1. Which of the following statements concerning insurance underwriting is (are) correct? I. Underwriting is the...
1. Which of the following statements concerning insurance underwriting is (are) correct?
I. Underwriting is the selection and pricing of insurance applications that are offered to an insurer.
II. Underwriting attempts to avoid adverse selection by individuals who purchase insurance.
A I only
B. II only
C. Both I and II
D. Neither I nor II
2. Which of the following statements concerning modified endowment contracts (MECs) is (are) correct?
I. Any policy that is paid up prior to age 65 qualifies as a MEC.
II. A penalty tax applies to withdrawals from a MEC by a person under age 59
A. I only
B. II only
C. Both I and II
D. Neither I nor II
Homework Answers
answer..
1.
the correct option is c.
i.e both
2.
correct option is a.
i only
if u like this plzz rate this answer.
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