100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
RMI 3011 Quiz 1 RMI 3011 Florida State University -Question and answers correctly solved $13.49   Add to cart
Quickly navigate to
Preview
  2.  
  3. Florida State University
  4.  
  5. RMI 3011

Exam (elaborations)

RMI 3011 Quiz 1 RMI 3011 Florida State University -Question and answers correctly solved
 1 view  0 purchase

RMI 3011 Quiz 1 RMI 3011 Florida State University -Question and answers correctly solved adverse selection - correct answer occurs when one party in a negotiation has relevant information the other party lacks aleatory contract - correct answer contract in which the performance of one or bot...

[Show more]

Preview 1 out of 3  pages

Document information

  • December 1, 2024
  • 3
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • rmi 3011 quiz 1
  • rmi 3011 quiz 1 question and answers correctly sol
  • rmi 3011 quiz 1 rmi 3011 florida state university

Written for

All documents for this subject (80)

Seller

avatar-seller
Academia199

Reviews received

Content preview

RMI 3011 Quiz 1 Question and answers
correctly solved
adverse selection - correct answer ✔occurs when one party in a negotiation
has relevant information the other party lacks


aleatory contract - correct answer ✔contract in which the performance of one
or both parties is contingent upon the occurrence of a particular event


avoidance - correct answer ✔(1) taking steps to remove a hazard, (2)
engage in alternative activity, or (3) otherwise end a specific exposure


captive insurer - correct answer ✔insurance company that is wholly owned


combined ratio - correct answer ✔The combined ratio is a measure of
profitability used by an insurance company. (incurred losses + expenses) /
earned premium


concealment - correct answer ✔the act of hiding or not putting forward any
relevant fact in front of the insurer that need to be revealed


conditions - correct answer ✔Circumstances under which an insurance
contract is in force. Breach of the conditions is grounds for refusal to pay the
loss


cost of risk - correct answer ✔quantitative measurement of the total costs
(losses, risk control costs, risk financing costs, and administration costs)
associated with the risk management function, as compared to a business's
sales, assets, and number of employees

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

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

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

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 Academia199. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $13.49. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

60904 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$13.49
  • (0)
  Add to cart