RMIN 4000 EDMUNDS EXAM 2 ACTUAL 2026
QUESTIONS AND 100% CORRECT ANSWERS
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An arrangement by which the primary insurer (that initially writes the
insurance) transfers to another insurer (called the reinsurer) part or all of the
potential losses associated with such insurance
Choose an answer
1 major types of private insurers 2 reinsurance
3 insurance agent 4 assessment mutual
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Terms in this set (148)
major types of private insurers Stock, Mutual, and Lloyd's of London
, stock insurers corporation owned by stockholders.
objective is to earn profit for stockholders by
increasing the value of the stock and paying
dividends
Mutual insurers a corporation owned by policyholders. profits
are distributed to policyholders by dividends or
rate reductions
types of mutual insurers advance premium mutual, assessment mutual,
and fraternal insurer
assessment mutual insurer has the right to assess policyholders an
additional amount if the insurer's financial
operations are unfavorable
advance premium mutual insurer does not issue assessable policies
fraternal insurer a mutual insurer that provides life and health
insurance to members of a social or religious
organization
Lloyd's of London The world's leading insurance market that
provides services and physical facilities for its
members to write specialized lines of insurance.
They underwrite insurance for syndicates.
Is Lloyd's of London an insurer? No
Lloyd's of London brokers represent policyholders to arrange coverage
with syndicates
QUESTIONS AND 100% CORRECT ANSWERS
Save
Practice questions for this set
Learn 1 /7 Study with Learn
An arrangement by which the primary insurer (that initially writes the
insurance) transfers to another insurer (called the reinsurer) part or all of the
potential losses associated with such insurance
Choose an answer
1 major types of private insurers 2 reinsurance
3 insurance agent 4 assessment mutual
Don't know?
Terms in this set (148)
major types of private insurers Stock, Mutual, and Lloyd's of London
, stock insurers corporation owned by stockholders.
objective is to earn profit for stockholders by
increasing the value of the stock and paying
dividends
Mutual insurers a corporation owned by policyholders. profits
are distributed to policyholders by dividends or
rate reductions
types of mutual insurers advance premium mutual, assessment mutual,
and fraternal insurer
assessment mutual insurer has the right to assess policyholders an
additional amount if the insurer's financial
operations are unfavorable
advance premium mutual insurer does not issue assessable policies
fraternal insurer a mutual insurer that provides life and health
insurance to members of a social or religious
organization
Lloyd's of London The world's leading insurance market that
provides services and physical facilities for its
members to write specialized lines of insurance.
They underwrite insurance for syndicates.
Is Lloyd's of London an insurer? No
Lloyd's of London brokers represent policyholders to arrange coverage
with syndicates
