Chapter 3 Quiz Flashcards
(7 cards)
1
Q
MIB
A
A government entity information bureau
2
Q
A substandard risk compares to a standard risk would pay
A
Higher premium
3
Q
Which of the following documents describes specific information about policy provision and benefits
A
Policy summary
4
Q
Which of the following would be the main source of underwriting information used by the company in the risk selection process
A
Application
5
Q
Which of the following would be the main source of underwriting information used by the company in the risk selection process
A
Application
6
Q
What is the main responsibility of a company underwriting unit
A
Risk selection and classification
7
Q
If the agent feel that there could be misrepresentation on the part of the applicant for insurance what must the agent do
A
Inform the insurance company
