Which of the Following Statements About Group Insurance Underwriting Principles

question 22

Multiple Choice

Which of the following statements about group insurance underwriting principles is (are) true?
I.If a plan is contributory,100 percent of the eligible employees must be covered.
II.Employees should be allowed to determine their own level of benefits.

• A)I only
• B)II only
• C)both I and II
• D)neither I nor II

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Definitions:

Proper Quality

refers to the standard of goods or services that meets the expectations and requirements set by regulatory bodies, industry standards, or customer expectations.

Merchants

Individuals or businesses engaged in the sale of goods and services, especially in the retail sector.

Lemon-Law

Consumer protection laws that provide a remedy for purchasers of cars and other consumer goods that fail to meet standards of quality and performance.

Standards of Quality

Established benchmarks that define the specific requirements, specifications, and guidelines to ensure that materials, products, processes, and services are fit for their purpose.