Underwriting Study guides, Class notes & Summaries

This document contains workings, explanations and solutions to the ISR3702 Assignment 2 (QUALITY ANSWERS) Semester 1 2024. For assistance call or us on 0.6.8..8.1.2..0.9.3.4..... Question 1 (50 marks) Bantu Life Insurance Company received the following life insurance proposal from Chief Mlaudzi, who indicated that, because he lacked the necessary knowledge about life policies, the underwriter should select an appropriate policy for each person: 1.1 Indicate an appropriate life policy or polici...

Under which situation must insurable interest exist between the applicant and insured at the time of application? - When a third-party applicant names themselves beneficiary. Which of the following is true about a decreasing term life policy? - The face amount reaches zero at policy expiration. Which of the following occurs immediately after the application is submitted and the initial premium paid? - The underwriting process begins For an individual long-term care policy there is an annua...

AINS 101 Exam Questions and Answers 2024 Bill is an insurance producer for and employed by ABC Insurance Company (ABC). He represents only ABC when marketing insurance products, and uses an administrative staff also employed by ABC. Bill is a producer in the - ANS ️️ Direct writer marketing system Because the insurance company usually determines policy wording and the insured has little choice but to "take it or leave it," an insurance contract is a - ANS ️️ Contract of adhesion ...

The most common method of risk management is: A. The sharing of risk B. The assumption of risk C. The transfer of risk D. Risk avoidance - Answer- C. The transfer of risk Which of the following types of risk is associated with change is not insurable? A. Fundamental risk B. Particular risk C. Dynamic risk D. Static risk - Answer- C. Dynamic risk Insurers are able to calculate their probable losses and to establish the rates for premiums that will cover losses and operating expe...

lesson 7 life insurance underwriting and policy issue Exam

CIP - C120 Underwriting Essentials Latest Update Already Passed Definition #1 An underwriter is an insurance professional employed to accept or reject risk on behalf of an insurer Definition #2 An underwriter is an investor of shareholder capital Definition #3 An underwriter is an insurance professional employed to implement an insurer's strategic plan Complete Definition An underwriter is an insurance professional who invests the capital of an insurer's shareholders by accepti...

Which of the following is not permitted in a contract lawsuit? a. Liquidated damages b. Actual damages c. Specific performance d. Punitive damages d. Punitive damages A non-conforming loan fails to meet whose underwriting standards? a. The primary lender b. The provider of the mortgagee title policy c. Fannie Mae d. The PMI insurer c. Fannie Mae What is the major diff

1. All of the following classes of drugs are used to control angina except: 1. Calcium channel blockers 2. Nitrates 3. Beta Blockers 4. Statins - 1 1. An example of a "rescue" inhaler or short-acting inhaler is : 1. Steroid inhaler 2. Nasal spray 3. Albuterol 4. Nebulizer - 3 1. Cholesterol is present in blood in a number of physiologically different lipid particles 1. HDL 2. ADL 3. LDL 4. VLDL - 2 1. Procedures used to identify coronary artery disease include all of the followi...