Exam (elaborations)
RMI final exam review With Questions And 100% ALL SURE ANSWERS
- Course
- Institution
RMI final exam review With Questions And 100% ALL SURE ANSWERS
[Show more]
Seller
Follow
Content preview
JACKLINERMI final exam review With Questions And 100% ALL SURE ANSWERS
Terms in this set (120)
All of the following insurance contracts would be annunites
considered short-term except?
Auto
Health
Homeowner's
Annuities
Given the following data: written premiums = $100, 30/100 = 0.30
loss reserves = 45, underwriting expenses incurred
= 30, unearned premium reserves = 25, losses +
loss adjustment expenses incurred = 60, earned
premiums = 90, surplus = 50, what is the value of
the expense ratio?
30/50=0.60
(30+60)/100=0.90
30/90=0.33
30/100=0.30
1/26
,RMI final exam review
2/26
, Gene has a need for insurance that is unavailable A surplus lines broker
in the state where he lives. To obtain insurance in
the nonadmitted market, Gene should see
A nonadmitted agent
A general agency broker
A direct writer
A surplus lines broker
The right of the states to regulate the business of McCarran-Ferguson Act
insurance was first established by:
Paul v. Virginia
The South-Eastern Underwriters Association case
The Sherman Act
McCarran-Ferguson Act
Given the following data: written premiums = $100, 60/90= 0.67
loss reserves = 45, underwriting expenses incurred
= 30, unearned premium reserves = 25, losses +
loss adjustment expenses incurred = 60, earned
premiums = 90, surplus = 50, what is the value of
the loss ratio?
45/100=0.45
60/90=0.67
60/100=0.60
45/90=0.50
Which of the following is a principle method of Calculation of risk-based capital standards for insurers
ensuring the solvency of insurers?
None of the other answers are correct
Calculation of risk-based capital standards for
insurers
Disciplining agents of the insurer for illegal sales
practices
Regulating the forms (applications and policies)
employed by the insurer
Tracking and investigating market conduct
complaints against insurers
RMI final exam review
3/26
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
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!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
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.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Queenstin. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
75323 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now