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Which of the following statements is incorrect regarding the Role of Underwriting?

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Important Questions on Introduction to Indian Insurance Sector

MEDIUM
Test of General Awareness>Insurance Awareness>Introduction to Indian Insurance Sector>Underwriting
How long does it take an underwriter to approve life insurance? 
EASY
Test of General Awareness>Insurance Awareness>Introduction to Indian Insurance Sector>Underwriting
Underwriting is the process by which an individual or institution assumes _____ in exchange for a fee.
MEDIUM
Test of General Awareness>Insurance Awareness>Introduction to Indian Insurance Sector>Underwriting
Which of the following acts regulates the underwriting process in India?
EASY
Test of General Awareness>Insurance Awareness>Introduction to Indian Insurance Sector>Underwriting
Through the ______________ process, investment banks raise funds from investors on behalf of companies and governments.
EASY
Test of General Awareness>Insurance Awareness>Introduction to Indian Insurance Sector>Underwriting
Underwriting is the process of selecting subjects for _____in such a way that overall company objectives are met.
HARD
Test of General Awareness>Insurance Awareness>Introduction to Indian Insurance Sector>Underwriting

What is the basis of group underwriting?

A. Demographics.
B. Individual Insurability.
C. Past losses.

MEDIUM
Test of General Awareness>Insurance Awareness>Introduction to Indian Insurance Sector>Underwriting
_______________ is the name given to the process of assessing your life insurance application?
MEDIUM
Test of General Awareness>Insurance Awareness>Introduction to Indian Insurance Sector>Underwriting
What is the limit of the commission set for Underwriting in India? 
EASY
Test of General Awareness>Insurance Awareness>Introduction to Indian Insurance Sector>Underwriting
Which of the following is not an objective of undewriting?
HARD
Test of General Awareness>Insurance Awareness>Introduction to Indian Insurance Sector>Underwriting
Which stage of the Process of Life Insurance Underwriting evaluates the risk for underwriting?
EASY
Test of General Awareness>Insurance Awareness>Introduction to Indian Insurance Sector>Underwriting
_______ is a portion of the larger mortgage origination process that a lender employs to evaluate if the risk of issuing a mortgage loan to a specific borrower is acceptable.
EASY
Test of General Awareness>Insurance Awareness>Introduction to Indian Insurance Sector>Underwriting
How many types of underwriting are there?
HARD
Test of General Awareness>Insurance Awareness>Introduction to Indian Insurance Sector>Underwriting
Which of the following is not a Principle of Underwriting in Insurance?
MEDIUM
Test of General Awareness>Insurance Awareness>Introduction to Indian Insurance Sector>Underwriting
What is meant by 'Underwriting', the term frequently used in the financial sector?
MEDIUM
Test of General Awareness>Insurance Awareness>Introduction to Indian Insurance Sector>Underwriting
Which of the following clearly define the Syndicate Underwriting?
MEDIUM
Test of General Awareness>Insurance Awareness>Introduction to Indian Insurance Sector>Underwriting
When debentures are redeemed ------ Account is debited?
EASY
Test of General Awareness>Insurance Awareness>Introduction to Indian Insurance Sector>Underwriting
Cotyledons are also called-
MEDIUM
Test of General Awareness>Insurance Awareness>Introduction to Indian Insurance Sector>Underwriting
To work as an underwriter in India a certificate of registration must be obtained from which of the following institutions?
HARD
Test of General Awareness>Insurance Awareness>Introduction to Indian Insurance Sector>Underwriting
Which of the following does not form a part of the Process of Life Insurance Underwriting?
EASY
Test of General Awareness>Insurance Awareness>Introduction to Indian Insurance Sector>Underwriting

Consider the following statements about insurance underwriting:

I. Individuals or corporations transfer their risks to an insurer, who charges a fee in exchange for providing financial help in the event of a loss.

II. In the insurance industry, underwriting entails evaluating the factors that determine a potential customer's risk profile.

Which of the given statement(s) is/are incorrect?