Rmi exam 2 - Study guides, Class notes & Summaries
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RMI 3567 Exam 3 Questions and Answers Already Passed
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RMI 3567 Exam 3 Questions and 
Answers Already Passed 
 
Name four examples of alternative capital Pension Plan 
Endowments 
Hedge Funds 
Alt. Asset Manager 
 
what is it called when a reinsurer transfers risk to another reinsurer? Retrocession 
 
who is the reinsurer who the additional risk is ceded to? Retrocessionaire 
 
Who is the primary or reinsurer who transfers the risk? cedent 
 
Where are the top insurance markets? US 
 
China 
 
Japan 
 
What is the US insurance market driven by? prop...
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RMI 2302 FSU NYCE EXAM 1 (Q&A) LATEST UPDATE ALREADY PASSED
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RMI 2302 FSU NYCE EXAM 1 (Q&A) 
LATEST UPDATE ALREADY PASSED 
 
Risk Likelihood Frequency - the probability that a loss can occur. 
 
What 3 ways can Risk Likelihood be categorized High - an event is expected to happen in 
most circumstances 
Medium - an even will probably happen in many circumstances 
Low - an event may occur at some point 
 
Risk Impact Severity - the potential effect that a loss could have if it arises. 
 
Risk prevention methods are best applied to what? Frequency of losses ...
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RMI 3502: EXAM 1 (topics 1-3) Latest 2024 Graded A+
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RMI 3502: EXAM 1 (topics 1-3) Latest 
 
2024 Graded A+ 
 
Stock Insurance Companies These insurance companies primarily advantage from the ability 
to build capital quickly 
 
Stock Insurance Companies The most common type of insurance company is... 
 
Stock Insurance Companies This type of company is a proprietary insurer (for-profit) and 
owned by stockholders who are the risk bearers of the company 
 
Stock Insurance Companies These companies raise capital by: 
 
1. Selling stock 
2. Issuing ...
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RMI 2101 Exam 2 Questions and Answers Already Passed
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RMI 2101 Exam 2 Questions and 
Answers Already Passed 
 
What are risk transfers of the financing type? (6) Involves the transfer of risk through 
insurance or non-insurance techniques to shift the financial responsibility of a loss to another 
party. The activity or asset is still exposed to loss. Financial responsibility can be transfered 
back. 
 
Explain the insurance and non-insurance techniques of risk transfers and provide examples. (6) 
Insurance: transfer financial responsibility to ins...
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RMI 3567 Exam 2 Questions and Answers 100% Correct
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RMI 3567 Exam 2 Questions and 
Answers 100% Correct 
What are three positive externalities that occurred due to access to terrorism insurance? 
- Correct Answer ️️ -1. facilitates real estate transaction 
2. strengthens businesses' ability to operate in risky areas 
3. protects wealth/savings of households in risky areas 
Pollution from gasoline in a car or industrial pollution would be examples of what? - 
Correct Answer ️️ -negative externality 
This is the most common terrorism model...
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RMI 2303 Exam 1 Nyce Questions and Answers 100% Pass
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RMI 2303 Exam 1 Nyce Questions and 
 
Answers 100% Pass 
 
Which describes the immediate cause of a loss peril 
 
Carly is involved in a 3 car auto accident. Which risk is this an example of particular risk 
 
risk prevention and risk reduction are both included in which of the following risk (loss) 
control 
 
which is a common pre-loss objective economy 
 
which is the last step in the risk management process (but is often done first)? review and 
evaluate 
 
risk reduction methods are best ap...
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Exam 2 RMI 2302 - FSU Dr. Nyce Exam Questions With Verified Answers
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Exam 2 RMI 2302 - FSU Dr. Nyce Exam 
Questions With Verified Answers 
Who uses decision making ? - answerIndividuals 
Organizations 
Government 
Individuals use expected ____ - answerUtility 
Organizations use expected ____ - answerValue 
What entity is able to take on risk regardless of the reward - answerGov't 
What is one of the big problems we have with modeling how decisions are made? - 
answerDecisions are made is that they do not explicitly account for biases on the part of the 
decision...
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Exam 4 RMI 3567 Questions and Answers 100% Correct
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Exam 4 RMI 3567 Questions and Answers 100% Correct 
conventional insurance - Correct Answer ️️ -considered haram as it contractually 
contains haram elements: riba, gharar, maysir 
riba - Correct Answer ️️ -no equality between premiums paid and compensation 
received 
riba - Correct Answer ️️ -"interest" / usury 
gharar - Correct Answer ️️ -subject matter of the contract is not certain / uncertainty 
maysir - Correct Answer ️️ -Policyholders are held to be betting premiums ...
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Exam 2 RMI 2302 - FSU Dr. Nyce (Questions & Answers).
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Exam 2 RMI 2302 - FSU Dr. Nyce (Questions & Answers).
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RMI 2101 Exam 1 (Temple University) Already Graded A
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RMI 2101 Exam 1 (Temple University) 
 
Already Graded A 
 
Risk is the uncertainty about future losses or outcomes 
 
Probability likelihood that an outcome or event will occur 
 
Pure Risk is a chance of loss or no loss but no chance for gain; always undesirable 
 
Good Example of Pure Risk? You own a building, it will either burn or not burn, either way 
your financial responsibility remains constant. Pay the for the up keep of the building or suffer 
financial loss if building burns. 
 
Specu...
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