The Underwriting Function Is Designed to Be Sure That Premiums

question 41

Multiple Choice

The underwriting function is designed to be sure that premiums are based on

• A)income levels.
• B)the value of the loss.
• C)the value of the gain.
• D)the chance of loss.
• E)expense levels.

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Definitions:

Person-situation Controversy

A debate within psychology about whether behavior is more influenced by personality traits or situational factors.

Gene-environment Interaction

The complex interplay between genetic predispositions and environmental factors that affect an individual's traits and behaviors.

Internalized Standards

Personal norms and beliefs that are adopted from society and influence one's behavior and thinking.

Self-esteem

One's subjective evaluation of their own worth or the degree to which they value themselves.