LLQP (Life Licence Qualification Program) Practice Exam · Question
In the insurance industry, what does 'underwriting' refer to?
Underwriting is the process of evaluating the risk of an applicant to decide whether to issue the policy and at what price (premium).
Start free practice for LLQP (Life Licence Qualification Program) Practice Exam
374 questions · no signup required · 40 free questions per day
Question: In the insurance industry, what does 'underwriting' refer to?
Answer options:
- The process of selling a policy to a client.
- The process of auditing an insurance agent's books. ✅ The process of evaluating a risk to determine insurability and premium.
- The process of paying out a death benefit.
Correct answer: The process of evaluating a risk to determine insurability and premium.
Explanation: Underwriting is the process of evaluating the risk of an applicant to decide whether to issue the policy and at what price (premium).
Start free practice for LLQP (Life Licence Qualification Program) Practice Exam
374 questions · no signup required · 40 free questions per day
More about LLQP (Life Licence Qualification Program) Practice Exam
Related Questions
- A life insurance policy that offers lifelong coverage, a guaranteed death benefit, and a savings component tha
- Group benefits in Canada commonly include:
- Sarah, a 35-year-old marketing professional in Ontario, purchases a participating whole life insurance policy
- Mark, a 45-year-old business owner in British Columbia, has a Universal Life policy with a Level Cost of Insur
- A personal non-registered permanent life insurance policy on Liam, a 40-year-old engineer in Montreal, has acc
- Universal life is:
More for LLQP (Life Licence Qualification Program) Practice Exam candidates
Study guides
Question explanations
- A life insurance policy that offers lifelong coverage, a guaranteed death benefit, and a savings component tha
- Group benefits in Canada commonly include:
- Sarah, a 35-year-old marketing professional in Ontario, purchases a participating whole life insurance policy
- Mark, a 45-year-old business owner in British Columbia, has a Universal Life policy with a Level Cost of Insur
Ready to practice?
Free, no signup required. Build a wrong-question list as you go.
Start Free LLQP (Life Licence Qualification Program) Practice Exam Practice →Related courses
Other Canadian certifications candidates often prepare for alongside this one.