New Jersey Life Insurance Exam Practice Question
An agent’s underwriting duties include which of the following?
Correct Answer: B
Rationale: Underwriting duties primarily involve evaluating risk and determining policy terms, which includes completing applications and collecting initial premiums (B). Setting premium amounts (A) is typically a function of actuarial analysis rather than underwriting. Declining or accepting an application (C) is part of the underwriting process but is not a standalone duty; it follows the application completion. Issuing the policy (D) is usually the responsibility of the insurer's administrative team, not the underwriter directly. Thus, option B accurately reflects the agent's underwriting responsibilities.
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