSIONS AND PRACTICE QUESTIONS EXAM COMPLETE 600 QUESTIONS WITH DETAILED VERIFIED ANSWERS (100% CORRECT ANSWERS) /ALREADY GRADED A+$17.99
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AU 60 FINAL EXAM ACTUAL EXAM 2 VERSIONS AND PRACTICE QUESTIONS EXAM COMPLETE 600 QUESTIONS WITH DETAILED VERIFIED ANSWERS (100% CORRECT ANSWERS) /ALREADY GRADED A+
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Cardiorespiratory and Motor Coordination
AU 60 FINAL EXAM ACTUAL EXAM 2 VERSIONS AND PRACTICE QUESTIONS EXAM COMPLETE 600 QUESTIONS WITH DETAILED VERIFIED ANSWERS (100% CORRECT ANSWERS) /ALREADY GRADED A+
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AU 60 FINAL EXAM ACTUAL EXAM 2 VERSIONS AND
PRACTICE QUESTIONS EXAM COMPLETE 600
QUESTIONS WITH DETAILED VERIFIED ANSWERS (100%
CORRECT ANSWERS) /ALREADY GRADED A+
To achieve profitability, the underwriting function serves which one of the following
additional purposes? - ANSWER: C. Guarding against adverse selection
Which one of the following will draft a manuscript policy or endorsement that is
worded to address the specific needs of the insured - ANSWER: Line underwriter
Depending on the type of insurance, insurers use automated underwriting systems
to - ANSWER: Encode underwriting guidelines.
Specialty insurers such as those offering surety bonds, aviation insurance, and
livestock mortality insurance usually - ANSWER: Centralize underwriting authority.
All of the following statements are true regarding the factors affecting the formation
of an insurer's underwriting policy, EXCEPT: - ANSWER: The higher an insurer's
premium-to-surplus ratio, the greater its ability to expand premium writings.v
Argot Stock Insurance Company's (Argot) net income is $1,000,000 and its average
owners' equity is $16,500,000. Argot's average policyholders' surplus is $20,000,000.
Using the GAAP approach, which one of the following is Argot's return on equity? -
ANSWER: Argot's return on equity using the GAAP approach is 6 percent, determined
by net income ($1,000,000) divided by average owners' equity ($16,500,000).
Which one of the following is determined by a company's underwriting policy? -
ANSWER: Composition of the insurer's book of business
A rating plan available to commercial insurance applicants that awards debits and
credits to a submission based on specific categories is known as a(n) - ANSWER:
Schedule rating plan.
An underwriter is working with a loss control representative on a new opportunity.
Given the complexity of the exposures, a physical survey is conducted by the loss
control representative, and a formal report is prepared. The report reveals that the
insured owns several unattended properties, and that they were unlocked when the
loss control representative conducted the survey. This failure to properly secure an
unattended building would be an indicator to the underwriter of which one of the
following types of hazard? - ANSWER: Morale
Which one of the following is a financial measure of underwriting performance? -
ANSWER: Combined ratio
, Which one of the following statements is correct regarding nonfinancial measures of
underwriting results? - ANSWER: Selection standards for underwriters usually
support overall underwriting goals and are evaluated during audits.
Which one of the following statements is correct with respect to market conduct
examinations? - ANSWER: They protect both insurers and consumers from unfair
insurer practices.
Emma is a workers compensation underwriter. She has been advised that one of her
insureds is expanding its operations, and she is not sure how to classify the new
payroll. Which one of the following of her fellow employees should Emma go to for
help? - ANSWER: Premium auditor
Wrap-ups do not usually include which one of the following coverages? - ANSWER:
Auto
Which one of the following statements is true regarding additional insureds? -
ANSWER: Additional insured endorsements restrict coverage to those claims arising
out of the named insureds operations.
Which one of the following factors about an employers' compensation program
could indicate that the insurer is receiving a lower premium relative to the exposure
assumed? - ANSWER: Low Wages
The report of management is a report to the users of financial statements, required
as part of the company annual report. Which one of the following is true regarding
this report? - ANSWER: The chairman of the board signs it acknowledging the
integrity of the report.
An underwriter is attempting to conduct ratio analysis on a company. The
underwriter notices that the company has $3 million in total assets, $1 million in
current assets, $2 million in total liabilities, and $1 million in current liabilities. Which
one of the following conclusions can the underwriter reach by calculating the
company's debt-to-assets ratio? - ANSWER: Debt-to-assets ratio = Total liabilities ÷
total assets. $2 million ÷ $3 million = .667. A ration over .5 indicates financing mostly
by debt. The company's assets are financed mostly through debt.
In financial statement analysis, leverage ratios measure which one of the following? -
ANSWER: The extent to which a company has borrowed money
Which one of the following is an example of a liquidity ratio? - ANSWER: Acid-test
ratio
Which one of the following statements is true? - ANSWER: If a nonfinancial company
has a debt-to-equity ratio greater than 100 percent, it indicates that the company is
financed mostly by debt.
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