Rmin4000 - Study guides, Class notes & Summaries

1. Lannister Insurance Company insures 200,000 vehicles. In 2019, they paid a total of $136,000,000 in collision losses to the owners of 16,000 of those vehi- cles. What was Lannister's collision loss frequency in 2019?: Ans- 0.08 (16k/200k) 2. Lannister Insurance Company insures 200,000 vehicles. In 2019, they paid a total of $136,000,000 in collision losses to the owners of 16,000 of those ve- hicles. What was Lannister's collision loss severity in 2019?: Ans- 8500 (136M/16K) 3. Michae...

RMIN4000 FINAL EXAM BROWN |Questions with 100% Correct Answers | Verified | Latest Update 2024 Graded A+

RMIN4000 Final Exam Brown Questions and Answers | Latest Update | 2024/2025 | 100% Verified How do you calculate the total premium if the expected loss is $50,000, administrative costs are $10,000, and the desired profit margin is 15%? Total premium = Expected loss + Administrative costs + (Expected loss + Administrative costs) × Profit margin Total premium = $50,000 + $10,000 + ($50,000 + $10,000) × 0.15 Total premium = $60,000 + $9,000 Total premium = $69,000 What is ...

RMIN4000 Final Exam Brown Questions and Answers 2024.

RMIN4000 EXAM BROWN #4 NOTES FOR THE EXAM QUESTIONS AND ANSWERS | LATEST UPDATE | 2024/2025 | GRADED A+ What is the key benefit of implementing risk controls early in the risk management process? Early implementation helps prevent risks from escalating and reduces potential losses. What does a risk assessment matrix typically display? It displays risks based on their likelihood and potential impact to prioritize response actions. How does risk diversification help in managing fin...

RMIN4000 FINAL EXAM BROWN UNIVERSITY QUESTIONS AND ANSWERS 100% SOLVED Lannister Insurance Company insures 200,000 vehicles. In 2019, they paid a total of $136,000,000 in collision losses to the owners of 16,000 of those vehicles. What was Lannister's collision loss frequency in 2019? 0.08 (16k/200k) Lannister Insurance Company insures 200,000 vehicles. In 2019, they paid a total of $136,000,000 in collision losses to the owners of 16,000 of those vehicles. What was Lannister's co...

RMIN4000 FINAL EXAM BROWN UNIVERSITY QUESTIONS AND ANSWERS 100% SOLVED Lannister Insurance Company insures 200,000 vehicles. In 2019, they paid a total of $136,000,000 in collision losses to the owners of 16,000 of those vehicles. What was Lannister's collision loss frequency in 2019? 0.08 (16k/200k) Lannister Insurance Company insures 200,000 vehicles. In 2019, they paid a total of $136,000,000 in collision losses to the owners of 16,000 of those vehicles. What was Lannister's co...

Lannister Insurance Company insures 200,000 vehicles. In 2019, they paid a total of $136,000,000 in collision losses to the owners of 16,000 of those vehicles. What was Lannister's collision loss frequency in 2019? -:- 0.08 (16k/200k) Lannister Insurance Company insures 200,000 vehicles. In 2019, they paid a total of $136,000,000 in collision losses to the owners of 16,000 of those vehicles. What was Lannister's collision loss severity in 2019? -:- 8500 (136M/16K) Michael Scott o...

RMIN4000 EXAM BROWN #4 NOTES FOR THE EXAM with Complete Solutions Effects of Third-Party Healthcare Transactions - (1) Patient/Insured/Employee (2) Healthcare Providers (3) End Result of Health transaction Patient/Insured/Employee - - lower "user prices" of healthcares - less incentive to act as a traditional consumer - increases moral hazard Healthcare Providers - - payment system based on fee for service - for service (x-ray, flu test, etc) a separate fee is paid End Result of Hea...