Rmi insurance exam Study guides, Class notes & Summaries

RMI 2302 Exam 1 Nyce Latest Update Graded A+ Risk Uncertainty regarding loss. There are different magnitudes of risk based on the decision maker: individual, organization, and society. Danger does not equal risk. Information does not alter risk. Uncertainty When you do not know the outcome, there is uncertainty. Multiple outcomes can also lead to uncertainty. Uncertainty is doubt about our ability to predict future outcomes. Because uncertainty is subjective, it can differ across in...

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...

RMI Exam 2 Complete Questions with Which one of the following is TRUE? A. It's the total amount of expected losses that causes risk. B. The Law of Large Numbers will work if you group together houses and commercial buildings for purposes of fire insurance. C. Liability risks are relatively easy for insurers to price. D. For new types of risk, the Coefficient of Variation (COV) is high. E. None of the above are TRUE. - ANSWER Correct answer: D. For new types of risk, the Coefficient of...

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...

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...

RMI Exam Question & Correct Answer (A+ Graded) Potential Effects on Property and Casualty Insurance - CORRECT ANSWER-Increased coastal losses and flooding due to higher sea levels; Property damaging wildfires due to increased droughts, lightning strike increases, and changes in wind and vegetation patterns. Potential Effects in Agriculture - CORRECT ANSWER-Increased pests, droughts and floods; More prevalent diseases such as soybean rot. Health and Life Insurance - CORRECT ANSWER-Inc...

International Risk (RMI 3567) Final Exam Questions and Answers Design Defect* - Correct Answer ️️ -A flaw or deficiency in the design of a product that makes it unreasonably dangerous to users. Can result in product liability where manufacturers/designers may be held responsible for injuries or damages caused by the defective design. Manufacturing Defect* - Correct Answer ️️ -A defect that occurs during the manufacturing process, causing a product to deviate from its intended desi...

RMI 3567 EXAM reinsurance/insurance ppt #1 Questions and Answers 100% Verified which countries have low penetration rates? - Correct Answer ️️ -bangladesh pakistan What are capital markets - Correct Answer ️️ -markets for buying and selling equity and debt securities. Medium and LT investment horizons facilitates buying and selling financial instruments primary and secondary what is a short term market example? - Correct Answer ️️ -money market accounts who are suppliers of...

RMI 3567 EXAM reinsurance/insurance ppt #1 Questions and Answers 100% Verified which countries have low penetration rates? - Correct Answer ️️ -bangladesh pakistan What are capital markets - Correct Answer ️️ -markets for buying and selling equity and debt securities. Medium and LT investment horizons facilitates buying and selling financial instruments primary and secondary what is a short term market example? - Correct Answer ️️ -money market accounts who are suppliers of...

RMI FInal Exam| 100 Questions| Accurate Executor Funds - ANSWER burial expenses, estate settlement costs Income needs of financially-dependent survivors - ANSWER Children Spouse or partner Other dependents (grandchildren, siblings, parents, friends, etc.) Business-related exposures - ANSWER Dependent projects (e.g., client relationships) Replacement of key employee Ownership Face Amount NEEDS - ANSWER Executor funds Income needs of financially-dependent survivors Business-related ...