Insurance Underwriter Test Assessment

Topics covered

Examining insurance proposals, Collecting background information and assessments of risk, Analyzing statistical data using specialist computer programs, Writing quotes and negotiating the terms with brokers and clients, Determining premiums, Preparing insurance policies terms and conditions, Liaising with insurance brokers and customers

  • MAQ (Multiple Answer Question)
  • MCQ (Multiple Choice Question)
  • Descriptive Question
  • White Board Simulator
  • Coding Simulator
  • Audio Question
  • Video Question
  • Case Study Question

Insurance Underwriters review individual applications for insurance to evaluate a degree of risk involved and determine acceptance of applications. They decide if applications for insurance cover (risks) should be accepted and, if so, what the terms of that acceptance are. 

The aim is to minimize losses for their company and help to make a profit. They effectively grow the assigned book of business and develop a market share of profitable business while protecting a company from financial loss through accurate and effective underwriting techniques and methodologies .They provide input/contribute to the establishment of effective underwriting policies and guidelines. Determining risk is a complex process and the job relies on sensible judgment and meticulous attention to detail. The underwriter must ensure that accurate quotes are produced that are competitive to the customer, yet profitable for the company.

Typical duties include:

  • Examining insurance proposals.

  • Collecting background information and assessments of risk.

  • Analyzing statistical data using specialist computer programs.

  • Writing quotes and negotiating the terms with brokers and clients.

  • Determining premiums.

  • Preparing insurance policies terms and conditions.

  • Liaising with insurance brokers and customers.


KEY SKILLS REQUIRED:

  • ANALYTICAL SKILLS - Quantitative Aptitude, Abstract Reasoning

  • GOOD MATH AND STATISTICS SKILLS - Quantitative Aptitude

  • ATTENTION TO DETAIL.

  • VERBAL AND WRITTEN COMMUNICATION SKILLS -  Verbal Ability

  • GOOD JUDGEMENT - Logical Reasoning

  • EXCEPTIONAL CUSTOMER SERVICE AND RELATIONSHIP BUILDING SKILLS - Logical Reasoning

  • FAMILIARITY WITH BUSINESS PROCESS IMPROVEMENT, TROUBLESHOOTING, AND CREATIVE PROBLEM SOLVING - Quantitative Aptitude

  • STRONG READING COMPREHENSION AND ANALYSIS SKILLS - Verbal Reasoning

  • MUST BE HIGHLY DETAIL ORIENTATED WITH ADVANCED ORGANIZATION SKILLS REQUIRED, INCLUDING ABILITY TO MANAGE MANY RESPONSIBILITIES EFFECTIVELY AT ONCE.

  • PROFICIENT IN MICROSOFT OFFICE SUITE AND INTERNET UTILTIZATION.- MS Word

 

TEST DESCRIPTION

VERBAL ABILITY 
Verbal ability is essential because grammar and vocabulary is a prerequisite for good spoken and written English.

VERBAL REASONING
Reading comprehension indicates an ability to comprehend and reason with the concepts on a written page.

QUANTITATIVE APTITUDE 
Quantitative ability will indicate analytical thinking and problem-solving ability.

LOGICAL REASONING
Logical Reasoning is assessed through  
•    Statement/Conclusion
•    Cause /Effect and 
•    Statement/Fact questions
These questions will indicate the quality of deductive reasoning and inductive reasoning which contribute to Critical thinking ability.

ABSTRACT REASONING
Abstract reasoning will indicate the ability to think clearly, identify logical patterns, learn new skills and solve complex problems. It is an indicator of fluid intelligence and shows an ability to strategize.

STATISTICS AND PROBABILITY
The topics include chai-square, ANOVA, t-test, variances, confidence intervals, p-values, probability distributions etc.

?MS WORD
The questions are on Keyboard shortcuts, Keyboard Combinations, Page orientations, Tables, Charts, formatting, commands.

This pre-employment test is useful for hiring:
  • Insurance companies

  • Reinsurance companies
  • Brokers

Test details:

Test Details: 60 Questions 80 minutes
 

  • Verbal Ability -                   10 Questions 10 minutes

  • Verbal Reasoning -           08 Questions 14 minutes

  • Quantitave Aptitude -        16 Questions 18 minutes

  • Logical Reasoning -            10 Questions 15 minutes

  • Abstract Reasoning -         08 Questions 13 minutes

  • Statistics & Probability -    08 Questions 10 minutes

  • MS Word -                           08 Questions 10 minutes

Insurance Underwriter Test

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24.00 Out of 40.00
Pass
60%
03
23 Minutes

Java EE

9/10

Hibernate

3/10

Oracle PL/SQL

7/10

Analytical Thinking

5/10

Note:If score<= 30% then its a Weakness. If score >=70% then its a Strength.

Strengths

Java EE, Oracle PL/SQL, Analytical Thinking

Weaknesses

Hibernate

Happy

It was a good test for me, the questions were on the latest technology of java on which I am currently working. It was a great experience. Thank you!

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