The Process Used by an Insurance Company to Determine Whom

question 11

Multiple Choice

The process used by an insurance company to determine whom to insure and how much to charge is called ______.

• A) a premium
• B) an insuring agreement
• C) underwriting
• D) indemnity

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Definitions:

Traditional SDLC

The Standard Software Development Life Cycle, a systematic process used for the planning, creation, testing, and deployment of software applications.

Outsourcing

The practice of hiring third parties to perform services or create goods that traditionally were performed in-house by the company's own employees and staff.

Offshoring

The practice of relocating a company's business process, such as manufacturing or services, to another country, often to reduce costs.

Insource

The practice of assigning tasks or projects to individuals or departments within a company rather than to external entities.