Rmi exam - Study guides, Class notes & Summaries

RMI Exam 3| 100 Questions| Answers| Accurcentralize loss retention - ANSWER because an organization is able to insure all of its subsidiaries with the same pure captive, it is more likely to be able to a long-term relationship with a reinsurer enables a primary insurer to consistently fulfill producers' requests for insurance - ANSWER which one of the following statements is correct regarding treaty reinsurance collects premiums. issues policies, and pays covered losses - ANSWER a captiv...

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RMI exam 2 Correct Questions and Answers(RATED A) What are the 2 basic forms of an insuring agreement - ANSWER 1. named perils coverage: only perils specifically named in the policy are covered 2. open-perils: all losses are covered except losses specifically excluded Describe the 3 major types of exclusions - ANSWER 1. excluded perils (flood, intentional act) 2. excluded losses (a professional liability) 3. excluded property (pets) Describe the miscellaneous provision - ANSWER cance...

RMI Exam(2024 Latest Update)Accurate 16) Participants in the private insurance market include all of the following except: A) insurance buyers B) insurance companies C) insurance regulators D) the FDIC - ANSWER Answer: D 7) Which of the following is not provided on the private insurance market? A) Bank deposit insurance B) Life insurance C) Health insurance D) Commercial lines insurance - ANSWER Answer: A 10) Which of the following statements is not correct about the insurance prem...

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Problems with the health care system in the United States that led to implementation of the Affordable Care Act included 1. Rising healthcare expenditures 2.Considerable waste and inefficiency in the healthcare system A) I only B) II only C) both I and II D) neither I nor II - ANSWER C) both I and II All of the following are historical reasons for the increase in health care expenditures in the U.S. EXCEPT A) cost insulation because of third-party payers. B) employer-sponsored hea...

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

Problems with the health care system in the United States that led to implementation of the Affordable Care Act included 1. Rising healthcare expenditures 2.Considerable waste and inefficiency in the healthcare system A) I only B) II only C) both I and II D) neither I nor II - ANSWER C) both I and II All of the following are historical reasons for the increase in health care expenditures in the U.S. EXCEPT A) cost insulation because of third-party payers. B) employer-sponsored hea...

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