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FSU RMI 3011 CHAPTER 4 RMI 3011 Florida State University - Questions with complete solution $12.49   Add to cart
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FSU RMI 3011 CHAPTER 4 RMI 3011 Florida State University - Questions with complete solution
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FSU RMI 3011 CHAPTER 4 RMI 3011 Florida State University - Questions with complete solution Reasons for regulation - correct answer 1. Make insurance available 2. Maintain insurer solvency 3. Compensate for inadequate consumer knowledge 4. Ensure reasonable rates Paul vs. Virginia (1868) ...

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  • November 30, 2024
  • 2
  • 2024/2025
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  • fsu rmi 3011 chapter 4
  • fsu rmi 3011 chapter 4 questions with complete sol
  • fsu rmi 3011 chapter 4 rmi 3011 florida state univ

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FSU RMI 3011 CHAPTER 4 Questions
with complete solution
Reasons for regulation - correct answer ✔1. Make insurance available
2. Maintain insurer solvency
3. Compensate for inadequate consumer knowledge
4. Ensure reasonable rates


Paul vs. Virginia (1868) - correct answer ✔Affirmed states rights to regulate
insurance


U.S. vs. South-Eastern Underwriters Association (1944) - correct answer
✔Ruled that insurance is interstate commerce and the federal government
can regulate


McCarron-Feguson Act (1945) - correct answer ✔Continued regulation &
taxation of insurance by the states are in public's best interest


Financial Modernized Act (1999) - correct answer ✔Insurers can buy banks;
banks can underwrite


Goals of rate regulation - correct answer ✔1. Should be adequate
2. Should not be excessive
3. Should not be unfairly discriminatory


Prior approval laws - correct answer ✔rates must be filed & approved by the
state before use

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