RMIN 5100S Test 1 Atkinson STUDY GUIDE
2026/2027 ACCURATE QUESTIONS WITH
CORRECT DETAILED ANSWERS ||
100% GUARANTEED PASS
<RECENT VERSION>
1. Risk Manager - ANSWER ✔ - "insured" buyer of insurance
- Larger companies will have one personal one
- Small to mid-sized companies will have someone else who serves this
role
- Must evaluate risks and determine the best approach to manage risks -
- including Loss Control, Retention and transfer techniques
2. Agent or Broker - ANSWER ✔ "Intermediary" Facilitates the purchase of
insurance. Advises insured. Negotiates with the insurer.
3. Independent Agent - ANSWER ✔ - The agent has contracts with several to
many companies
- More frequently used in Commercial P&C
4. Exclusive Agent - ANSWER ✔ - More frequently used in personal lines and
very small businesses
- Agents ONLY sell products for this insurance company.
5. Earthquake Risk control - ANSWER ✔ - Location and Design
- Most Design includes a rigid structure
- Some modern buildings sway
,6. Commercial property loss Exposure - ANSWER ✔ The possibility that a
business enterprise or another type of organization will sustain a loss
resulting from loss of or damage to property in which the organization has
financial interest.
7. Tangible Property Subdivisions - ANSWER ✔ Real Property
Personal Property
8. Real Property - ANSWER ✔ Tangible Property consisting of land, all
structures permanently attached to the land, and whatever is growing on the
land
9. Personal property - ANSWER ✔ ALL tangible or intangible property that is
NOT real property.
10.Net Income Loss Exposure - ANSWER ✔ the possibility of loss caused by a
reduction in Net Income.
11.The Engineering Approach - ANSWER ✔ attacks hazards by reviewing and
improving design and location of properties and equipment to reduce to
number of hazards
12.The Human Behavior Approach - ANSWER ✔ attacks hazards by
modifying people's behavior to reduce frequency of unsafe acts
13.Hostile Fire - ANSWER ✔ A fire that leaves its intended place
,14.Commercial Package policy (CPP) - ANSWER ✔ - a multiline policy
composed of two or more coverage parts, each coverage providing a
separate line of insurance
- Policy that covers two or more lines of business by combining ISO's
commercial line coverage parts
15.What does each coverage part of a CPP form consist of? - ANSWER ✔ -
One or more declarations forms
- One or more coverage forms
- For some lines of insurance, a general conditions form
- Any applicable endorsements
16.Insured definition - ANSWER ✔ (risk manager) the buyer of insurance
17.intermediary definition - ANSWER ✔ can be an agent or broker
facilitates the purchase of insurance. Advises the insured and negotiates with
insurer
18.Insurer - ANSWER ✔ underwriter, provides the insurance coverage aka:
insurance company
19.Risk management process- 6 steps - ANSWER ✔ 1. identify potential risks
2. measure and analyze these loss exposures
3. Examine feasibility of RM techniques
4. Select a technique/combination of techniques
5. Implement techniques
6. Monitor results and revise
, 20.Definition of an agent - ANSWER ✔ someone who legally represents the
principal and can act on its behalf.
21.Agents authority - ANSWER ✔ The principal is bound by the actions of the
agent when the agent is acting within the scope of their authority. *power to
bind coverage usually
22.Independent agent defintion - ANSWER ✔ agent works with a variety of
insurance companies. Has contracts with multiple companies and works to
find the coverage that is best suited for the client. *common in P&C
23.exclusive or captive agent - ANSWER ✔ works with only one insurance
company. It cannot sell products from other insurance companies. Usually
used in personal lines and small businesses.
24.captive insurance - ANSWER ✔ not "insurance". It is a form of retention
within a larger business. The risk is not transferred.
25.Similarities between agent and broker 3 - ANSWER ✔ 1. attempt to get the
best coverage with the most appropriate insurer
2. both can market to multiple ins companies
3. typically paid on commission
26.4 Characteristics of brokers - ANSWER ✔ 1. works on behalf of the
insurance buyer
2. Can work on any size of business
3. Wide breadth of services
4. Paid via commission or some form of this sometimes
2026/2027 ACCURATE QUESTIONS WITH
CORRECT DETAILED ANSWERS ||
100% GUARANTEED PASS
<RECENT VERSION>
1. Risk Manager - ANSWER ✔ - "insured" buyer of insurance
- Larger companies will have one personal one
- Small to mid-sized companies will have someone else who serves this
role
- Must evaluate risks and determine the best approach to manage risks -
- including Loss Control, Retention and transfer techniques
2. Agent or Broker - ANSWER ✔ "Intermediary" Facilitates the purchase of
insurance. Advises insured. Negotiates with the insurer.
3. Independent Agent - ANSWER ✔ - The agent has contracts with several to
many companies
- More frequently used in Commercial P&C
4. Exclusive Agent - ANSWER ✔ - More frequently used in personal lines and
very small businesses
- Agents ONLY sell products for this insurance company.
5. Earthquake Risk control - ANSWER ✔ - Location and Design
- Most Design includes a rigid structure
- Some modern buildings sway
,6. Commercial property loss Exposure - ANSWER ✔ The possibility that a
business enterprise or another type of organization will sustain a loss
resulting from loss of or damage to property in which the organization has
financial interest.
7. Tangible Property Subdivisions - ANSWER ✔ Real Property
Personal Property
8. Real Property - ANSWER ✔ Tangible Property consisting of land, all
structures permanently attached to the land, and whatever is growing on the
land
9. Personal property - ANSWER ✔ ALL tangible or intangible property that is
NOT real property.
10.Net Income Loss Exposure - ANSWER ✔ the possibility of loss caused by a
reduction in Net Income.
11.The Engineering Approach - ANSWER ✔ attacks hazards by reviewing and
improving design and location of properties and equipment to reduce to
number of hazards
12.The Human Behavior Approach - ANSWER ✔ attacks hazards by
modifying people's behavior to reduce frequency of unsafe acts
13.Hostile Fire - ANSWER ✔ A fire that leaves its intended place
,14.Commercial Package policy (CPP) - ANSWER ✔ - a multiline policy
composed of two or more coverage parts, each coverage providing a
separate line of insurance
- Policy that covers two or more lines of business by combining ISO's
commercial line coverage parts
15.What does each coverage part of a CPP form consist of? - ANSWER ✔ -
One or more declarations forms
- One or more coverage forms
- For some lines of insurance, a general conditions form
- Any applicable endorsements
16.Insured definition - ANSWER ✔ (risk manager) the buyer of insurance
17.intermediary definition - ANSWER ✔ can be an agent or broker
facilitates the purchase of insurance. Advises the insured and negotiates with
insurer
18.Insurer - ANSWER ✔ underwriter, provides the insurance coverage aka:
insurance company
19.Risk management process- 6 steps - ANSWER ✔ 1. identify potential risks
2. measure and analyze these loss exposures
3. Examine feasibility of RM techniques
4. Select a technique/combination of techniques
5. Implement techniques
6. Monitor results and revise
, 20.Definition of an agent - ANSWER ✔ someone who legally represents the
principal and can act on its behalf.
21.Agents authority - ANSWER ✔ The principal is bound by the actions of the
agent when the agent is acting within the scope of their authority. *power to
bind coverage usually
22.Independent agent defintion - ANSWER ✔ agent works with a variety of
insurance companies. Has contracts with multiple companies and works to
find the coverage that is best suited for the client. *common in P&C
23.exclusive or captive agent - ANSWER ✔ works with only one insurance
company. It cannot sell products from other insurance companies. Usually
used in personal lines and small businesses.
24.captive insurance - ANSWER ✔ not "insurance". It is a form of retention
within a larger business. The risk is not transferred.
25.Similarities between agent and broker 3 - ANSWER ✔ 1. attempt to get the
best coverage with the most appropriate insurer
2. both can market to multiple ins companies
3. typically paid on commission
26.4 Characteristics of brokers - ANSWER ✔ 1. works on behalf of the
insurance buyer
2. Can work on any size of business
3. Wide breadth of services
4. Paid via commission or some form of this sometimes
