RMIN 2005 Final Exam Questions and
Answers Graded A+
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 - Correct answer-Contents of your home
Workers compensation is considered either - Correct answer-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? - Correct answer-Health insurance
Insurance that covers city buildings - Correct answer-Public insurance
"If you drive you must purchase auto liability insurance" is an example of which
type of insurance - Correct answer-Involuntary insurance
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, Sometimes mutual companies will convert to stock companies. The main reason
for this is usually - Correct answer-To get access to immediate capital
_________ Have to sell more policies to get more capital - Correct answer-Mutual
Type of insurer that involves members pulling their premiums together and hiring
an attorney in fact to manage their risks - Correct answer-Reciprocals
Where are the shares of stock insurers in the top 10 of property and casualty
insurance riders in 2019 traded? - Correct answer-On the NYSE
Lloyds of London is an insurance company - Correct answer-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 - Correct answer-They are the Lloyd's investors
What is the closest to the equivalent of "the insurance company" at Lloyd's -
Correct answer-A syndicate
Life insurers like to market directly for which one of the following reasons -
Correct answer-They want to maintain control over Sailes
©COPYRIGHT 2025, ALL RIGHTS RESERVED 2
Answers Graded A+
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 - Correct answer-Contents of your home
Workers compensation is considered either - Correct answer-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? - Correct answer-Health insurance
Insurance that covers city buildings - Correct answer-Public insurance
"If you drive you must purchase auto liability insurance" is an example of which
type of insurance - Correct answer-Involuntary insurance
©COPYRIGHT 2025, ALL RIGHTS RESERVED 1
, Sometimes mutual companies will convert to stock companies. The main reason
for this is usually - Correct answer-To get access to immediate capital
_________ Have to sell more policies to get more capital - Correct answer-Mutual
Type of insurer that involves members pulling their premiums together and hiring
an attorney in fact to manage their risks - Correct answer-Reciprocals
Where are the shares of stock insurers in the top 10 of property and casualty
insurance riders in 2019 traded? - Correct answer-On the NYSE
Lloyds of London is an insurance company - Correct answer-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 - Correct answer-They are the Lloyd's investors
What is the closest to the equivalent of "the insurance company" at Lloyd's -
Correct answer-A syndicate
Life insurers like to market directly for which one of the following reasons -
Correct answer-They want to maintain control over Sailes
©COPYRIGHT 2025, ALL RIGHTS RESERVED 2
