RMI211 Practice Exam 3 Practice Questions and Answers
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Course
RMI 211
Institution
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...
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
2
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