RMIN 2005 Chapter 11 Exam Questions
and Answers Graded A+
All EXCEPT which of the following is considered a commercial property
exposure?
-Contents of your residential home
-Business income
-Damage to a commercial vehicle
-Intellectual property - Correct answer-Contents of your residential home
Workers compensation is commonly categorized as either - Correct answer-A
liability exposure or a group benefits exposure
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? - Correct
answer-Health Insurance
Insurance that covers the "city hall" building would fall under what common
categorization of insurance? - Correct answer-Public insurance
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, Which types of insurers make up the majority of insurers in the US? - Correct
answer-Stock and Mutual
One type of insurer involves members pooling their premiums to jointly insure
each other? Which type of insurer best fits this description? - Correct answer-
Reciprocals
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? - Correct answer-From a mutual to a stock
Where are the shares of the stock insurers in the top 10 of property and casualty
insurance writers in 2019 traded? - Correct answer-On the NYSE
What type of risk would a Lloyd's syndicate be likely to insure? - Correct answer-
An oil company's liability
What is closest to the equivalent of "the insurance company" at Lloyds? - Correct
answer-A syndicate
Which of the following is NOT an example of a risks Lloyd's would likely write? -
Correct answer-Long-term care exposures
Which of the following is true of Lloyd's members?
They are the insureds
©COPYRIGHT 2025, ALL RIGHTS RESERVED 2
and Answers Graded A+
All EXCEPT which of the following is considered a commercial property
exposure?
-Contents of your residential home
-Business income
-Damage to a commercial vehicle
-Intellectual property - Correct answer-Contents of your residential home
Workers compensation is commonly categorized as either - Correct answer-A
liability exposure or a group benefits exposure
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? - Correct
answer-Health Insurance
Insurance that covers the "city hall" building would fall under what common
categorization of insurance? - Correct answer-Public insurance
©COPYRIGHT 2025, ALL RIGHTS RESERVED 1
, Which types of insurers make up the majority of insurers in the US? - Correct
answer-Stock and Mutual
One type of insurer involves members pooling their premiums to jointly insure
each other? Which type of insurer best fits this description? - Correct answer-
Reciprocals
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? - Correct answer-From a mutual to a stock
Where are the shares of the stock insurers in the top 10 of property and casualty
insurance writers in 2019 traded? - Correct answer-On the NYSE
What type of risk would a Lloyd's syndicate be likely to insure? - Correct answer-
An oil company's liability
What is closest to the equivalent of "the insurance company" at Lloyds? - Correct
answer-A syndicate
Which of the following is NOT an example of a risks Lloyd's would likely write? -
Correct answer-Long-term care exposures
Which of the following is true of Lloyd's members?
They are the insureds
©COPYRIGHT 2025, ALL RIGHTS RESERVED 2
