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Exam (elaborations)

RMI211 Practice Exam 3 Practice Questions and Answers

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  • Course
  • RMI 211
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  • RMI 211

RMI211 Practice Exam 3 Practice Questions and Answers The major reasons for insurer insolvency include which of the following: I. Inadequate pricing and loss reserves II. Rapid Growth and inadequate surplus A. I only B. II only C. both I and II D. Neither I norII - Answer️️ -C Which of...

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  • August 30, 2024
  • 13
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • RMI 211
  • RMI 211
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SophiaBennett
©SOPHIABENNETT@2024-2025 Sunday, August 25, 2024 2:42 PM


RMI211 Practice Exam 3 Practice
Questions and Answers

The major reasons for insurer insolvency include which of the following:

I. Inadequate pricing and loss reserves

II. Rapid Growth and inadequate surplus



A. I only

B. II only

C. both I and II

D. Neither I norII - Answer✔️✔️-C

Which of the following is a principal method of insuring the solvency of
insurers?



A. requiring submission of annual financial statements to state regulators

B. tracking and investing market conduct complaints against insurers

C. disciplining agents of the insurer for illegal sale practices

D. regulating the forms (applications and policies) employed by the insurer
- Answer✔️✔️-A




1

, ©SOPHIABENNETT@2024-2025 Sunday, August 25, 2024 2:42 PM

The number of title insurance companies operating in State Z is relatively
low. Recently, the largest of these companies (50% market share) acquired
the second largest company (30% market share). Immediately after the
acquisition, the insurer raised premiums by 75%. This scenario
demonstrates which of the following rationales for the regulation of
insurance?



A. maintain insurers solvency

B. prohibit unfair sales practice by agents

C. ensure reasonable rates

D. make insurance available - Answer✔️✔️-C

In which of the following did the Court decide insurance was interstate
commerce when conducted across state lines, and therefore was subject to
federal regulation?



A. Paul v. Virginia

B. South-Eastern Underwriters Association case

C. McCarran-Ferguson Act

D. Financial Modernization Act - Answer✔️✔️-B




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