Preview Questions Underwriter | Role Specific Skill

Question 1: How should an underwriter handle inconsistencies found during the policy review process?

Which action should you take?

Choose only one option

By immediately rejecting the policy

By adjusting premiums to account for the inconsistencies

By proceeding with the policy issuance to avoid delays

By conducting further investigations and requesting clarification from the applicant

Question 2: Which of the following is most important for an underwriter when assessing a disability claim under a life insurance policy?

Which action should you take?

Choose only one option

Verifying the extent of disability through medical documentation

The duration of the claim

The claimant's age and health history

The claimant's occupation and past work history

Question 3: When an underwriter communicates with a client who is purchasing a complex insurance product, how can they ensure clarity?

Which action should you take?

Choose only one option

Provide all the product information at once without simplifying complex terms

Break down the product details into simple, digestible parts, using analogies and examples relevant to the client's situation

Focus only on the product's benefits, ignoring potential limitations

Refer the client to written documentation without offering verbal clarification

Question 4: What should an underwriter do if they suspect an application is fraudulent under the insurance fraud regulation guidelines?

Which action should you take?

Choose only one option

Report the suspicion to the relevant regulatory body for further investigation

Proceed with the policy issuance to avoid delays

Wait for further instructions from the legal department

Reject the application immediately without investigation

Question 5: What is the primary risk associated with underwriting loans for high-risk industries, such as startups in volatile sectors?

Which action should you take?

Choose only one option

Regulatory compliance risk

Operational risk and market volatility

Reputation risk

Liquidity risk and interest rate fluctuations

Question 6: How should an underwriter handle a situation where a client insists on a policy that does not align with their needs?

Which action should you take?

Choose only one option

Politely explain the reasons why the suggested policy is not suitable and provide alternative options that better meet their needs

Ignore the client's concerns and proceed with the policy as requested

Agree to the client's request to avoid confrontation

Suggest another insurer without providing any explanation of the policy's flaws