Rmin 4000 exam - Study guides, Class notes & Summaries

RMIN 4000 Exam 2 Study Guide Solutions Major Types of Private Insurers - ANSWER-Stock Insurers Mutual Insurers Lloyds of London Stock Insurer - ANSWER--A corporation owned by stockholders. -Objective is to earn profits for the stockholders by increasing stock and paying dividends. (Progressive, Allstate, Metlife, etc.) Mutual Insurer - ANSWER--a corporation owned by policyholders. -profits are distributed to policyholders by dividends or rate reductions. (statefarm, nationwide, libert...

RMIN 4000 Exam 1 Latest 2024 Graded A

RMIN 4000 Exam 3 Questions and Answers Rated A+ Basic Parts of an Insurance Contract declarations, definitions, insuring agreement, exclusions, conditions, miscellaneous provisions declaration part of an insurance contract that tells who, what, when, and where, lists the amount of coverage, premiums, and deductibles, and is usually the very first page definition part of the insurance contract that defines terms like "your covered auto" Insuring Agreement part of contract that ...

RMIN 4000 Exam 1 Brown Study Guide Solutions Textbook definition of RISK - ANSWER-Uncertainty concerning the occurrence of a loss Better definition of RISK - ANSWER-A calculated possibility of a negative outcome Calculated Possibility - ANSWER-0 = Impossible event (NO RISK) 0.5 = Highest Risk (Most Uncertainty) 1 = 100% Certain Event (NO RISK Negative Outcome - ANSWER-Loss Losses must be __________? - ANSWER-Quantifiable Pure Risk States - ANSWER-Loss or Copyright ©EMILYCHARLENE2025...

RMIN 4000 Exam 2 Latest 2024 Updated Already Graded A

RMIN 4000 EXAM 1 QUESTIONS AND ANSWERS 100% CORRECTRMIN 4000 EXAM 1 QUESTIONS AND ANSWERS 100% CORRECTRMIN 4000 EXAM 1 QUESTIONS AND ANSWERS 100% CORRECTRMIN 4000 EXAM 1 QUESTIONS AND ANSWERS 100% CORRECT Exposures - ANSWER-things of value (assets) that could be lost perils - ANSWER-things that could happen to these assets Risk management - ANSWER-what do you do to protect these assets and/or prevent/reduce losses? process that identifies loss exposures faced by an organization and se...

RMIN 4000 Exam 4 Brown UGA

RMIN 4000 Exam 3 - Topics 8,9,10 Questions and Answers 100% Pass How long is an auto insurance policy? usually 6 or 12 months Who writes auto insurance policies? ISO What is ISO? Insurance Services Office Five General Types of Coverage for Auto Insurance 1. Liability 2. Uninsured Motorist 3. Medical Payments 4. Damage 5. Convenience Coverage When is liability coverage implemented in auto? when you have a liability to a 3rd party for property damage (PD) or bodily injury (BI)...

RMIN 4000 Exam 1 Brown Questions and Answers 100% Accurate RMIN 4000 Exam 1 Brown Questions and Answers 100% Accurate RMIN 4000 Exam 1 Brown Questions and Answers 100% Accurate Textbook definition of RISK - ANSWER-Uncertainty concerning the occurrence of a loss Better definition of RISK - ANSWER-A calculated possibility of a negative outcome Calculated Possibility - ANSWER-0 = Impossible event (NO RISK)

RMIN 4000 Exam 3 - Topics 8,9,10 with Complete SolutionsRMIN 4000 Exam 3 - Topics 8,9,10 with Complete SolutionsRMIN 4000 Exam 3 - Topics 8,9,10 with Complete SolutionsRMIN 4000 Exam 3 - Topics 8,9,10 with Complete Solutions How long is an auto insurance policy? - ANSWER-usually 6 or 12 months Who writes auto insurance policies? - ANSWER-ISO What is ISO? - ANSWER-Insurance Services Office