Underwriting Practice Exam
Underwriting Practice Exam Questions
Many industries in the financial world rely on underwriters, including the mortgage industry, insurance industry, equity markets, and some typical types of debt security trading. A book runner is a term used to describe someone who works as a primary underwriter.
Depending on the business in which they operate, today's underwriters take on a range of duties. Underwriters are responsible for determining the level of risk associated with a transaction or other business activity. The probability that a result or investment's real gains will differ from the predicted outcome or return is known as risk.
Skills Acquired
- Advance Computer Knowledge
- Analytical skills
- Verbal Communication
- Critical Decision Making
- Ability to complete and comprehend the difficult tasks
Who should take the exam?
The exam is suitable for candidates who want to work in the insurance or underwriting departments of various companies. This qualification will strengthen your CV by emphasising your dedication to the profession, demonstrating your abilities, and making you stand out from the crowd.
Roles and Responsibilities
- Conduct a data analysis of information obtained from hard money loan applications.
- Following a visit with clients, consult with loan officials.
- Examine the real estate properties in question and make an investment decision.
- Assess the client's risk based on previous borrowing history, credit rating, and industry experience.
- When necessary, obtain further information from loan officers.
- Consult with the supervisory underwriter before making application choices.
- Prepare detailed risk reports and evaluate other data.
Course Outline
The Underwriting exam covers the following topics:
Meaning and Fundamental of Underwriting
● Underwriting Basics
● Underwriting Policy
● The Underwriting Process
● Sources of Underwriting Information
● Classes of Business
● Product Design
● Underwriting of Life Insurance
● Underwriting of General Insurance
● Mortgage Underwriting
● Life Insurance Underwriting
Underwriting & Pricing of Product
● Types of Underwriting
● Other forms of Underwriting
● General Underwriting Considerations
● Assessment & Management of Exposure
● Perils & Clause of Insurance Policies
● Rules and Regulations Under Tariff
● Operational Control
● Nature of Claim for Various Classes of Insurance
● The Underlying Reason for Classification
● The Separation of Life and Non-life
● Claim settlement & its Significance
● Dispute, Litigation & Arbitration
● The Role of Insurance Intermediaries
● Underwriting Cycle
● The COPE Model
● Underwriting Results
Underwriting in India
● Underwriting Types
● Types of underwriters
● SEBI (UNDERWRITERS) REGULATIONS 1993
● SEBI (Underwriters) (Amendment) Regulations, 1999
● SEBI (UNDERWRITERS) (AMENDMENT) REGULATIONS, 2002
● SEBI (UNDERWRITERS) (AMENDMENT) REGULATIONS, 2006
● SEBI (UNDERWRITERS) (AMENDMEN T) REGULATIONS, 2011
Trends in Claim
● Introduction
● Role of IT in Claim Adjustment
● Customer Service
● Insurance Business & Claim Management in other Countries
● Automated Underwriting
What do we offer?
- Full-Length Mock Test with unique questions in each test set
- Practice objective questions with section-wise scores
- In-depth and exhaustive explanation for every question
- Reliable exam reports evaluating strengths and weaknesses
- Latest Questions with an updated version
- Tips & Tricks to crack the test
- Unlimited access
What are our Practice Exams?
- Practice exams have been designed by professionals and domain experts that simulate real-time exam scenario.
- Practice exam questions have been created on the basis of content outlined in the official documentation.
- Each set in the practice exam contains unique questions built with the intent to provide real-time experience to the candidates as well as gain more confidence during exam preparation.
- Practice exams help to self-evaluate against the exam content and work towards building strength to clear the exam.
- You can also create your own practice exam based on your choice and preference
