Question 3 Insurance underwriting may be defined as: The selection of investment portfolio options that would generate the highest earnings for the insurance company. The cancellation of all written insurance policies that experienced extremely high losses in the current year. The process of calculating the amount of loading to be charged when quoting insurance premiums. The process of classifying insureds into different risk groups according to their risk levels.

Insurance underwriting may be defined as: The selection of investment portfolio options that would generate the highest earnings for the insurance company. The cancellation of all written insurance policies that experienced extremely high losses in the current year. The process of calculating the amount of loading to be charged when quoting insurance premiums. The process of classifying insureds into different risk groups according to their risk levels