Underwriting Might Best Be Defined As

question 6

Multiple Choice

Underwriting might best be defined as:

• A)The process of taking other people's money under the table and writing it off as a business expense
• B)The selection of insureds and the pricing of insurance for each insured
• C)The determination of coverage after an insured has a claim
• D)The process of determining whether an insurance company wishes to sell a particular type of insurance coverage

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Definitions:

Taste-For-Discrimination Model

A theoretical model that explains how discrimination can affect economic decisions and outcomes by assuming some agents have a 'taste' or preference for discriminating against certain groups.

Wages

Compensation given to employees for their work, often determined by the hour, day, or by the amount of work completed.

Labor Force

The labor force comprises all the working-age population that is either employed or actively seeking employment.

Discrimination

Unjust or prejudicial treatment of different categories of people, especially on the grounds of race, age, or sex.