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NextGen Underwriting Quiz

Authored by Ananya Chhabra

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Professional Development

Used 1+ times

NextGen Underwriting Quiz
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15 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary objective of underwriting in insurance?

Maximising policy sales

Assessing and selecting risks appropriately

Minimising customer queries

Marketing insurance products

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In the underwriting process, what is a 'moral hazard'?

The risk of natural disasters

The likelihood of claims due to economic downturn

The risk arising from the behaviour of the insured

A legal requirement for risk disclosure

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Underwriters only assess new policies and have no role in policy renewals

True

False

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Reinsurance can help insurers manage high-risk or large-value underwriting exposures

True

False

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Underwriting decisions must always be objective, consistent, and evidence-based

True

False

6.

FILL IN THE BLANK QUESTION

1 min • 1 pt

An underwriter may decline a risk, accept it as is, or _______ the terms to make it acceptable.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the main purpose of the underwriting process?

To sell as many insurance policies as possible

To improve marketing campaigns

To decide what risks to accept and under what terms

To increase premiums for all customers

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