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Which of the following statements about underwriting standards is (are) true?
I.One purpose of underwriting standards is to reduce adverse selection against the insurer.
II.Equitable rates should be charged so that each group of policyowners pays its own way in terms of losses and expenses.
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An agreement in which a debtor agrees to pay a debt even though it could have been discharged in bankruptcy.
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Released from liability; term applied to negotiable instrument liability that has terminated.
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