If Insurers Didn't Practice Underwriting,what Would Happen

question 72

Multiple Choice

If insurers didn't practice underwriting,what would happen?

• A)They would save a lot of time and money by not asking all those nosey questions
• B)They would make a handsome profit since they would get to sell a lot of insurance to a lot of people
• C)The insurance mechanism would become unfeasible
• D)The insurance mechanism would become the largest money making venture in the United States

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Definitions:

U.S. Dollars

The legal currency of the United States, widely used as a standard of value and medium of exchange internationally.

Increased Demand

A situation where the quantity of a product or service that consumers are willing and able to buy at a given price rises.

European Union

A political and economic union of 27 member states located primarily in Europe, aiming to facilitate free movement of goods, services, and people.

U.S. Products

Goods and services that are produced, manufactured, or assembled within the United States.