Rmi exam 2 - Study guides, Class notes & Summaries
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RMI 211 Exam 2 Review Correct Questions and Answers(RATED A)
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RMI 211 Exam 2 Review Correct Questions and Types of Private Insurers - ANSWER Stock Insurers 
Mutual Insurers 
Reciprocal exchanges 
Lloyd's of London 
Blue Cross Blue Shield plans 
Health maintenance organizations (HMOs) 
 
Stock Insurers - ANSWER Owned by Stockholders, publicly traded and goal is to profit shareholders 
 
Mutual Insurers - ANSWER Owned by policyholders, and goal is to be there for their policy holders 
 
Fraternal Insurer - ANSWER insures members of a private nonprofit organ...
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RMI 3567 Exam 3 Questions with 100% Correct
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RMI 3567 Exam 3 Questions with 100% Correct 
Name four examples of alternative capital - Correct Answer ️️ -Pension Plan 
Endowments 
Hedge Funds 
Alt. Asset Manager 
what is it called when a reinsurer transfers risk to another reinsurer? - Correct Answer ️️ 
-Retrocession 
who is the reinsurer who the additional risk is ceded to? - Correct Answer ️️ - 
Retrocessionaire 
Who is the primary or reinsurer who transfers the risk? - Correct Answer ️️ -cedent 
Where are the top insuran...
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RMI 2302 Final Exam Nyce Questions and Answers Already Passed
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RMI 2302 Final Exam Nyce Questions 
and Answers Already Passed 
 
The number of years between same-sized natural disaster events is also known as Return 
Period 
 
Frequency and magnitude of natural disasters typically have a _____ ? Inverse relationship 
 
Risks of "high concern" in the Global Risk Report 2014 1. Food crisis 
2. Water crisis 
3. Political instability 
 
Today, most developed countries have gone from _____ death rates and _____ birth rates to 
_____ death rates and _____ birth...
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RMI 2101 Exam 3 Latest Update Graded A+
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RMI 2101 Exam 3 Latest Update 
 
Graded A+ 
 
Insurance Supply Insurers are willing to sell insurance at a particular price. 
 
Pi Price of insurance 
 
Pi = P* + Risk Charge + Loading 
 
Pmax the most an individual will pay for insurance for a particular risk. 
 
Risks are insurarable if.. Pi < Pmax 
 
Why might Pi > Pmax? - Pi is too high - risk charge is too high, loading costs are too high. 
- Pmax is too low - individuals underestimate the severity or frequency of the loss. Moral haza...
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RMI 2302 Nyce Module 2 Exam Questions And Answers (Verified And Updated)
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RMI 2302 Nyce Module 2 Exam Questions 
And Answers (Verified And Updated) 
A Scientific View of Risk - answerProbability of a person suffering an adverse effect from 
some activity or exposure over a given period of time/involvement. 
-ADDS A TIME ELEMENT 
Risk Reduction and Public Policy - answerRisk Reduction has costs (both monetary and non- 
monetary) 
Requires putting a value on human life 
How much are you worth? Parents? Grandparents? 
How do you balance risk/reward? 
Can drive highway de...
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RMI 2302 Exam 2 Questions And Answers (Verified And Updated)
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RMI 2302 Exam 2 Questions And Answers 
(Verified And Updated) 
free market - answerfails 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... - answerthe government could focus on 
externalities and focus less on consumers 
Jeremy Bentham - answer(19th century) Urged politicians to design policies tha...
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RMI 300: Exam 2 Questions With 100% Correct Answers
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RMI 300: Exam 2 Questions With 100% 
Correct Answers 
random variable - answervariables whose outcomes are uncertain and can have different 
values 
how to develop probability distributions - answer1) identify all possible outcomes 
2) calculate probabilities for all possible outcomes 
collectively exhaustive - answeraccount for all possibilities 
mutually exclusive - answerdefine so that the occurrence of one outcome precludes the 
occurrence of any other 
discrete distribution - answerwhen var...
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RMI 2101 Exam 2 Questions With Verified And Updated Answers
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RMI 2101 Exam 2 Questions With 
Verified And Updated Answers 
What are risk transfers of the financing type? (6) - answerInvolves 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) - 
answerInsurance: transfer financial re...
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RMI 2302 Final Exam Nyce UPDATED Actual Exam Questions and CORRECT Answers
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RMI 2302 Final Exam Nyce UPDATED 
Actual Exam Questions and CORRECT 
Answers 
The number of years between same-sized natural disaster events is also known as - 
CORRECT ANSWER- Return Period 
Frequency and magnitude of natural disasters typically have a _____ ? - CORRECT 
ANSWER- Inverse relationship 
Risks of "high concern" in the Global Risk Report 2014 - CORRECT ANSWER- 1. Food 
crisis 
2. Water crisis 
3. Political instability
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RMI 300 EXAM 2 WITH COMPLETE QUESTIONS AND ANSWERS
- Exam (elaborations) • 11 pages • 2023
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RMI 300 EXAM 2 WITH COMPLETE QUESTIONS AND ANSWERS
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