RMI 3011

RMI 3011 Chapter 11 - Health Insurance RMI 3011 Florida State University -Question and answers 100% correct The US health-care delivery system has four major problems: - correct answer Rising health-care expenditures Large number of uninsured in the population Uneven quality of medical care Considerable waste and inefficiency Defects in financing health care Abusive insurer practices Problem 1: Rising Health-Care Expenditures - correct answer Health-care expenditures in the US have ...

RMI 3011 final exam RMI 3011 Florida State University -Question and answers rated A+ annuity - correct answer periodic pmt that continues for fixed pd or duration of designated life annuitant - correct answer recs pmts annuity reduces risk of - correct answer living too long annuity if the opposite of - correct answer LI 1. fixed annuity - correct answer guaranteed and fixed amt accumulation pd - correct answer prior to retirement guaranteed rate - correct answer ...

RMI 3011 Quiz 4 Keith Jones Ch. 6 and Speaker RMI 3011 Florida State University -Presentations with complete solution declarations - correct answer customizes the policy to the insured (unique to that particular policy) Lists details such as: - policyholder name/address - policy number - effective dates - limit - deductible - premium declarations - correct answer depending on policy type, may also include: - mortgagees - building details - vehicle details (description, VIN) - ...

RMI 3011 Exam 4 Health Insurance - Melvin Stith RMI 3011 Florida State University -Question and answers 100% correct 4 major problems of the US Healthcare delivery system - correct answer 1. rising healthcare expenditures 2. large number of uninsured in the population 3. considerable waste and inefficiency 4. harmful insurer practices Why are healthcare expenditures rising? - correct answer - advances in technology - cost insulation because of third-party payers - employer-spon...

RMI3011 Exam 1 FSU RMI 3011 Florida State University -Question and answers rated A+ Traditionally, risk has been defined as A) any situation in which the probability of loss is one. B) any situation in which the probability of loss is zero. C) uncertainty concerning the occurrence of loss. D) the probability of a loss occurring - correct answer C) uncertainty concerning the occurrence of loss. Objective risk is defined as A) the probability of loss. B) the relative variation of actua...

FSU RMI 3011 EXAM 1 RMI 3011 Florida State University - Question and answers 100% correct Cost Benefit Analysis - correct answer Increase spending one element reduce spending on another element - consider direct and indirect - Spend until cost outweighs benefit - time value of money Indirect Loss - correct answer Financial loss arising from loss of use of property Property Risk - correct answer - Direct loss - Indirect loss Types of property - correct answer -Real pro...

RMI 3011: Chapter 4 RMI 3011 Florida State University -Questions with complete solution What are the main reasons for insurance regulation? - correct answer Maintain insurer solvency Compensate for inadequate consumer knowledge Ensure Reasonable Rates Make insurance available How can we maintain insurer solvency? - correct answer Pay premiums in advance When insurer becomes insolvent certian social/economic costs are incurred (Loss of jobs by insurance comoanies Why is it importa...

RMI 3011 Quiz 2 RMI 3011 Florida State University -Questions with complete solution Insurance is a Contract of ____________________ - correct answer indemnity What is indemnity? - correct answer Try to put you in the same position financially after loss as you enjoyed before the loss Exceptions to Indemnity - correct answer valued policy, valued policy laws, replacement cost insurance, life insurance What is an Insurance interest? - correct answer You must own the item you lost...

RMI 3011 Ch. 11 Study Guide RMI 3011 Florida State University -Questions with complete solution What are the 6 major problems with the health-care delivery system? - correct answer 1. Rising health-care expenditures 2. Large number of uninsured in the population 3. Uneven quality of medical care 4. Considerable waste and inefficiency 5. Defects in financing health care 6. Abusive insurer practices US Health Care Problem #1 - correct answer Rising Health-Care Expenditures How much...

Final Exam RMI 3011 Florida State University - Question and answers correctly solved Which of the following is a basic characteristic of insurance? A) pooling of losses B) avoidance of risk C) payment of intentional losses D) certainty about specific losses that will occur Answer: A 2 Which of the following is implied by the pooling of losses? A) sharing of losses by an entire group B) inability to predict losses with any degree of accuracy C) substitution of actual loss for average l...