Rmin 4000 edmunds - Study guides, Class notes & Summaries

RMIN 4000 Edmunds Exam 3 Questions and Answers | 100% Pass basic parts of an insurance contract -Answer-declarations, definitions, insuring agreement, exclusions, conditions, and miscellaneous provisions declarations -Answer-statements that provide information about the particular property or activity to be insured what does the declarations page usually contain -Answer-name and address, policy dates, amount of insurance, premium and deductible, and other relevant info definitions -Answe...

RMIN 4000 Edmunds Test 3 Questions and AnsBasic Parts of an Insurance Contract - ANSWER-1. Declarations 2. Definitions 3. Insuring agreement 4. Exclusions 5. Conditions 6. Miscellaneous provisions Declarations - ANSWER-statements that provide information about the particular property or activity to be insured definitions - ANSWER-statements that provide information about the particular property or activity to be insured Insuring Agreement - ANSWER-Summary of the major promises of t...

RMIN 4000 Edmunds Exam 2 With Complete Solutions Latest Update

RMIN 4000 Edmunds Exam 2 Questions and Answers

How much life insurance is needed? - depends on family size, income levels, existing financial assets, and financial goals Costs of Premature Death - - future earnings are lost forever. - additional expenses incurred: funeral expenses, uninsured medical bills, higher childcare costs, estate settlement expenses, and outstanding debts. - possible reduction of standard living. Why have deductibles? - -eliminate small claims -reduce premiums -reduce moral and morale hazard Declarations - st...

RMIN 4000 Edmunds Exam 2 Questions and Answers 100% Verified! major types of private insurers - ANSWER-Stock, Mutual, and Lloyd's of London stock insurers - ANSWER-corporation owned by stockholders. objective is to earn profit for stockholders by increasing the value of the stock and paying dividends Mutual insurers - ANSWER-a corporation owned by policyholders. profits are distributed to policyholders by dividends or rate reductions types of mutual insurers - ANSWER-advance prem...

Basic Parts of an Insurance Contract - ANSWER-1. Declarations 2. Definitions 3. Insuring agreement 4. Exclusions 5. Conditions 6. Miscellaneous provisions Declarations - ANSWER-statements that provide information about the particular property or activity to be insured definitions - ANSWER-statements that provide information about the particular property or activity to be insured Insuring Agreement - ANSWER-Summary of the major promises of the insurer (what the policy covers) nam...

RMIN 4000 Edmunds Test 3 Questions and Answers | Latest Update | 2024/2025 | 100% Verified What is subrogation and why is it important in insurance? Subrogation is the process by which an insurer seeks to recover costs from a third party responsible for a loss after the insurer has paid the claim. Describe the concept of excess and surplus lines in insurance. Excess and surplus lines are insurance policies offered by insurers who are not licensed in the insured's state but provi...

major types of private insurers - ANSWER-Stock, Mutual, and Lloyd's of London stock insurers - ANSWER-corporation owned by stockholders. objective is to earn profit for stockholders by increasing the value of the stock and paying dividends Mutual insurers - ANSWER-a corporation owned by policyholders. profits are distributed to policyholders by dividends or rate reductions types of mutual insurers - ANSWER-advance premium mutual, assessment mutual, and fraternal insurer assessment ...

RMIN 4000 Edmunds Test 3 Questions & Answers