In this method of underwriting, the underwriter gives rating points for all the negative or adverse factors, totals them and decides extra mortality rating. Which method are we talking about?

A Biometric rating
B Judgmental rating
C Clinical rating
D Numerical rating

Correct Answer: Numerical rating

Numerical rating system is underwriting method used in classifying applicants for life insurance according to certain demographic factors and assigning weights to these factors. Factors include physical condition, build, family history, personal history, habits, and morals.
Bissoy MCQ
#Commerce #Insurance

Related Questions

Under what method of underwriting does an underwriter assign positive rating points for all negative or adverse factors (negative points for any positive or favourable factors)?
A Judgment
B Arbitrary
C Numerical rating
D Single step
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A Development officer
B Insured
C Agent
D Insurer
Under risk classification, _________ consist of those whose anticipated mortality corresponds to the standard lives represented by the mortality table.
A Standard lives
B Preferred risks
C Sub-standard lives
D Declined lives
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A 1/4
B 4/15
C 1/3
D 4/11
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A Income
B Occupation
C Lifestyle/habits
D All of the above
Two circular dials of exactly the same size are mounted on a wall side by side in such a way that their perimeters touch at one point. Dial 1, which is on the left , spins clockwise around its center , and dial 2 , which is on the right spins counter clockwise around its center . (Assume that there is no friction at the point of contact between the dials.) Each dial is marked on its perimeter at three points that are at equale distances around the points arked ondial 1 are N, O, and P and the points marked on dial 2 are X, Y, and Z. If points O and Z are just meeting at the point of contact between the dials , and if dial 1 spins at the same speed as dial 2, what is the smallest number of revolutions of each dial that will bring O and Z together again?
A 1
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C 3
D 4
_________ method of underwriting is suitable while deciding a complex case, e.g. whether to give insurance to someone who has acute diabetes.
A Instrumental
B Panelling
C Non-medical
D Judgmental
Which of the following companies is the largest no-life insurance underwriter in Bangladesh terms of gross premium, network of offices and trained manpower?
A Jibon Bima Corporation
B Sadharan Bima Corporatioon
C Prime Insurance Company
D Rupali Insurance Company Ltd.
Which of the following denotes the underwriter’s role in an insurance company?
A Process claims
B Decide acceptability of risks
C Product design architect
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Amrita is pregnant. She has applied for a term insurance cover. WHICH of the below option will be the best option to choose for an underwriter to offer insurance to Amrita? Choose the most likely option.
A Acceptance at ordinary
B Acceptance with extra premium
C Decline the proposal
D Acceptance with a restrictive clause

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