AD Banker Comprehensive Practice Exam

What is the role of the field underwriter in the insurance process?

1. Paramedical examiner

2. Producer

3. Medical doctor

4. Actuary

The correct answer is: Producer

The role of the field underwriter in the insurance process primarily belongs to the producer. A producer, often recognized as an insurance agent, is responsible for obtaining information from clients, completing applications, and collecting premium payments. They act as the intermediary between the insurance company and the client, ensuring that the insurance needs of the client are accurately communicated and understood. Producers play a critical role in assessing the risk associated with issuing a policy by gathering necessary information about the client, such as health history, lifestyle, and other relevant factors. This information is essential for the underwriting process, where the insurance company evaluates the risk and decides the terms of coverage. The other options refer to different roles. A paramedical examiner conducts medical examinations and collects health-related information, while a medical doctor provides medical expertise. An actuary analyzes data to help establish rates and projections for the insurance company but does not engage directly with clients in the sales process. Each of these roles is significant in the overall operations of insurance, but the field underwriter's responsibilities are most closely aligned with those of the producer.