Cisr risk management Study guides, Class notes & Summaries

CISR - Elements of Risk Management Exam Questions With Verified Answers A ____ is a cause of loss - answerperil A situation, behavior, or condition that may lead to adverse financial consequences - answerexposure A cyberattack is an example of a ____ - answerperil An Insured who shows no regard for his insured property demonstrates a - answermorale hazard A spill on a supermarket aisle is an example of a ____ because it increases the likelihood that someone will fall - answerhazard A p...

CISR: Agency Operations| 100 Questions| ATypes of Stakeholders - ANSWER managers and employees customers insurers vendors industry associations government Transfer - ANSWER Insurance: transfer of financial consequence to an insurance company Non Insurance: when a customer transfers financial consequences to another by contract or agreement Retention - ANSWER Active: when a customer knows before the loss that they are responsible for all or part of the loss Passive: Whoops! when a c...

CISR: Agency Operations Exam 100 Questions with Answers100% CORRECT 2023 Types of Stakeholders - Answer - managers and employees Customers insurers vendors industry associations government Transfer - Answer - Insurance: transfer of financial consequence to an insurance company Non Insurance: when a customer transfers financial consequences to another by contract or agreement Retention - Answer - Active: when a customer knows before the loss that they are responsible for all or pa...

CISR Agency Operations Self Quiz Latest Update Graded A+ Which one of the following best describes actual authority? When the agency is expressly given authority in the agency contract Which one of the following statements best describes the standard of care an insurance agency owes an insurance company? Loyalty, good faith, reasonable care and contractual duties Which one of the following is not one of the four benefits of ethical behavior? thical behavior encourages governmental...

A ____ is a cause of loss - peril A situation, behavior, or condition that may lead to adverse financial consequences - exposure A cyberattack is an example of a ____ - peril An Insured who shows no regard for his insured property demonstrates a - morale hazard A spill on a supermarket aisle is an example of a ____ because it increases the likelihood that someone will fall - hazard A passenger enters an elevator. His clothing is caught in the elevator door as the door closes. The passen...

CISR - Elements of Risk Management Exam Questions With Verified Answers A ____ is a cause of loss - answerperil A situation, behavior, or condition that may lead to adverse financial consequences - answerexposure A cyberattack is an example of a ____ - answerperil An Insured who shows no regard for his insured property demonstrates a - answermorale hazard A spill on a supermarket aisle is an example of a ____ because it increases the likelihood that someone will fall - answerhazard A p...

CISR Agency Operations Self Quiz with 100% Correct Solutions Which one of the following best describes actual authority? - Correct Answer ️️ -When the agency is expressly given authority in the agency contract Which one of the following statements best describes the standard of care an insurance agency owes an insurance company? - Correct Answer ️️ -Loyalty, good faith, reasonable care and contractual duties Which one of the following is not one of the four benefits of ethical beh...

A ____ is a cause of loss - Answer peril A situation, behavior, or condition that may lead to adverse financial consequences - Answer exposure A cyberattack is an example of a ____ - Answer peril An Insured who shows no regard for his insured property demonstrates a - Answer morale hazard A spill on a supermarket aisle is an example of a ____ because it increases the likelihood that someone will fall - Answer hazard A passenger enters an elevator. His clothing is caught in the elevator doo...

A ____ is a cause of loss - Answer-peril A situation, behavior, or condition that may lead to adverse financial consequences - Answer-exposure A cyberattack is an example of a ____ - Answer-peril An Insured who shows no regard for his insured property demonstrates a - Answer-morale hazard A spill on a supermarket aisle is an example of a ____ because it increases the likelihood that someone will fall - Answer-hazard A passenger enters an elevator. His clothing is caught in the elevator doo...

CISR Elements of Risk Management (EORM) Lesson 1 Topics A & B Exam Risk control - CORRECT ANSWER An action step of risk management Financing - CORRECT ANSWER Obtaining insurance to pay for Wokers Comp losses illustrates a step of the risk management process Identification - CORRECT ANSWER The step of the risk management process where a risk manager reviews accident reports in order to determine the organizations exposures. Risk analysis - CORRECT ANSWER Using industry data to determine...