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RMIN Test 2 Daniel Brown UGA UPDATED ACTUAL Exam Questions and CORRECT Answers stock insurers mutual insurers Lloyd's of London - CORRECT ANSWER- Major Types of Private Insurers stock insurer - CORRECT ANSWER- a corporation owned by stockholders

100% CORRECT ad hoc for this purpose only ab ovo from the egg - at the beginning, from the start ad curiam to (at) court ad infinitum to infinity - without limit, indefinitely ad litem to the suit - for the purposes of a lawsuit, pending a lawsuit: A guardian ad litem is appointed to act on behalf of an incompetent. ad nauseam to the point of inducing nausea NOTE: It is NOT spelled nauseum. ad testificandum for testifying - subpoena to appear in court and testify alter ...

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 possibility of a negative outcome uncertainty concerning the occurrence of a loss Calculated possibility - ANS-a probablilistic outcome that is known or estimated ranges from 0 to 1 or a percentage ...

RMIN 4000 UGA Brown Test 4 Exam Review-with 100% verified solutions

All of the following are characteristics of insurance EXCEPT A) risk avoidance. B) pooling of losses. C) payment of fortuitous losses. D) indemnification. A) risk avoidance. Which of the following is implied by the pooling of losses? A) sharing of losses by an entire group B) inability to predict losses with any degree of accuracy C) substitution of actual loss for average loss D) increase of objective risk A) sharing of losses by an entire group

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 from expected loss law of large numbers - ANS-as the number of exposure units increases, the more closely the actual loss will approach the expected loss subjective risk - ANS-uncertainty based on ...

The document is not the original book; it's a handy collection of pre-written exam questions and answers that helps educators gauge students' understanding of the course material. It’s a great resource for creating quizzes and exams, saving teachers time and ensuring students are assessed fairly and thoroughly. Please note: In some of our test banks, chapters are not explicitly labeled. Each new chapter begins when the question numbers reset to 1, ensuring you can easily identify ...

RMIN 4000 UGA Brown Test 4 Latest Update Already Passed fee-for-serive a separate fee is paid for each service copayment flat amount the insured must pay each time health services are received calendar year deductible an aggregate deductible that has to be satisfied only once during the calendar year coinsurance the percentage of the medical expenses the policyholder must pay in addition to the deductible amount Out-of-pocket maximum (stop-loss limit) the most the insured wil...

RMIN TEST 2 Questions with verified correct answers - complete solution 2024.

RMIN Test 2 Daniel Brown UGA Exam Major Types of Private Insurers - ANSWER-stock insurers mutual insurers Lloyd's of London stock insurer - ANSWER-a corporation owned by stockholders objective is to earn profit for stockholders by increasing the value of the stock and paying dividends mutual insurer - ANSWER-a corporation owned by policyholders profits are distributed to policyholders by dividends or rate reductions types of mutual insurers - ANSWER-advance premium mutual assessment m...