Rmi insurance Study guides, Class notes & Summaries

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...

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 ...

RMI EXAM 2(2024 Latest Update)Accurate 100% chapter 5 - ANSWER chapter 5 principle of indemnity - ANSWER The insurer agrees to pay no more than the actual amount of the loss purpose of principle of indemnity - ANSWER -to prevent the insured from profiting from a loss -to reduce moral hazard in property insurance, indemnification is based on the _____ - ANSWER actual cash value methods of determining actual cash value - ANSWER -replacement cost less depreciation -fair market valu...

what chapter has licensing exemptions? - ANSWER-Chapter 1 A licensed landscape contracting business that constructs fences, decks, arbors, patios, landscape edging, driveways, walkways or retaining walls is exempt from licensing as a contractor. True or False - ANSWER-True what is a small residential structure? - ANSWER-A nonresidential structure with a ground area of 10,000 square feet or less and the structure is not more than 20 feet tall; or A nonresidential unit in a larger structure...

RMI Exam(2024 Latest Update)Accurate 16) Participants in the private insurance market include all of the following except: A) insurance buyers B) insurance companies C) insurance regulators D) the FDIC - ANSWER Answer: D 7) Which of the following is not provided on the private insurance market? A) Bank deposit insurance B) Life insurance C) Health insurance D) Commercial lines insurance - ANSWER Answer: A 10) Which of the following statements is not correct about the insurance prem...

RMI 2101 Exam 3 Latest Update Graded A+ Insurance Supply Insurers are willing to sell insurance at a particular price. Pi Price of insurance Pi = P* + Risk Charge + Loading Pmax the most an individual will pay for insurance for a particular risk. Risks are insurarable if.. Pi < Pmax Why might Pi > Pmax? - Pi is too high - risk charge is too high, loading costs are too high. - Pmax is too low - individuals underestimate the severity or frequency of the loss. Moral haza...

RMI 3567 Exam 2 Questions and Answers Already Passed What are three positive externalities that occurred due to access to terrorism insurance? 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? negative externality This is the most common terrorism model for insurance risk pool What are the t...

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 ...

RMI 3567 Exam 3 Questions with 100% Correct Name four examples of alternative capital - Correct Answer ️️ -Pension Plan Endowments Hedge Funds Alt. Asset Manager what is it called when a reinsurer transfers risk to another reinsurer? - Correct Answer ️️ -Retrocession who is the reinsurer who the additional risk is ceded to? - Correct Answer ️️ - Retrocessionaire Who is the primary or reinsurer who transfers the risk? - Correct Answer ️️ -cedent Where are the top insuran...

RMI Exam 4 (2024 Latest Update)Correct 100% Problems with the health care system in the United States that led to implementation of the Affordable Care Act included 1. Rising healthcare expenditures 2.Considerable waste and inefficiency in the healthcare system A) I only B) II only C) both I and II D) neither I nor II - ANSWER C) both I and II All of the following are historical reasons for the increase in health care expenditures in the U.S. EXCEPT A) cost insulation because of...