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RMIN 2005: Final Questions and Correct
Answers
All EXCEPT which of the following is considered a commercial
property exposure?
a) Contents of your residential home
b) Business income
c) Damage to a commercial vehicle
d) Intellectual property Ans: a
Workers' compensation is commonly categorized as either.
a) A property exposure or a liability exposure
b) A property exposure or public entity risk
c) A liability exposure or a group benefits exposure
d) A public entity risk or a group benefits exposure Ans: c
Which of the following is a group benefit (not including Social
Security benefits) that some employers are required, by law, to
provide to their employees?
a) Life insurance
b) Health insurance
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c) Retirement annuities
d) Disability insurance Ans: b
Insurance that covers the "city hall" building would fall under what
common categorization of insurance?
a) Metropolitan insurance
b) Government insurance
c) State insurance
d) Public insurance Ans: d
Which types of insurers make up the majority of insurers in the
US?
a) Stock and mutual
b) Stock and Lloyd's of London
c) Mutual and Reciprocal
d) Mutual and Lloyd's of London Ans: a
One type of insurer involves members pooling their premiums to
jointly insure each other? Which type of insurer best fits this
description?
a) Stock insurers
b) Mutual insurers
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c) Reciprocals
d) Lloyd's of London Ans: c
Sometimes insurers will convert from one organizational form to
another in order to get access to capital. From what form to what
other form with they sometimes convert?
a) From a reciprocal to a mutual
b) From a stock to a mutual
c) From a mutual to a stock
d) From a reciprocal to a Lloyd's syndicate Ans: c
Which of the following makes up the most (in number) of the top
10 writers of property and casualty insurance in 2019?
a) Stock
b) Mutual
c) Reciprocal
d) Other Ans: a
Lloyd's of London is
a) An insurance company
b) Housed in New York City, NY
© 2025 All rights reserved
RMIN 2005: Final Questions and Correct
Answers
All EXCEPT which of the following is considered a commercial
property exposure?
a) Contents of your residential home
b) Business income
c) Damage to a commercial vehicle
d) Intellectual property Ans: a
Workers' compensation is commonly categorized as either.
a) A property exposure or a liability exposure
b) A property exposure or public entity risk
c) A liability exposure or a group benefits exposure
d) A public entity risk or a group benefits exposure Ans: c
Which of the following is a group benefit (not including Social
Security benefits) that some employers are required, by law, to
provide to their employees?
a) Life insurance
b) Health insurance
© 2025 All rights reserved
, 2 | Page
c) Retirement annuities
d) Disability insurance Ans: b
Insurance that covers the "city hall" building would fall under what
common categorization of insurance?
a) Metropolitan insurance
b) Government insurance
c) State insurance
d) Public insurance Ans: d
Which types of insurers make up the majority of insurers in the
US?
a) Stock and mutual
b) Stock and Lloyd's of London
c) Mutual and Reciprocal
d) Mutual and Lloyd's of London Ans: a
One type of insurer involves members pooling their premiums to
jointly insure each other? Which type of insurer best fits this
description?
a) Stock insurers
b) Mutual insurers
© 2025 All rights reserved
, 3 | Page
c) Reciprocals
d) Lloyd's of London Ans: c
Sometimes insurers will convert from one organizational form to
another in order to get access to capital. From what form to what
other form with they sometimes convert?
a) From a reciprocal to a mutual
b) From a stock to a mutual
c) From a mutual to a stock
d) From a reciprocal to a Lloyd's syndicate Ans: c
Which of the following makes up the most (in number) of the top
10 writers of property and casualty insurance in 2019?
a) Stock
b) Mutual
c) Reciprocal
d) Other Ans: a
Lloyd's of London is
a) An insurance company
b) Housed in New York City, NY
© 2025 All rights reserved
