RMIN FINAL EXAM 2025 QUESTIONS
AND ANSWERS
All of the following would be considered a commercial property exposure except
A) Business income
B)damage to your company truck
C) contents of your home
D) the desk in your office building - ANS Contents of your home
Workers compensation is considered either - ANS A liability or group benefits exposure
Which of the following is a group benefit that some employers are required by law to provide
their employees? - ANS Health insurance
Insurance that covers city buildings - ANS Public insurance
"If you drive you must purchase auto liability insurance" is an example of which type of
insurance - ANS Involuntary insurance
Sometimes mutual companies will convert to stock companies. The main reason for this is
usually - ANS To get access to immediate capital
_________ Have to sell more policies to get more capital - ANS Mutual
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, Type of insurer that involves members pulling their premiums together and hiring an attorney
in fact to manage their risks - ANS Reciprocals
Where are the shares of stock insurers in the top 10 of property and casualty insurance riders in
2019 traded? - ANS On the NYSE
Lloyds of London is an insurance company - ANS False
All of the following are true about Lloyds managing agent except
A) there are fewer managing agents than there are syndicates
B) the managing agents are like the employees of the Lloyds syndicates
C) Lloyds has around 50 managing agents
D) they are the Lloyd's investors - ANS They are the Lloyd's investors
What is the closest to the equivalent of "the insurance company" at Lloyd's - ANS A syndicate
Life insurers like to market directly for which one of the following reasons - ANS They want
to maintain control over Sailes
Direct writer is also known as a "captive agent" - ANS True
Which of the following companies used direct writers to market their policies - ANS State
farm
An agent that is authorized to represent several different insurance companies and has limited
binding authority - ANS An independent agent
Copyright ©2025 BRIGHTSTARS ALL RIGHTS RESERVED 2
AND ANSWERS
All of the following would be considered a commercial property exposure except
A) Business income
B)damage to your company truck
C) contents of your home
D) the desk in your office building - ANS Contents of your home
Workers compensation is considered either - ANS A liability or group benefits exposure
Which of the following is a group benefit that some employers are required by law to provide
their employees? - ANS Health insurance
Insurance that covers city buildings - ANS Public insurance
"If you drive you must purchase auto liability insurance" is an example of which type of
insurance - ANS Involuntary insurance
Sometimes mutual companies will convert to stock companies. The main reason for this is
usually - ANS To get access to immediate capital
_________ Have to sell more policies to get more capital - ANS Mutual
Copyright ©2025 BRIGHTSTARS ALL RIGHTS RESERVED 1
, Type of insurer that involves members pulling their premiums together and hiring an attorney
in fact to manage their risks - ANS Reciprocals
Where are the shares of stock insurers in the top 10 of property and casualty insurance riders in
2019 traded? - ANS On the NYSE
Lloyds of London is an insurance company - ANS False
All of the following are true about Lloyds managing agent except
A) there are fewer managing agents than there are syndicates
B) the managing agents are like the employees of the Lloyds syndicates
C) Lloyds has around 50 managing agents
D) they are the Lloyd's investors - ANS They are the Lloyd's investors
What is the closest to the equivalent of "the insurance company" at Lloyd's - ANS A syndicate
Life insurers like to market directly for which one of the following reasons - ANS They want
to maintain control over Sailes
Direct writer is also known as a "captive agent" - ANS True
Which of the following companies used direct writers to market their policies - ANS State
farm
An agent that is authorized to represent several different insurance companies and has limited
binding authority - ANS An independent agent
Copyright ©2025 BRIGHTSTARS ALL RIGHTS RESERVED 2
