CPCU 410 Module 2 Test Bank

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1. The first step in the underwriting process is:

2. Principal sources of underwriting information include all of the following, EXCEPT:

3. Which one of the following statements is correct regarding the “Evaluate the Submission” step of the underwriting process?

4. Which one of the following represents a rating agency that provides data on credit ratings of businesses?

5. During which phase of the underwriting process would an underwriter consider whether to accept a submission as is, reject the submission, or accept the submission subject to modification?

6. Servo Corporation was recently denied commercial property insurance coverage due to a lack of an automatic fire-extinguishing sprinkler system in their building. The insurance company indicated that the application would be approved by the underwriter if Servo installs the sprinklers. Which of the following represents the type of underwriting modification proposed by the insurance company?

7. Which one of the following typically represents the first step of the claim handling process?

8. Which one of the following statements is correct regarding acknowledging and assigning a claim?

9. If a question of coverage has arisen under an insured’s policy, the most appropriate alternative for an insurer is to:

10. Which one of the following statements is correct regarding claim investigations?