Which of the Following Is True of Insurance Underwriting

question 76

Multiple Choice

Which of the following is true of insurance underwriting?

• A)Insurance underwriting is any activity that reduces the chance that a loss will occur.
• B)Insurance underwriting is a process used to avoid an act that would create a risk.
• C)Insurance underwriting is a process that helps insurers determine the insurance needs of the potential insured.
• D)Insurance underwriting is any activity that lessens the severity of loss once it occurs.
• E)Underwriters design rate classification schedules so that people pay premiums that reflect their chance of loss.

Comprehend the primary responsibilities for health and safety in the workplace.

Distinguish between workers with full and limited rights to refuse unsafe work.

Learn the goals and expectations of workers' compensation and health and safety committees.

Understand the impact of work schedules on employee fatigue and the outcomes of effective health programs.

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Definitions:

WTO

The World Trade Organization, an international body that regulates and facilitates international trade between nations.

International Organization

An entity operating across national borders, typically with a mission focused on policy, commerce, or humanitarian efforts on a global scale.

Trade Among Participating Countries

The exchange of goods, services, and capital between countries, often facilitated by agreements to reduce tariffs and trade barriers.

Environmental Scanning

Involves the process of collecting, analyzing, and using information about the external environment to aid in strategic planning.