ALU 202 ACTUAL TEST PAPER COMPLETE
ANSWER GUIDE FREQUENTLY TESTED
CONTENT GUARANTEED TO PASS
⩥ Functional Team Structure.
Answer: Advantages include handling volume fluctuations and
developing expertise in a discipline.
⩥ 1. A competition department may analyze and compare its products
based on all of the following EXCEPT: 1. pricing 2. compliance 3.
features 4. compensation.
Answer: 2. compliance
⩥ 2. External audits of the underwriting department may be performed
by all of the following EXCEPT: 1. reinsurance companies 2.
paramedical vendors 3. insurance regulatory agencies 4. Medical
Information Bureau (MIB, Inc).
Answer: 2. paramedical vendors
⩥ Advantages of a functional team structure include which of the
following?.
Answer: A. handling volume fluctuations easily B. addressing multi-
faceted problems rapidly C. developing expertise in a discipline3. A and
C only are correct.
, ⩥ Good underwriting managers are proficient in the five classic
managerial functions:.
Answer: planning, organizing, staffing, directing, controlling
⩥ The planning process has several components, all of which are
connected to the goals for the organization. Successful planning
significantly improves the possibility of successful implementation.
Effective management planning requires:.
Answer: 1.setting goals
2.making decisions on the priority of goals 3.anticipating and planning
for future events that might affect accomplishment of goals.
⩥ Underwriting management can set department goals in the areas of:.
Answer: 1.mortality results to meet pricing assumptions 2.time service
3.accuracy of risk assessment by underwriters 4.productivity
5.research and development of risk selection policies and procedures
6.participation in industry studies and activities 7.employee training and
development. 8.participation in systems development and enhancement
9.participation in company marketing objectives.
⩥ In the operational planning phases, the manager's planning role will
continue through:.
Answer: 1.estimating necessary resources
ANSWER GUIDE FREQUENTLY TESTED
CONTENT GUARANTEED TO PASS
⩥ Functional Team Structure.
Answer: Advantages include handling volume fluctuations and
developing expertise in a discipline.
⩥ 1. A competition department may analyze and compare its products
based on all of the following EXCEPT: 1. pricing 2. compliance 3.
features 4. compensation.
Answer: 2. compliance
⩥ 2. External audits of the underwriting department may be performed
by all of the following EXCEPT: 1. reinsurance companies 2.
paramedical vendors 3. insurance regulatory agencies 4. Medical
Information Bureau (MIB, Inc).
Answer: 2. paramedical vendors
⩥ Advantages of a functional team structure include which of the
following?.
Answer: A. handling volume fluctuations easily B. addressing multi-
faceted problems rapidly C. developing expertise in a discipline3. A and
C only are correct.
, ⩥ Good underwriting managers are proficient in the five classic
managerial functions:.
Answer: planning, organizing, staffing, directing, controlling
⩥ The planning process has several components, all of which are
connected to the goals for the organization. Successful planning
significantly improves the possibility of successful implementation.
Effective management planning requires:.
Answer: 1.setting goals
2.making decisions on the priority of goals 3.anticipating and planning
for future events that might affect accomplishment of goals.
⩥ Underwriting management can set department goals in the areas of:.
Answer: 1.mortality results to meet pricing assumptions 2.time service
3.accuracy of risk assessment by underwriters 4.productivity
5.research and development of risk selection policies and procedures
6.participation in industry studies and activities 7.employee training and
development. 8.participation in systems development and enhancement
9.participation in company marketing objectives.
⩥ In the operational planning phases, the manager's planning role will
continue through:.
Answer: 1.estimating necessary resources
