Practice Quiz 2

Practice Quiz 2 - Practice Quiz 2 3/29/12 6:05 PM Campuses:...

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3/29/12 6:05 PM Practice Quiz 2 Page 1 of 3 https://moodle2.umn.edu/mod/quiz/review.php?attempt=202964 You are logged in as Minh Hoang ( Logout ) Home My courses INS4200_020S12 Week 2 March 29 Practice Quiz 2 Review of attempt 2 Campuses: Twin Cities Crookston Duluth Morris Rochester Other Locations myMoodle | Email | myU | Library | One Stop | Support site INS 4200 Insurance Theory and Practice (sec 020) Spring 2012 1 Marks: 1.00 Choose one answer. a. Issue a mid-term broker-of-record letter to each intermediary b. Assign insurers to specified producers with broker-of-record letters c. Ask each producer to provide bids from the same insurance companies d. Use a surplus lines broker to serve as a coordinator for all her intermediaries e. Require that each producer be an exclusive agent Frances, the risk manager at Fred’s Fish Market is concerned that she is not getting the optimal services from her current insurance intermediary. She would like to investigate whether several other intermediaries might be able to provide superior products and services. However, she recognizes that the supply of insurers is limited and wants to give each intermediary a fair opportunity to demonstrate their quality. The best method Frances can use to achieve this goal is: Correct Marks for this submission: 1.00/1.00. 2 Marks: 1.00 Choose one answer. a. That George’s premiums will always be higher that those available in the standard market b. That this insurer is not restricted to issuing state regulator approved forms and rates c. That George can save some premium by working directly with the surplus lines broker d. The nonadmitted insurer cannot offer the same protection as is available from the standard markets
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Practice Quiz 2 - Practice Quiz 2 3/29/12 6:05 PM Campuses:...

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