Rmi exam 2 - Study guides, Class notes & Summaries

RMI 3567 Exam 2 Questions and Answers Already Passed What are three positive externalities that occurred due to access to terrorism insurance? 1. facilitates real estate transaction 2. strengthens businesses' ability to operate in risky areas 3. protects wealth/savings of households in risky areas Pollution from gasoline in a car or industrial pollution would be examples of what? negative externality This is the most common terrorism model for insurance risk pool What are the t...

RMI 300 Final Exam UPDATED Exam Questions and CORRECT Answers What are the different parts of an insurance contract? - CORRECT ANSWER- 1. Declarations page 2. Insuring agreement 3. Exclusions 4. Conditions 5. Attachments What are the different parts in the declarations page? - CORRECT ANSWER- 1. Exposure information 2. Insurer and policy information

RMI 2302 Exam 2 Latest 2024 with Verified Solutions free market fails to protect consumer interests requiring the government to find appropriate ways to protect us from ourselves; rewards those people who understand consumer behavior and can exploit consumer's weaknesses In a world dominated by rational behavior... the government could focus on externalities and focus less on consumers Jeremy Bentham (19th century) Urged politicians to design policies that maximized peoples happ...

Exam 2 RMI 2302 - FSU Dr. Nyce (Questions & Answers)

RMI 2302 FSU NYCE EXAM 1 (Q&A) LATEST UPDATE ALREADY PASSED Risk Likelihood Frequency - the probability that a loss can occur. What 3 ways can Risk Likelihood be categorized High - an event is expected to happen in most circumstances Medium - an even will probably happen in many circumstances Low - an event may occur at some point Risk Impact Severity - the potential effect that a loss could have if it arises. Risk prevention methods are best applied to what? Frequency of losses ...

RMI 3567 Exam 3 Questions and Answers Already Passed Name four examples of alternative capital Pension Plan Endowments Hedge Funds Alt. Asset Manager what is it called when a reinsurer transfers risk to another reinsurer? Retrocession who is the reinsurer who the additional risk is ceded to? Retrocessionaire Who is the primary or reinsurer who transfers the risk? cedent Where are the top insurance markets? US China Japan What is the US insurance market driven by? prop...

RMI 2101 Exam 2 Questions and Answers Already Passed What are risk transfers of the financing type? (6) Involves the transfer of risk through insurance or non-insurance techniques to shift the financial responsibility of a loss to another party. The activity or asset is still exposed to loss. Financial responsibility can be transfered back. Explain the insurance and non-insurance techniques of risk transfers and provide examples. (6) Insurance: transfer financial responsibility to ins...

RMI 3502: EXAM 1 (topics 1-3) Latest 2024 Graded A+ Stock Insurance Companies These insurance companies primarily advantage from the ability to build capital quickly Stock Insurance Companies The most common type of insurance company is... Stock Insurance Companies This type of company is a proprietary insurer (for-profit) and owned by stockholders who are the risk bearers of the company Stock Insurance Companies These companies raise capital by: 1. Selling stock 2. Issuing ...

RMI 3567 Exam 2 Questions and Answers 100% Correct What are three positive externalities that occurred due to access to terrorism insurance? - Correct Answer ️️ -1. facilitates real estate transaction 2. strengthens businesses' ability to operate in risky areas 3. protects wealth/savings of households in risky areas Pollution from gasoline in a car or industrial pollution would be examples of what? - Correct Answer ️️ -negative externality This is the most common terrorism model...

RMI 2303 Exam 1 Nyce Questions and Answers 100% Pass Which describes the immediate cause of a loss peril Carly is involved in a 3 car auto accident. Which risk is this an example of particular risk risk prevention and risk reduction are both included in which of the following risk (loss) control which is a common pre-loss objective economy which is the last step in the risk management process (but is often done first)? review and evaluate risk reduction methods are best ap...