RMIN Exam set Questions with Answers complete solution 100% pass

RMIN Exam set Questions with Answers complete solution 100% pass Despite being frequently reminded otherwise, Laura was in the habit of leaving her car door unlocked, often with her purse inside. As a result, Laura's car was stolen, along with her purse. Laura's behavior is an example of a - Ans Morale hazard. Which of the following statement about risk-taking behavior is correct? - Ans Risk averse would be happy to pay more than fair bet for insurance. Assume the probability of losing a laptop is 1% and a new laptop costs $1000. What is the fair bet cost for a laptop replacement insurance? - Ans $10 An example of an intangible asset that an individual may possess is - Ans A unique skill set. Which one of the following statements is true regarding the financial consequences of loss? - Ans The financial consequences depend on the type of loss exposure, the cause of loss, and the loss frequency and severity. George has received an inheritance and is deciding what to do with the money. He has limited his options to four choices: donate all the money to his favorite charity, use the entire inheritance to buy a yacht, invest the inheritance in a small rental property, or use the entire amount to purchase T-bills. Which one of the following statements is true regarding the risk involved in George's options? - Ans The rental property presents both pure and speculative risk; property values may increase, and the building could burn down. Some characteristics of the judicial system and regulatory environment increase the frequency and severity of loss. This hazard is called - Ans legal hazard. Which of the following statements about the use of deductibles is (are) true? I. They represent risk retention by insurance purchasers.