RMIN 5100S Study guides, Class notes & Summaries

categories of commercial loss exposures (4) - 1. property 2. personnel 3. liability 4. net income commercial property loss exposures - type of property causes of loss to property financial consequences of property losses commercial property coverage part types of property - real and personal real property - land & buildings, all property permanently attached to buildings, driveways, sidewalks, underground piping, etc, plumbing, wiring, HVAC personal property - all property that is not...

RMIN 5100S Test 2 Brown QUESTIONS AND VERIFIED CORRECT ANSWERS 1. categories of commercial loss exposures (4)√√correct answer√√ 1. property 2. personnel 3. liability 4. net income 2. commercial property loss exposures√√correct answer√√ type of property causes of loss to property financial consequences of property losses commercial property coverage part 3. types of property√√correct answer√√ real and personal 4. real property√√correct answer√√ l...

Liability is the same as... - Casualty Risk Manager - Insured- the buyer of insurance; must evaluate risks and determine best approach to manage risks Agent or Broker - Intermediary- facilitates the purchase of insurance. Advance Insured. Negotiates with insurer Underwriter - Insurer- provides insurance coverage aka the insurance company

Insured definition - (risk manager) the buyer of insurance intermediary definition - can be an agent or broker facilitates the purchase of insurance. Advises the insured and negotiates with insurer Insurer - underwriter, provides the insurance coverage aka: insurance company Risk management process- 6 steps - 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 techniqu...

RMIN 5100S Exam 2 Questions and Answers 100% Solved 1. Types of property 2. Causes of loss to property 3. Financial consequences of property losses 3 considerations for commercial property loss exposures. 1. Real Property 2. Personal Property 2 types of property. Real Property Land & buildings, all property permanently attached to buildings, driveways, sidewalks, underground piping, etc, and plumbing, wiring, and HVAC. Personal Property All property that is not real property. 1. ...

QUESTIONS AND ANSWERS

QUESTIONS AND ANSWERS

1. categories of commercial loss exposures: property, personnel, liability, netincome loss 2. property loss: - tangible: personal property, real estate -intangible: patent, copyright 3. personnel loss: death, disability, injury, retirement 4. liability loss: your responsibility to someone else for property damage, bodilyinjury, or net income loss

RMIN 5100S exam 2 study guide |Questions with 100% Correct Answers | Verified | Latest Update 2024 Graded A+