RMIN 5570: EXAM 1 questions and
answers A+ graded
What are proprietary insurers?
A. insurer that earns a profit for its owners and aim to provide a ROI to stockholders
B. owned by policyholders that receive insurance protection for a small fee
C. a group of unrelated insurers
D. none of the above - correct answer ✔✔A. insurer that earns a profit for its owners and aim to
provide a ROI to stockholders
What is one of the benefits to appointing the insurance commissioner for the State Insurance
Department as opposed to electing one?
A. they are generally in office for a full-term
B. they are more aware of issues the public finds important
C. they are more likely to change the Insurance Department's stance
D. they are less likely to be unduly influenced by political contributors - correct answer ✔✔D.
they are less likely to be unduly influenced by political contributors
Which of the Georgia Commissioners is serving the longest term in prison?
A. Cecil Cooke
B. John Oxendine
C. Jim Beck
D. Ralph Hudgens - correct answer ✔✔C. Jim Beck
Which Georgia Commissioner was also involved in the House of Representatives as well as the
State Senate?
, A. John Oxendine
B. Ralph Hudgens
C. Jim Beck
D. John F. King - correct answer ✔✔B. Ralph Hudgens
What is an example of something that would be considered the Internet of Things?
A. a smart fridge
B. an apple watch
C. a phone
D. all of the above - correct answer ✔✔D. all of the above
An alien insurer:
A. provides insurance coverage in the state it was formed in
B. can provide insurance coverage in states other than what it was formed in
C. can sell insurance policies in a different country in which it is formed
D. none of the above - correct answer ✔✔C. can sell insurance policies in a different country
from which it is formed
Which characteristic of State Guaranty Funds is NOT correct?
A. assessments are made when an insurer fails
B. policies terminate within 60 days of the failure date
C. most states apply a $100 deductible to unpaid claims
D. most states divide their funds into separate accounts - correct answer ✔✔B. policies
terminate within 60 days of the failure date
What is one of the greatest responsibilities of an insurer?
A. meet customer needs
answers A+ graded
What are proprietary insurers?
A. insurer that earns a profit for its owners and aim to provide a ROI to stockholders
B. owned by policyholders that receive insurance protection for a small fee
C. a group of unrelated insurers
D. none of the above - correct answer ✔✔A. insurer that earns a profit for its owners and aim to
provide a ROI to stockholders
What is one of the benefits to appointing the insurance commissioner for the State Insurance
Department as opposed to electing one?
A. they are generally in office for a full-term
B. they are more aware of issues the public finds important
C. they are more likely to change the Insurance Department's stance
D. they are less likely to be unduly influenced by political contributors - correct answer ✔✔D.
they are less likely to be unduly influenced by political contributors
Which of the Georgia Commissioners is serving the longest term in prison?
A. Cecil Cooke
B. John Oxendine
C. Jim Beck
D. Ralph Hudgens - correct answer ✔✔C. Jim Beck
Which Georgia Commissioner was also involved in the House of Representatives as well as the
State Senate?
, A. John Oxendine
B. Ralph Hudgens
C. Jim Beck
D. John F. King - correct answer ✔✔B. Ralph Hudgens
What is an example of something that would be considered the Internet of Things?
A. a smart fridge
B. an apple watch
C. a phone
D. all of the above - correct answer ✔✔D. all of the above
An alien insurer:
A. provides insurance coverage in the state it was formed in
B. can provide insurance coverage in states other than what it was formed in
C. can sell insurance policies in a different country in which it is formed
D. none of the above - correct answer ✔✔C. can sell insurance policies in a different country
from which it is formed
Which characteristic of State Guaranty Funds is NOT correct?
A. assessments are made when an insurer fails
B. policies terminate within 60 days of the failure date
C. most states apply a $100 deductible to unpaid claims
D. most states divide their funds into separate accounts - correct answer ✔✔B. policies
terminate within 60 days of the failure date
What is one of the greatest responsibilities of an insurer?
A. meet customer needs
