RMI 2302 Nyce Module 7 Exam 2026
Questions and Answers
Loss Exposures - Correct answer-Any condition or situation that presents a
possibility of loss, regardless of whether that loss actually occurs.
Elements to a loss exposure - Correct answer--Asset exposed to loss
-Cause of loss
-Financial consequences of the loss
Property - Correct answer--Asset exposed to loss
Real property
Land, buildings, crops, etc...
Personal property
Your stuff: furniture, jewelry, art, autos, watercraft, etc...
-Cause of Loss
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,Fire, theft, windstorm, accidents, lost, pretty much anything you can think of
-Financial Consequences
Reduction in property value
Increased expenses
Lost income
Liability - Correct answer-***Liability cases only for negligence***
-Asset exposed to loss
Money / other financial assets
General, Special, Punitive damages
-Cause of Loss
Claim / lawsuit
Civil law vs. criminal law
Tort, contract, statutory
negligence
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, -Financial Consequences
Defense costs
Monetary damages
Types of Liability - Correct answer-Property owners
Automobiles
Employer-employee
Parents and children
Animals
Property owners Liability - Correct answer-Owners responsible for anything that
happens inside the premises of their property.
Automobiles Liability - Correct answer-Liability regarding car accidents, GTA,
and other related automobile liability i.e., tickets, insurance...
Employer-employee Liability - Correct answer-Employers, and not the employees
themselves, will often be held liable for the conduct of their employees. This is true
even if the employer had no intention to cause harm and played no physical role in
the harm.
©COPYRIGHT 2025, ALL RIGHTS RESERVE 3
Questions and Answers
Loss Exposures - Correct answer-Any condition or situation that presents a
possibility of loss, regardless of whether that loss actually occurs.
Elements to a loss exposure - Correct answer--Asset exposed to loss
-Cause of loss
-Financial consequences of the loss
Property - Correct answer--Asset exposed to loss
Real property
Land, buildings, crops, etc...
Personal property
Your stuff: furniture, jewelry, art, autos, watercraft, etc...
-Cause of Loss
©COPYRIGHT 2025, ALL RIGHTS RESERVE 1
,Fire, theft, windstorm, accidents, lost, pretty much anything you can think of
-Financial Consequences
Reduction in property value
Increased expenses
Lost income
Liability - Correct answer-***Liability cases only for negligence***
-Asset exposed to loss
Money / other financial assets
General, Special, Punitive damages
-Cause of Loss
Claim / lawsuit
Civil law vs. criminal law
Tort, contract, statutory
negligence
©COPYRIGHT 2025, ALL RIGHTS RESERVE 2
, -Financial Consequences
Defense costs
Monetary damages
Types of Liability - Correct answer-Property owners
Automobiles
Employer-employee
Parents and children
Animals
Property owners Liability - Correct answer-Owners responsible for anything that
happens inside the premises of their property.
Automobiles Liability - Correct answer-Liability regarding car accidents, GTA,
and other related automobile liability i.e., tickets, insurance...
Employer-employee Liability - Correct answer-Employers, and not the employees
themselves, will often be held liable for the conduct of their employees. This is true
even if the employer had no intention to cause harm and played no physical role in
the harm.
©COPYRIGHT 2025, ALL RIGHTS RESERVE 3
