Risk and uncertainty Study guides, Revision notes & Summaries

Risk - correct answerThe chance or uncertainty of loss. Methods of Managing Risk - correct answer1. Avoid risk 2. Control risk 3. Retain a risk 4. Transfer a risk Avoid Risk - correct answerNever get into a car. Control Risk - correct answerTraining workers in the safe use of welding tools, or installing a sprinkler system in a factory. Retain a Risk - correct answerIf any loss occurs, people will pay for it themselves. Transfer a Risk - correct answerUse a Hold Harmless Agreem...

Perils correct answer: the cause of loss Policy Owner correct answer: the person who has the rights and privileges in the policy Risk correct answer: Uncertainty or chance of loss -Pure Risk(Insurable) -Speculative(Uninsurable) Insured correct answer: the person covered by the insurance policy insurer correct answer: a company that issues an insurance policy Law of large numbers correct answer: the larger the number of people with the same exposure to loss, the more predic...

2024 RIMS - CRMP Complete Study Guide; 1 Analyze the Business Model, 2 Developing Organizational Risk Strategies, 3 RIMS CRMP-Implementing the Risk Process, 4 Developing Organizational Risk Management Competency, 5 Supporting Decision Making Risks The effect of uncertainty on objectives The chance of something happening that will have an impact on objectives Being prepared for the worst and being poised to exploit opportunities as they are discovered Enterprise Risk Management ...

NY Series 17-52 Questions and Answers 100% Pass How many eligible employees must be included in a contributory health insurance plan? 50% A man works for Company A and his wife works for Company B. The spouses are covered by health plans through their respective companies that also cover the other spouse. If the husband files a claim, The insurance through his company is primary. What is the period of coverage for events such as death or divorce under COBRA? 36 months Twenty-five days after ...

Risk management Exam 1 driver (updated - 2024) || Complete Solutions (100% Correct) Risk management Exam 1 driver (updated - 2024) || Complete Solutions (100% Correct) types of risk - ANSWER - Pure risk Speculative risk Subjective risk pure risk - ANSWER - Simply no loss or loss *insurance companies only deal with spectulative risk - ANSWER - loss or no loss or potential gain subjective risk - ANSWER - our attitudes towards risk (risk tolerance) *more difficult than pure and spe...

Provides a measure of the maximum potential damage associated with an occurrence - Answer- exposure ________________ is an essential goal for all public entities - Answer- continuity of operations An organization must meet the standard of care that it owes to others in order to ensure that... - Answer- legal obligations are satisfied What are the five steps of the risk management process? - Answer- - scan environment - identify risk - analyze risk - treat risk - monitor and review ...

PLC2602 Assignment 1 (COMPLETE ANSWERS) Semester 2 2024 (751936) -DUE 19 August 2024 100% TRUSTED workings, explanations and solutions. For assistance call or us on . SECTION A: MULTIPLE CHOICE QUESTIONS QUESTION 1 Please indicate whether this statement is true or false. If public policy is the policy of government, it follows that public policy can be applied to even the most undemocratic forms of government such as totalitarianism and authoritarianism. a. True b. False PLC2602...

Test Bank for International Financial Management 14e 14th Edition by Jeff Madura. ISBN-13: 0544 Full Chapters test bank included Part 1: The International Financial Environment Chapter 1: Multinational Financial Management: An Overview 1-1 Managing the MNC 1-2 Why MNCs Pursue International Business 1-3 Methods to Conduct International Business 1-4 Valuation Model for an MNC 1-5 Organization of the Text Summary Point/Counterpoint Self-Test Questions and Applications Blades, Inc...

Indemnity - ANSWER-a payment for damages or loss Risk - ANSWER-Uncertainty or chance of loss occurring Pure Risk - ANSWER-Presents the chance of loss with no opportunity for gain Speculative Risk - ANSWER-Presents the chance of loss with an opportunity to gain (Like Gambling) Exposure - ANSWER-a unit of measurement used to determine rates charged for insurance coverages. Hazards - ANSWER-Conditions or situations that increase the probability of an insured loss occurring. Peril ...

ASAP Exam 2024 (Questions and answers) 100% scores Twenty-first century business leaders must be able to: a. Bring out the best in a diverse workforce b. Minimize change and uncertainty c. Identify the best way to complete work tasks d. Access the greatest amount of information possible e. All the above - CORRECT ANSWER-a. Bring out the best in a diverse workforce (220) Intelligent risk-taking relies on a mindset that allows for: a. Mistakes b. Failure c. Success d. All the above ...