RMIN 2005: Chapter 11-14 CATs Exam
Questions and Answers Graded A+
All EXCEPT which of the following is considered a commercial property
exposure?
a) Contents of your residential home
b) Business income
c) Damage to a commercial vehicle
d) Intellectual property - Correct answer-a
Workers' compensation is commonly categorized as either.
a) A property exposure or a liability exposure
b) A property exposure or public entity risk
c) A liability exposure or a group benefits exposure
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,d) A public entity risk or a group benefits exposure - Correct answer-c
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?
a) Life insurance
b) Health insurance
c) Retirement annuities
d) Disability insurance - Correct answer-b
Insurance that covers the "city hall" building would fall under what common
categorization of insurance?
a) Metropolitan insurance
b) Government insurance
c) State insurance
d) Public insurance - Correct answer-d
Which types of insurers make up the majority of insurers in the US?
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, a) Stock and mutual
b) Stock and Lloyd's of London
c) Mutual and Reciprocal
d) Mutual and Lloyd's of London - Correct answer-a
One type of insurer involves members pooling their premiums to jointly insure
each other? Which type of insurer best fits this description?
a) Stock insurers
b) Mutual insurers
c) Reciprocals
d) Lloyd's of London - Correct answer-c
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?
a) From a reciprocal to a mutual
©COPYRIGHT 2025, ALL RIGHTS RESERVED 3
Questions and Answers Graded A+
All EXCEPT which of the following is considered a commercial property
exposure?
a) Contents of your residential home
b) Business income
c) Damage to a commercial vehicle
d) Intellectual property - Correct answer-a
Workers' compensation is commonly categorized as either.
a) A property exposure or a liability exposure
b) A property exposure or public entity risk
c) A liability exposure or a group benefits exposure
©COPYRIGHT 2025, ALL RIGHTS RESERVED 1
,d) A public entity risk or a group benefits exposure - Correct answer-c
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?
a) Life insurance
b) Health insurance
c) Retirement annuities
d) Disability insurance - Correct answer-b
Insurance that covers the "city hall" building would fall under what common
categorization of insurance?
a) Metropolitan insurance
b) Government insurance
c) State insurance
d) Public insurance - Correct answer-d
Which types of insurers make up the majority of insurers in the US?
©COPYRIGHT 2025, ALL RIGHTS RESERVED 2
, a) Stock and mutual
b) Stock and Lloyd's of London
c) Mutual and Reciprocal
d) Mutual and Lloyd's of London - Correct answer-a
One type of insurer involves members pooling their premiums to jointly insure
each other? Which type of insurer best fits this description?
a) Stock insurers
b) Mutual insurers
c) Reciprocals
d) Lloyd's of London - Correct answer-c
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?
a) From a reciprocal to a mutual
©COPYRIGHT 2025, ALL RIGHTS RESERVED 3
