RMI 3011

RMI 3011 FSU Exam 3 Final Practice Exam Missed RMI 3011 Florida State University -Questions and answers 100% correctly solved Which method of determining face amounts of life insurance generally generates an indication of higher insurance needs? - correct answer Needs based approach Which method of determining face amounts of life insurance utilizes an estimate of future earnings of the insured? - correct answer Human life value approach Which type of life insurance offers temporary p...

RMI 3011 FSU EXAM 2 RMI 3011 Florida State University -Question and answers verified to pass declarations - correct answer statements that provide information about the particular property or activity to be insured Definitions - correct answer Insurance contracts typically contain a page or section of definitions. Key words have quotation marks around them ("...") Insuring Agreement (Clause) - correct answer summarizes the major promises of the insurer. The two basic forms o...

RMI 3011 fsu exam 1 RMI 3011 Florida State University -Question and answers correctly solved subjunctive risk - correct answer person's mental condition enterprise risk - correct answer all the moving pieces that have to be managed from a risk perspective in a business, part of business model financial risk - correct answer having insurance manages speculative risk - correct answer either profit or loss may occur pure risk - correct answer only a chance of loss or no lo...

RMI 3011 FSU Exam 1 RMI 3011 Florida State University -Question and answers 100% correctly solved Bill is walking into work and slips on a patch of ice in the parking lot. Which of the following best describes the patch of ice? - correct answer Physical hazard Which of the following terms describes any situation in which a loss is possible (regardless of whether or not a loss occurs)? - correct answer Loss exposure Which of the following is not a basic characteristic of insurance? - c...

RMI 3011 final exam RMI 3011 Florida State University -Question and answers rated A+ annuity - correct answer periodic pmt that continues for fixed pd or duration of designated life annuitant - correct answer recs pmts annuity reduces risk of - correct answer living too long annuity if the opposite of - correct answer LI 1. fixed annuity - correct answer guaranteed and fixed amt accumulation pd - correct answer prior to retirement guaranteed rate - correct answer ...

RMI 3011 Final Exam RMI 3011 Florida State University -Question and answers rated A+ Which of the following statements is (are) true with respect to annuities? I. Annuities are the opposite of life insurance. II. The fundamental purpose of annuities is to replace lost income in case of premature death. - correct answer I only When selling life annuities, what risk is the insurer pooling? - correct answer excessive longevity Life annuity payments are made up of all of the following EX...

RMI 3011 Final Exam Jones RMI 3011 Florida State University -Question and answers already passed What are the perils affecting income? - correct answer - Premature Death - Disability - Old Age - Poor Health - Unemployment What is Premature Death? - correct answer The death of a family head with outstanding unfulfilled financial obligations. What are the costs of premature death to the family? - correct answer - The family's share of the deceased breadwinner's future earning...

RMI 3011 FINAL EXAM FSU ZAVADA RMI 3011 Florida State University -Questions with complete solution Annuity - correct answer A periodic payment that continues for a fixed period or for the duration of a designated life or lives. It provides protection against the risk of excessive longevity. The fundamental purpose is to provide a lifetime income that cannot be outlived Types of Annuity - correct answer Fixed annuity Variable annuity Equity-indexed annuity Fixed Annuity - correct an...

RMI 3011 Exam 4 Health Insurance - Melvin Stith RMI 3011 Florida State University -Question and answers 100% correct 4 major problems of the US Healthcare delivery system - correct answer 1. rising healthcare expenditures 2. large number of uninsured in the population 3. considerable waste and inefficiency 4. harmful insurer practices Why are healthcare expenditures rising? - correct answer - advances in technology - cost insulation because of third-party payers - employer-spon...

RMI 3011 Exam 3 Study Guide RMI 3011 Florida State University -Question and answers correctly Which of the following statements is/are true with respect to annuities? - correct answer annuities are the opposite of life insurance When selling life annuities, what risk is the insurer pooling? - correct answer excessive longevity Life annuity payments are made up of all of the following EXCEPT: - correct answer unliquidated principal of annuitants who live too long Stan paid an insu...