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    Question

    What is the purpose of a risk survey in underwriting?

    A To gather detailed information about a specific risk. Correct Answer Incorrect Answer
    B To determine the premium rate for a standard risk Correct Answer Incorrect Answer
    C To assess the financial condition of the insured. Correct Answer Incorrect Answer
    D To process claims. Correct Answer Incorrect Answer
    E None of the above Correct Answer Incorrect Answer

    Solution

    A risk survey is conducted to gather detailed information about a specific risk, such as the property to be insured, the nature of the business, the potential hazards, and other relevant factors. This information is used by underwriters to assess the risk and determine appropriate coverage and premiums.

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