Package deal
RMIN 4000 Complete Package Deal With Verified Study Solutions Rated A+
RMIN 4000 Complete Package Deal With Verified Study Solutions Rated A+
[Show more]RMIN 4000 Complete Package Deal With Verified Study Solutions Rated A+
[Show more]50% rule - you cannot recover if you are 50% or more at fault 
51% rule - you cannot recover if you are 51% or more at fault 
additional coverages under Section I - debris removal of damaged property, reasonable repairs, 
trees and other plants, fire department service charge, unauthorized credit ca...
Preview 2 out of 12 pages
Add to cart50% rule - you cannot recover if you are 50% or more at fault 
51% rule - you cannot recover if you are 51% or more at fault 
additional coverages under Section I - debris removal of damaged property, reasonable repairs, 
trees and other plants, fire department service charge, unauthorized credit ca...
1x sold
Abandonment - - Insurance company may choose to take damaged property and pay insured the 
value 
- Insured CANNOT surrender damaged property to insurance company 
Active Retention - Identify the loss/risk exposure and really consider the risk itself and all the 
measures around it. (ex. Should we t...
Preview 2 out of 9 pages
Add to cartAbandonment - - Insurance company may choose to take damaged property and pay insured the 
value 
- Insured CANNOT surrender damaged property to insurance company 
Active Retention - Identify the loss/risk exposure and really consider the risk itself and all the 
measures around it. (ex. Should we t...
Actual Cash Value - Replacement Cost minus Depreciation. 
Depreciation (%) = Age/Useful Life 
ACV = RC - Depreciation 
Highest depreciation is usually 80% 
In property insurance, indemnification is usually based on the actual cash value of the property at the 
time of the loss. 
EXAMPLE: Roof instal...
Preview 4 out of 53 pages
Add to cartActual Cash Value - Replacement Cost minus Depreciation. 
Depreciation (%) = Age/Useful Life 
ACV = RC - Depreciation 
Highest depreciation is usually 80% 
In property insurance, indemnification is usually based on the actual cash value of the property at the 
time of the loss. 
EXAMPLE: Roof instal...
401k plan - income-tax deductible, investment income accumulates tax free, distributions taxed 
upon withdrawal, and any employer match that is received does not count towards contribution limit 
additional insureds - person or party added to the policy by an endorsement (lenders and 
mortgagors) 
a...
Preview 2 out of 13 pages
Add to cart401k plan - income-tax deductible, investment income accumulates tax free, distributions taxed 
upon withdrawal, and any employer match that is received does not count towards contribution limit 
additional insureds - person or party added to the policy by an endorsement (lenders and 
mortgagors) 
a...
401(k) plan - a. Must have taxable income 
b. Must be under age 72 
c. Annual contributions to a 401K plan are income-tax deductible, investment income accumulates tax 
free, and distributions are taxed upon withdrawal 
d. Withdraw without penalty at age 59 ½ 
e. Certain hardship exceptions prior t...
Preview 3 out of 18 pages
Add to cart401(k) plan - a. Must have taxable income 
b. Must be under age 72 
c. Annual contributions to a 401K plan are income-tax deductible, investment income accumulates tax 
free, and distributions are taxed upon withdrawal 
d. Withdraw without penalty at age 59 ½ 
e. Certain hardship exceptions prior t...
_______ _____________ is a risk control technique that reduces the severity of a loss. it can occur preloss or post-loss. examples are duplication, diversification, and separation - Loss reduction 
__________________ _____________ is a risk financing technique in which you transfer liability by 
con...
Preview 2 out of 10 pages
Add to cart_______ _____________ is a risk control technique that reduces the severity of a loss. it can occur preloss or post-loss. examples are duplication, diversification, and separation - Loss reduction 
__________________ _____________ is a risk financing technique in which you transfer liability by 
con...
Actual Cash Value - replacement cost - depreciation 
in property ins, usually based on the actual cash value of the property at the time of loss 
Additional Insured - a person or party who is added to the named insured's policy by an 
endorsement 
Advantages of Group Insurance - -may be less expens...
Preview 2 out of 12 pages
Add to cartActual Cash Value - replacement cost - depreciation 
in property ins, usually based on the actual cash value of the property at the time of loss 
Additional Insured - a person or party who is added to the named insured's policy by an 
endorsement 
Advantages of Group Insurance - -may be less expens...
Actual Cash Value - Replacement Cost-Depreciation 
Actuary - A person who uses complex statistical methods and technology to analyze loss 
and other data to determine rates and premiums. 
Brokers - represent policyholders to arrange coverage with syndicates. Legally represents 
insured. 
Ceding Comp...
Preview 2 out of 6 pages
Add to cartActual Cash Value - Replacement Cost-Depreciation 
Actuary - A person who uses complex statistical methods and technology to analyze loss 
and other data to determine rates and premiums. 
Brokers - represent policyholders to arrange coverage with syndicates. Legally represents 
insured. 
Ceding Comp...
4 types of hazards - 1) physical hazard 
2) moral hazard 
3) attitudinal hazard 
4) legal hazard 
6 characteristics of an insurable risk - 1) there must be a large number of exposure units 
2) the loss must be accidental and unintentional 
3) the loss must be determinable and measurable 
4) the loss...
Preview 2 out of 15 pages
Add to cart4 types of hazards - 1) physical hazard 
2) moral hazard 
3) attitudinal hazard 
4) legal hazard 
6 characteristics of an insurable risk - 1) there must be a large number of exposure units 
2) the loss must be accidental and unintentional 
3) the loss must be determinable and measurable 
4) the loss...
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Stuvia is a marketplace, so you are not buying this document from us, but from seller PatrickKaylian. Stuvia facilitates payment to the seller.
No, you only buy these notes for $16.99. You're not tied to anything after your purchase.
4.6 stars on Google & Trustpilot (+1000 reviews)
83100 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now