RMIN 4000 Edmunds Test 3 Questions & Answers, RMIN Test 2 Daniel Brown UGA Exam, RMIN 4000 Test 2 Daniel Brown Questions & Answers, RMIN 4000 Exam 2 Questions & Answers, RMIN 4000 UGA Brown Test 4 Exam Review Solution, RMIN 4000 Final Exam, RMIN 4000 UNIT

RMIN 4000 Test 3 Brown Questions & Answers Principal of Indemnity - ANS-insurer pays no more than actual amount of the loss; insurer should not profit from the loss Replacement cost - ANS-the cost to replace an inventory item in its identical form (similar workmanship and quality) Actual Cash...

RMIN TEST 1 Questions And Answers Exam 2024 risk - ANS-an uncertainty concerning the occurrence of a loss loss exposure - ANS-any situation/circumstance in which a loss is possible, regardless of whether a loss occurs objective risk - ANS-(degree of risk) the relative variation of actual loss f...

RMIN 4000 Edmunds Exam 2 Qs&As major types of private insurers - ANS-Stock, Mutual, and Lloyd's of London stock insurers - ANS-corporation owned by stockholders. objective is to earn profit for stockholders by increasing the value of the stock and paying dividends Mutual insurers - ANS-a corpor...

RMIN Daniel Brown Test 1 Questions & Answers exposure - ANS-things of value (assets) that could be lost Perils - ANS-things that could happen to your assets cause of a loss risk management - ANS-what someone does to protect their assets or prevent/ reduce their losses risk - ANS-a calculated po...

RMIN 4000 UGA TEST 1. CHAPTERS 1-3 QUESTIONS & ANSWERS 1) Traditionally, risk has been defined as A) any situation in which the probability of loss is one. B) any situation in which the probability of loss is zero. C) uncertainty concerning the occurrence of loss. D) the probability of a loss o...

RMIN 4000 UGA TEST 1 QUESTIONS & ANSWERS types of risk - ANS--pure risk -speculative risk -diversifiable risk -nondiversifiable risk -enterprise risk -systemic risk risk - ANS-uncertainty concerning the occurrence of a loss uncertainty - ANS-probabilities cannot be estimated loss exposure -...

RMIN 4000 Exam 3 - Topics 8,9,10 Questions & Answers How long is an auto insurance policy? - ANS-usually 6 or 12 months Who writes auto insurance policies? - ANS-ISO What is ISO? - ANS-Insurance Services Office Five General Types of Coverage for Auto Insurance - ANS-1. Liability 2. Uninsured Mo...

Tophat Questions RMIN Test 1 Questions & Answers Lannister Insurance Company insures 200,000 vehicles and 100,000 houses. In 2019, they paid a total of $136,000,000 in collision losses to the owners of 16,000 of those vehicles. What was Lannister's collision loss frequency in 2019? a) $680 b...

RMIN EXAM 1 CH 1-4 QUESTIONS & ANSWERS The property and liability insurance industry is characterized by a receptive pattern of loose underwriting standards with low premiums followed by tight underwriting standards with high premiums. This repetitive patter is called the: a. underwriting cycl...

RMIN Test 1 pt 2 Questions & Answers All of the following are characteristics of insurance EXCEPT A) risk avoidance. B) pooling of losses. C) payment of fortuitous losses. D) indemnification. - ANS-A) risk avoidance. Which of the following is implied by the pooling of losses? A) sharing o...

RMIN 4000 UNIT 1 TEST exposures - ANS-things of value (assets) that could be lost perils - ANS-things that could happen to these assets risk management - ANS-what do you want to do to protect these assets and/or prevent/reduce losses risk of driving a car - ANS-exposure: car peril: car accident...

RMIN 4000 Final Exam Peril - ANS-Cause of loss Risk - ANS-Uncertainty about chance, timing, or amount of loss Chance of Loss - ANS-Probability that an event will occur Objective Risk - ANS-The relative variation of actual loss from expected loss; (ActualExpected)/Expected; higher variation mean...

RMIN 4000 UGA Brown Test 4 Exam Review Solution fee-for-serive - ANS-a separate fee is paid for each service copayment - ANS-flat amount the insured must pay each time health services are received calendar year deductible - ANS-an aggregate deductible that has to be satisfied only once during the...

RMIN 4000 Exam 2 Questions & Answers Major Types of Private Insurers - ANS-Stock Insurers Mutual Insurers Lloyds of London Stock Insurer - ANS--A corporation owned by stockholders. -Objective is to earn profits for the stockholders by increasing stock and paying dividends. (Progressive, Alls...