n NISM Certifications
NSM General NISM
Medium

What are the four risk classes used in insurance risk classification?

Practice question from IC 38 Mock Test 20 — bank. The correct answer is highlighted below with a full explanation.

Options

  1. Standard lives, preferred risks, substandard lives, and declined lives

    Correct answer

  2. B

    Average, low, high, and extreme risks

  3. C

    Mortality table, equity, risk classification, underwriting

  4. D

    Risk class 1, 2, 3, and 4

A full explanation for this question is being written. In the meantime, the correct answer is highlighted above.

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