Study 8 – Applications for Automobile Insurance; Underwriting Flashcards

1
Q

“Intelligent underwriting” computer programs would handle

a. risk selection process by “flagging”
b. the creation of extensions and endorsements
c. the issuing of policies
d. the calculation of reinsurance net account

A

a. risk selection process by “flagging”

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2
Q

With respect to the Ontario Application for Automobile Insurance, the applicant’s
name and postal address are obtained, for the purposes of:

a. identifying the person insured as the registered owner of the vehicle
b. provides the information used for rating
c. is helpful in obtaining an abstract of the driver’s driving records
d. all of the above

A

d. all of the above

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3
Q

The compulsory basic automobile insurance is purchased

a. at the time the licence plate is purchased
b. on the issuance or renewal of the driver’s licence
c. on the usual purchase and renewal of vehicle licence plate and the driver’s licence
d. on the annual renewal date of the driver’s licence

A

a. at the time the licence plate is purchased

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4
Q

What warning must be conspicuously printed on every application and policy?

a. the insurance is subject to cancellation by the insured
b. the insurance is subject to the Automobile Act of the province
c. the insurance is not subject to any limitations other than stated in the policy
d. the insurance claim would be invalidated if misrepresentation is found

A

d. the insurance claim would be invalidated if misrepresentation is found

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5
Q

An underwriting manual might NOT include:

a. an acceptance/rejection list
b. “underwriter only” acceptance list
c. extensions and endorsements
d. none of the above

A

b. “underwriter only” acceptance list

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6
Q

The unique identification for the described automobile in the application is:

a. the vehicle identification or serial number
b. the vehicle manufacturer’s
identification or serial number
c. the vehicle owner’s driver’s number
d. the vehicle dealer’s identification or serial number

A

a. the vehicle identification or serial number

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7
Q

Which of the following serves as the policy number in British Columbia

a. motor vehicle’s VIN number
b. licence plate number
c. driver’s licence number
d. owner’s vehicle registration number

A

b. licence plate number

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