RMI3011-Exam 2 questions with verified answers
graded A+ already passed
1. In module 7 we discussed some
I,II, and III
insurance regulation basics. Which of
the following are true?
I. Insurance is regulated at the state
level
II. The National Association of Insurance
Com- missioners (NAIC) drafts model
laws
III. The insurance commissioners are
charged with enforcing the laws Complex legal contracts
2. In module 7 we discussed insurance
regula- tion. Why is insurance
regulated?
3. In module 7 we discussed state vs federal regu- State regulation is more
flexible and
lation. Arguments for state regulation include: can respond more quickly to
local is-
sues
4. In module 7 we discussed insurance parts of
regula- tion. Which of the following are insurance opera-
true regarding regulating solvency? tions are
I. Ensure that insurer is holding enough regulated?
capital to minimize likelihood of
bankruptcy
II. Manage guaranty funds
III. Liquidate insolvent insurers
5. In module 7 we discussed
responsibilities of regulators. Which
,RMI3011-Exam 2 questions with verified answers
graded A+ already passed
I,II, and III
Virtually all aspects of insurers
are regulated
6. In module 7, when discussing the regulation of (All of the above)
rates we discussed the basic requirements of
-Rates should be adequate
rate regulation. They include: -Rates should not be excessive
-Rates should encourage loss con-
,RMI3011-Exam 2 questions with verified answers
graded A+ already passed
trol
-Rates should allocate cost
burden fairly among insureds
7. In module 7, when discussing the Twisting
regulation of agents activities, some
banned agent activ- ities
include:
8. In module 7, when discussing regulating (All of the above)
con- tract provisions, the regulator is -Deceptive language
responsible for -Misleading language
protecting the public against: -Unfair contract provisions
9. In module 7, regulation of insurance, (None of the above)
we dis- cussed the effects of
regulation. One of the effects
of regulation is:
Availability
10. In module 7, regulation of insurance, we
dis- cussed where regulation is going.
One area of insurance that may be more
of a focus of reg- ulation going forward
is:
11. In module 8 examples of government provided Social Security
personal insurance include:
12. In module 8 we discussed major
classifica- tion of insurance, insur- ance cover
insurance perils that
cov- ers the destroy property
risk of individuals while
,RMI3011-Exam 2 questions with verified answers
graded A+ already passed
personal; property
graded A+ already passed
1. In module 7 we discussed some
I,II, and III
insurance regulation basics. Which of
the following are true?
I. Insurance is regulated at the state
level
II. The National Association of Insurance
Com- missioners (NAIC) drafts model
laws
III. The insurance commissioners are
charged with enforcing the laws Complex legal contracts
2. In module 7 we discussed insurance
regula- tion. Why is insurance
regulated?
3. In module 7 we discussed state vs federal regu- State regulation is more
flexible and
lation. Arguments for state regulation include: can respond more quickly to
local is-
sues
4. In module 7 we discussed insurance parts of
regula- tion. Which of the following are insurance opera-
true regarding regulating solvency? tions are
I. Ensure that insurer is holding enough regulated?
capital to minimize likelihood of
bankruptcy
II. Manage guaranty funds
III. Liquidate insolvent insurers
5. In module 7 we discussed
responsibilities of regulators. Which
,RMI3011-Exam 2 questions with verified answers
graded A+ already passed
I,II, and III
Virtually all aspects of insurers
are regulated
6. In module 7, when discussing the regulation of (All of the above)
rates we discussed the basic requirements of
-Rates should be adequate
rate regulation. They include: -Rates should not be excessive
-Rates should encourage loss con-
,RMI3011-Exam 2 questions with verified answers
graded A+ already passed
trol
-Rates should allocate cost
burden fairly among insureds
7. In module 7, when discussing the Twisting
regulation of agents activities, some
banned agent activ- ities
include:
8. In module 7, when discussing regulating (All of the above)
con- tract provisions, the regulator is -Deceptive language
responsible for -Misleading language
protecting the public against: -Unfair contract provisions
9. In module 7, regulation of insurance, (None of the above)
we dis- cussed the effects of
regulation. One of the effects
of regulation is:
Availability
10. In module 7, regulation of insurance, we
dis- cussed where regulation is going.
One area of insurance that may be more
of a focus of reg- ulation going forward
is:
11. In module 8 examples of government provided Social Security
personal insurance include:
12. In module 8 we discussed major
classifica- tion of insurance, insur- ance cover
insurance perils that
cov- ers the destroy property
risk of individuals while
,RMI3011-Exam 2 questions with verified answers
graded A+ already passed
personal; property
