Principles of Risk Management and Insurance, 11e (Rejda)
Chapter 6 Insurance Company Operations
1) The function of an actuary is to
A) adjust claims.
B) determine premium rates.
C) negotiate reinsurance treaties.
D) invest insurance company asts.
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Answer: B
Question Status: Previous Edition
2) Insurers obtain data which can be ud to determine rates from
A) pricing pools.
B) insurance advisory organizations.
C) banks.
D) reciprocal exchanges.
Answer: B
Question Status: Previous Edition
3) Which of the following statements about underwriting policy is (are) true?
I. A company must establish an underwriting policy consistent with company objectives.
II. Underwriting policy is usually subjective and allows the underwriter considerable flexibility with respect to lines written and forms ud.
A) I only
B) II only
上海医药工业研究院C) both I and II
D) neither I nor II
Answer: A
Question Status: Previous Edition
4) Which of the following statements about underwriting standards is (are) true?
I. One purpo of underwriting standards is to reduce adver lection against the insurer.
II. Equitable rates should be charged so that each group of policyowners pays its own way in terms of loss and expens.
A) I only
B) II only
C) bothI and II
D) neither I nor II
Answer: C
Question Status: Revid
5) The underwriting process begins with the
A) agent.
B) desk underwriter.
C) inspection report.
尔你我诈D) acceptance of the application.
Answer: A
Question Status: Previous Edition
6) Common sources of underwriting information for life and health insurance include all of the following EXCEPT
A) the application.
B) a physical examination.
查乳房挂什么科C) the Medical Information Bureau.
D) the applicant's income tax return.
Answer: D
Question Status: Previous Edition
7) If an underwriter suspects moral hazard, the underwriter may ask an outside firm to investigate the applicant and make a detailed report to the insurer. This report is called a(n)
A) inspection report.
B) application.
C) M.I.B. report.
D) agent's report.
Answer: A
Question Status: Previous Edition
8) One source of life and health insurance underwriting information is an organization that life and health insurance companies can join. As a member, life and health insurance companies report health impairments of applicants, and this information is shared with member companies. Although the information is shared, the underwriting decision of the member company is not disclod. What is this organization called?
投标者A) Fair Isaac Corporation (FICO)
见仁见智B) Medical Information Bureau (MIB)励的组词
C) National Association of Insurance Commissioners (NAIC)
D) National Association of Mutual Insurance Companies (NAMIC)
Answer: B三严三实教育
Question Status: Previous Edition
9) Factors that may result in more restrictive underwriting decisions include which of the following?
I. Inadequate rates.
II. The unavailability of reinsurance at favorable terms.
A) I only
B) II only
C) both I and II
D) neither I nor II
Answer: C
Question Status: Previous Edition
10) All of the following are functions of the marketing department of an insurance company EXCEPT
A) to adverti the insurer's products.
B) to develop new products.
C) to identify production goals.
D) to make final underwriting decisions.
Answer: D
Question Status: Previous Edition
11) Which of the following statements about claim ttlement is (are) true?
I. The fair payment of claims requires an insurer to adopt a very liberal claims policy.
II. To prevent lawsuits, an insurer should provide no personal assistance to a claimant other than that which is required by contractual obligations.
A) I only
B) II only
C) both I and II
D) neither I nor II
Answer: D
Question Status: Previous Edition
12) All of the following statements about claims ttlement are true EXCEPT
A) Agents may have the authority to ttle claims.
B) Independent adjustors may be ud in a geographic area where the volume of business is too low for an insurer to have its own adjustors.
C) Company adjustors are salaried employees who work for one insurer.
D) A public adjustor is usually paid a flat fee regardless of the size of a claim.
Answer: D
Question Status: Revid
13) Which of the following statements about adjustment bureaus is (are) true?
