A.R.M. 400 Combined Papers with Complete Exam Practice Questions with 100% Correct Answers

According to the law of large numbers, as the number of exposure units insured increases, Correct Answer The relative accuracy of predictions about future losses increases The fundamental purpose of a risk management framework is to Correct Answer Integrate risk management throughout the organiza...

Which of the following risk management program goals is an essential goal for all public entities? Correct Answer Continuity of operations The fundamental purpose of a risk management framework is to Correct Answer Integrate risk management throughout the organization. Which one of the followi...

Big Data Correct Answer Set of data that are too large to be gathered and analysed by traditional data. Strategic Redeployment Plan Correct Answer a comprehensive plan for resiliency after a severe disruption Business Impact Analysis (BIA) Correct Answer assesses identified risks and determine...

Organizational Resiliency Correct Answer a holistic approach that allows companies to better withstand short-term shocks to help ensure long-term business viability Business Continuity Management Correct Answer root lie in emergency preparedness and response planning. uses a multifaceted approach...

Encouraging the expression of feelings as well as facts and following up with employees on the problems they report are two ways that managers and supervisors can A. Cultivate two-way communication. B. Facilitate active listening. C. Support diverse groups. D. Maintain control of the conversatio...

Risktech Correct Answer Risk monitoring and mitigation technology Focus on making risk financing more efficient to include how to prevent and mitigate risk in a variety of industries. Emerging technilogies coupled with smart products. Insurtech Correct Answer The use of emerging technologies ...

What two things lie at the base of every risk management concept Correct Answer the intersection of different types of risk A method for identifying, assessing, and treating all risks Traditional risk assessment techniques focus on what Correct Answer root cause analysis - which identifies a los...

SRP stages Correct Answer -emergency stage -alternative marketing stage -contingency production stage -communication stage strategic redeployment plan Correct Answer determines how to resume operations in a way that repairs an org's reputation and ensures its recovery and survival; when BCPs ...

Benefits of risk management (6) Correct Answer 1. tolerable uncertainty 2. profitability and growth 3. legal and regulatory compliance 4. social responsibility 5. reduced cost of risk 6. reduced deterrent effects of hazard risk Basic risk measures (6) Correct Answer 1. exposure 2. volatilit...

Traditional Risk Management (TRM) Correct Answer - Risks are evaluated in a "silo" approach - Losses are usually insurable, pure risks -focus on cost reduction rather than value creation -root cause analysis (RCA) approach ERM Correct Answer Enterprise Risk Management Enterprise Risk Mana...

The fundamental purpose of a risk management framework is to Correct Answer Integrate risk management throughout the organization Company G is a manufacturer of high profile golf equipment. The risk management professional for Company G is concerned about loss of business related to product desig...