Exam (elaborations)
RMIN 4000 FINAL EXAM 100%Verified Questions and Answers 2024
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Peril - Cause of loss Risk - Uncertainty about chance, timing, or amount of loss Chance of Loss - Probability that an event will occur Objective Risk - The relative variation of actual loss from expected loss; (ActualExpected)/Expected; higher variation means higher risk Law of Large Numbers -...
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