AU-M Practice Questions - AU-M Associate In Commercial Underwriting-Management Exam

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An underwriter approves a $25 million property limit but the assigned authority letter caps personal authority at $10 million. The proper next step is to:

Bind the account because the underwriter has filled this role for years Refer the submission to the underwriting manager or higher authority for approval Split the account into two policies to stay under the cap Issue a binder subject to a later authority review

Correct Answer:

Refer the submission to the underwriting manager or higher authority for approval

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