RMIN 4000 EDMUNDS EXAM 3 ACTUAL 2026
QUESTIONS AND 100% CORRECT ANSWERS
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Practice questions for this set
Learn 1 /7 Study with Learn
estate clearing fund, 1-2 year readjustment period, dependency period for
children, income for surviving spouse, special needs (college education,
etc.) and retirement needs for surviving spouse
Choose an answer
what should the needs approach
1 basic parts of an insurance contract 2
calculation consider
3 named insured 4 insuring agreement
Don't know?
Terms in this set (124)
, basic parts of an insurance contract declarations, definitions, insuring agreement,
exclusions, conditions, and miscellaneous
provisions
declarations statements that provide information about the
particular property or activity to be insured
what does the declarations page name and address, policy dates, amount of
usually contain insurance, premium and deductible, and other
relevant info
definitions key words or phrases are defined so that
coverage under the policy can be determined
more easily (insurer-"we,us,out" vs. insured-
"you,your")
insuring agreement summary of the major promises of the insurer
(what is covered)
named perils only perils specifically named in the policy are
covered
open perils (All Risk, Special all perils are covered except for those that are
Coverage) specifically excluded
exclusions perils or property that are not covered under the
policy
why are exclusions necessary certain perils are considered uninsurable like war
and wear and tear
QUESTIONS AND 100% CORRECT ANSWERS
Save
Practice questions for this set
Learn 1 /7 Study with Learn
estate clearing fund, 1-2 year readjustment period, dependency period for
children, income for surviving spouse, special needs (college education,
etc.) and retirement needs for surviving spouse
Choose an answer
what should the needs approach
1 basic parts of an insurance contract 2
calculation consider
3 named insured 4 insuring agreement
Don't know?
Terms in this set (124)
, basic parts of an insurance contract declarations, definitions, insuring agreement,
exclusions, conditions, and miscellaneous
provisions
declarations statements that provide information about the
particular property or activity to be insured
what does the declarations page name and address, policy dates, amount of
usually contain insurance, premium and deductible, and other
relevant info
definitions key words or phrases are defined so that
coverage under the policy can be determined
more easily (insurer-"we,us,out" vs. insured-
"you,your")
insuring agreement summary of the major promises of the insurer
(what is covered)
named perils only perils specifically named in the policy are
covered
open perils (All Risk, Special all perils are covered except for those that are
Coverage) specifically excluded
exclusions perils or property that are not covered under the
policy
why are exclusions necessary certain perils are considered uninsurable like war
and wear and tear
