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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 2 - UGA Daniel Brown UPDATED ACTUAL Exam Questions and CORRECT Answers Private insurance industry - CORRECT ANSWER- US insurance industry employed 2.9m - closer to 3m now Insurers paid over $20 billion in premium taxes Major types of private insurers - CORRECT ANSWER- Stock insurers Mutual insurers Mutual Insurers - CORRECT ANSWER- Owned by policyholders

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RMIN 4000 UGA Brown Exam 3 Questions and Answers 100% Correct RMIN 4000 UGA Brown Exam 3 Questions and Answers 100% Correct RMIN 4000 UGA Brown Exam 3 Questions and Answers 100% Correct principle of indemnity - ANSWER-The insurer agrees to pay no more than the actual amount of the loss (prevent the insured from profiting from loss) replacement cost (RC) - ANSWER-the cost to replace property with an item of like kind and quality (similar workmanship and materials) (not the same as histo...

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