{"id":32423,"date":"2024-04-15T09:01:24","date_gmt":"2024-04-15T09:01:24","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=32423"},"modified":"2024-04-15T09:01:24","modified_gmt":"2024-04-15T09:01:24","slug":"pick-out-the-correct-statement-3","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/pick-out-the-correct-statement-3\/","title":{"rendered":"Pick out the correct statement."},"content":{"rendered":"<p>[amp_mcq option1=&#8221;Personal history and family history of a proposer are equally important&#8221; option2=&#8221;In a non-medical proposal family history is not asked for&#8221; option3=&#8221;Large sum assured is not a factor to be considered in non-medical underwriting&#8221; option4=&#8221;Moral Hazard is not relevant in nonmedical underwriting&#8221; correct=&#8221;option2&#8243;]<!--more--><\/p>\n<p>The correct answer is: <strong>B. In a non-medical proposal family history is not asked for<\/strong>.<\/p>\n<p>In a non-medical proposal, the insurer does not require the proposer to provide a detailed medical history. This is because the insurer is not able to assess the proposer&#8217;s health risks based on this information. Instead, the insurer will rely on other factors, such as the proposer&#8217;s age, occupation, and lifestyle, to assess the risk.<\/p>\n<p>Family history is one of the factors that can be used to assess a person&#8217;s health risks. However, it is not always possible to obtain this information, especially if the proposer does not have a close relationship with their family. Additionally, family history is not always a reliable indicator of a person&#8217;s health risks. For example, a person with a family history of heart disease may not develop heart disease themselves.<\/p>\n<p>Therefore, in a non-medical proposal, the insurer does not ask for family history. Instead, the insurer will rely on other factors to assess the risk.<\/p>\n<p>Here is a brief explanation of each option:<\/p>\n<ul>\n<li><strong>A. Personal history and family history of a proposer are equally important<\/strong>. This is not always the case. In a non-medical proposal, the insurer does not require the proposer to provide a detailed medical history. This is because the insurer is not able to assess the proposer&#8217;s health risks based on this information. Instead, the insurer will rely on other factors, such as the proposer&#8217;s age, occupation, and lifestyle, to assess the risk.<\/li>\n<li><strong>B. In a non-medical proposal family history is not asked for<\/strong>. This is correct. In a non-medical proposal, the insurer does not ask for family history. Instead, the insurer will rely on other factors to assess the risk.<\/li>\n<li><strong>C. Large sum assured is not a factor to be considered in non-medical underwriting<\/strong>. This is not correct. The sum assured is always a factor to be considered in underwriting, regardless of whether the proposal is medical or non-medical. The higher the sum assured, the higher the risk to the insurer and the higher the premium will be.<\/li>\n<li><strong>D. Moral Hazard is not relevant in nonmedical underwriting<\/strong>. This is not correct. Moral hazard is always a relevant factor in underwriting, regardless of whether the proposal is medical or non-medical. Moral hazard is the risk that an insured person will take more risks after they have been insured. This is because they know that they will be covered by the insurance policy.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>[amp_mcq option1=&#8221;Personal history and family history of a proposer are equally important&#8221; option2=&#8221;In a non-medical proposal family history is not asked for&#8221; option3=&#8221;Large sum assured is not a factor to be considered in non-medical underwriting&#8221; option4=&#8221;Moral Hazard is not relevant in nonmedical underwriting&#8221; correct=&#8221;option2&#8243;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[261],"tags":[],"class_list":["post-32423","post","type-post","status-publish","format-standard","hentry","category-insurance","no-featured-image-padding"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Pick out the correct statement.<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/exam.pscnotes.com\/mcq\/pick-out-the-correct-statement-3\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pick out the correct statement.\" \/>\n<meta property=\"og:description\" content=\"[amp_mcq option1=&#8221;Personal history and family history of a proposer are equally important&#8221; 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