Standard risks - These consist of those people whose anticipated morbidity (chance of falling ill) is average.
Preferred risks - These are the ones whose anticipated morbidity is significantly lower than average and hence could be charged a lower premium.
Substandard risks - These are the ones whose anticipated morbidity is higher than the average, but are still considered to be insurable. Higher Premiums
Declined risks - These are the ones whose impairments and anticipated extra morbidity are so great that they could not be provided insurance coverage at an affordable cost.
Field level underwriting may also be known as primary underwriting. It includes information gathering by an agent or company representative to decide whether an applicant is suitable for granting insurance coverage
MODELEXAM® 
www.realsoftinfoplan.com