Aace Practice Test & Exam Prep

What is the primary function of an insurance underwriter?

To negotiate settlements after a loss To determine whether a risk is acceptable and on what terms To represent only the insured during a claim To regulate insurance brokers

Correct Answer:

To determine whether a risk is acceptable and on what terms

Explanation:

An underwriter evaluates the characteristics of a proposed risk, compares them with the insurer's appetite and underwriting rules, and decides whether coverage can be offered and on what terms and price.

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