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Questions MCQ Type) on Life Insurance - Underwriting

Question-MCQ-on-Life-Insurance-Underwriting.php

1. What does underwriters do in an Insurance company?

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2. Can a insurance company refuse to renew a policy?

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3. What are the factors considered by the Regulator while approving a rate?

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4. Major constrant for underwriting process is?

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5. What are the roles of an actuary in an insurance company?

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6. What is business intelligence?

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7. Explain a Bonus-Malus system:

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8. What ratio is used to determine the quality of business underwritten by an insurance company?

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9. Within how many days shall an insurer dispose of a claim after the receipt of the survey report?

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10. Explain Parameter Risk and Process Risk

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11. What is IBNR

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12. For File and Use guidelines, List of Life Insurance products needs to be catagorised under 5 catagories, name them:

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13. In what type of insurance, portability of the policy can be done?

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14. What is morbidity rate?

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15. What is the risk involved in prolonged working as a X-ray technician?

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16. Can a insurer popostpone acceptance of a risk?

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17. How numerical rating method works?

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18. Can a insurance Policy which has run for 3 years can be called into question by the Insurer?

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19. What is Mortality table?

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20. Who first introduced the Mortality Rate?

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21. What is the range of Age as a factor that is being used in a Mortality Table

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22. Who publish Mortality Tables in India?

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23. What is a standard life in insurance terminology?

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24. Can a person suffering from AIDS, denied an Insurance Policy?

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25. High blood pressure or obesity usually catagorised as "increasing extra risk", explain what is increasing extra risk?

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26. What is a lavel extra premium system?

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27. What will be the rating factors for a person with obesity and High blood pressure?

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28. What is the requirement of Board-approved Underwriting Policy?

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29. What are the steps involved in the numerical rating method?

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30. Explain the debit-credit system used in underwriting method in Insurance

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31. When an insurer will prefer to accept the risk with exclusions?

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32. What is declinature?

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33. Whan an insurance usually decline to issue a life insurance cover?

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34. Body Mass Index (BMI) provides information with regards to

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35. Major benefit of an accidental death benefit rider

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36. Difference between Natural Death and Accidental Death?

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37. Does a Life Insurance coverscovers disability?

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38. Death by Accident only - is the subject matter of which policy/policies

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39. Can a insurance company issue a back-dated life policy

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40. To entertain a Smoker in the Preferred Life Category, he need to quit smoking for how many years?

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41. To entertain an alcohol or illegal drugs abuser in the Preferred Life Category, he need to quit alcohol/illegal drugs for how many years?

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42. When a Non-Medical Grid is applied in insurance underwriting?

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43. What is Medical-Sum-At-Risk?

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44. A drill down reflexive questions during a Tele-Inverview may help in dispense with requirement of Medical Test in Life insurance, explain

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45. Explain Underwriting Rules Engines

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46. Explain Jet Unit Underwriting Method:

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47. Can my Insurance company insist of DNA test?

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48. Who are Third Party Administrator or TPA?

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49. Why insurer do financial underwriting of an Insurance proposal?

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50. Can children buy insurance plan for their parents?

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51. What are the factors, that need to be considered for calculating Human Life Value (H.L.V.)?

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52. What is Human Life Value (HLV) in life insurance?

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53. What are the three methods used in determining HLV (Human Life Value)

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54. Suggest an appropriate method to calculate the sum to be insured for insuring the life of a spouse with no earned income

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55. Identify the situation which suggest considerable chances of Moral Hazard

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56. In what circumstances, an APS (Attending Physicians's Statement) is asked for?

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57. One of the check that underwriters do is to check the medical data of the proposer from external sources like from other insurer. Where from such data is collected by an insurance company?

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58. Which type of general aviation is considered to have the highest percentage of fatal accidents ?

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59. What are the primary sources of information, Life insurer use to evalulate the risk assciated with a person seeking life insurance?

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60. What is co-insurance

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61. What are various Insurance Pool available in India?

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62. What is a vascular disorder?

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63. What is the ideal weight of the average human brain?

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64. Which one of the following fluid is responsible for safeguarding the brain from any kind of shock ?

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65. In the context of brain imaging, what does FMRI stand for?

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66. Can an Insurer force me to do a HIV test?

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67. Can insurer denly an insurance policy to a HIV positive person?

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68. Which visual acuity is considered as normal

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69. What would be the basic source for a proposer for getting comparative analysis of wide range of insurance product, that may help him in selecting right

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70. Who are generally referred to as the - Eyes of the Underwriter?

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71. Explain the asymmetry of information:

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72. Who is internal customer?

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73. In whar type of Pension Scheme, the pension amount is known before-hand and does not effect due to volatility in the market?

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