B Com Exam > B Com Videos > Advanced Corporate Accounting > Underwriting - Simple Problem
Underwriting - Simple Problem Video Lecture | Advanced Corporate Accounting - B Com
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FAQs on Underwriting - Simple Problem Video Lecture - Advanced Corporate Accounting - B Com
| 1. What is underwriting in the context of B Com? |  |
Ans. Underwriting in B Com refers to the process of evaluating the risk of insuring a person or entity and determining the premium that should be charged. It involves assessing the financial stability, health, and other factors that may affect the likelihood of a claim being made.
| 2. How does underwriting affect insurance premiums? | |
Ans. Underwriting plays a crucial role in determining insurance premiums. If a person or entity is deemed to be high risk based on the underwriting assessment, they may be charged a higher premium to offset the increased likelihood of a claim being made.
| 3. What are the different types of underwriting methods used in B Com? | |
Ans. The different types of underwriting methods used in B Com include manual underwriting, automated underwriting, and predictive underwriting. Each method has its own set of criteria and processes for assessing risk.
| 4. What are the key factors considered during the underwriting process in B Com? | |
Ans. Some key factors considered during the underwriting process in B Com include the applicant's financial history, credit score, health status, occupation, and lifestyle choices. These factors help underwriters determine the level of risk associated with insuring the individual or entity.
| 5. How can underwriting help insurance companies manage risk? | |
Ans. Underwriting helps insurance companies manage risk by carefully assessing the likelihood of a claim being made and pricing premiums accordingly. By accurately underwriting policies, insurance companies can minimize their exposure to risk and ensure their financial stability.
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About this Video
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Nov 22, 2024 Last updated |
Video Description: Underwriting - Simple Problem for B Com 2024 is part of Advanced Corporate Accounting preparation.
The notes and questions for Underwriting - Simple Problem have been prepared according to the B Com exam syllabus.
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