Question 13 (2 points) Risk control activities can help an insurer realize more profit by measures that reduce losses, but they can also take measures that increase the written premium coming in the door - another step in profitability. Which of these measures would result in more written premium for the insurer? 1) Providing information about a prospective risk which lets the underwriter make the informed decision to decline it 2) Recommending risk control measures which would make a marginal risk acceptable 3) Providing consistent, competent risk control service which would ward off errors and omissions claims 4) Maintain ongoing risk control recommendations for the insured which result in a lower loss ratio for the account Question 14 (2 points) All of the following are components of bulk reserves, EXCEPT: 1) Reserves for anticipated profit margin recovery for the line 2) Reserves for incurred but not reported losses 3) Reserves for losses which are inadequately reserved in the first place 4) Reserves for claims that have been settled but then are reopened Question 15 (2 points) The judgment method is often used for which types of coverage? 1) Ocean marine and aviation insurance 2) Commercial general liability 3) Boiler and machinery and crime coverage 4) Life, disability, and medical insurance Question 13 (2 points) Risk control activities can help an insurer realize more profit by measures that reduce losses, but they can also take measures that increase the written premium coming in the door - another step in profitability. Which of these measures would result in more written premium for the insurer? 1) Providing information about a prospective risk which lets the underwriter make the informed decision to decline it 2) Recommending risk control measures which would make a marginal risk acceptable 3) Providing consistent, competent risk control service which would ward off errors and omissions claims 4) Maintain ongoing risk control recommendations for the insured which result in a lower loss ratio for the account Question 14 (2 points) All of the following are components of bulk reserves, EXCEPT: 1) Reserves for anticipated profit margin recovery for the line 2) Reserves for incurred but not reported losses 3) Reserves for losses which are inadequately reserved in the first place 4) Reserves for claims that have been settled but then are reopened Question 15 (2 points) The judgment method is often used for which types of coverage? 1) Ocean marine and aviation insurance 2) Commercial general liability 3) Boiler and machinery and crime coverage 4) Life, disability, and medical insurance