100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
ARM 400 NEWEST EXAM PRACTICE | 250+ ACTUAL QUESTIONS AND ANSWERS VERIFIED BY EXPERT | LATEST UPDATE 2024 $22.99
Add to cart
Quickly navigate to
Preview
  2.  
  3. ARM 400
  4.  
  5. ARM 400

Exam (elaborations)

ARM 400 NEWEST EXAM PRACTICE | 250+ ACTUAL QUESTIONS AND ANSWERS VERIFIED BY EXPERT | LATEST UPDATE 2024

3 reviews
 3 purchases
  • Course
  • ARM 400
  • Institution
  • ARM 400

ARM 400 NEWEST EXAM PRACTICE | 250+ ACTUAL QUESTIONS AND ANSWERS VERIFIED BY EXPERT | LATEST UPDATE 2024

Preview 4 out of 80  pages

Document information

  • May 31, 2024
  • 80
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers

Subjects

Written for

  • ARM 400
  • ARM 400

3  reviews

review-writer-avatar

By: ProLabs • 7 months ago

review-writer-avatar

By: stuuviaa • 8 months ago

review-writer-avatar

By: MEGAMINDS • 8 months ago

GREAT DOC!!

Seller

avatar-seller
TheAlphanurse

Reviews received

Content preview

ARM 400 NEWEST EXAM PRACTICE | 250+ ACTUAL
QUESTIONS AND ANSWERS VERIFIED BY EXPERT | LATEST
UPDATE 2024
Question 1

Which of the following is the most effective risk control technique for
addressing a high-frequency, low-severity loss exposure?

a. Loss prevention: This technique aims to reduce the frequency of loss, such as
implementing safety training programs to prevent workplace accidents.

b. Loss reduction: This technique aims to reduce the severity of losses that do
occur, such as installing fire sprinklers to minimize fire damage.

c. Risk transfer: This involves transferring the risk to another party, such as
purchasing insurance.

d. Risk avoidance: This involves eliminating the risk entirely, such as
discontinuing a hazardous activity.

Answer: a. Loss prevention

Question 2

In the context of risk management, what does the term "loss severity" refer
to?

a. The probability that a loss will occur.

b. The total number of losses that occur in a given period.

c. The financial impact or cost of a loss when it occurs.

d. The number of times a particular type of loss occurs.

Answer: c. The financial impact or cost of a loss when it occurs.

Question 3

,What is the primary purpose of risk financing in risk management?

a. To identify potential risks that an organization may face.

b. To ensure that funds are available to cover losses when they occur.

c. To eliminate all risks faced by an organization.

d. To reduce the frequency of losses through preventive measures.

Answer: b. To ensure that funds are available to cover losses when they occur.

Question 4

Which risk management technique involves sharing the financial
consequences of a risk among multiple parties?

a. Risk retention

b. Risk transfer

c. Risk avoidance

d. Risk reduction

Answer: b. Risk transfer

Question 5

What is the main advantage of using a risk retention approach in risk
management?

a. It allows an organization to save on the cost of insurance premiums.

b. It eliminates the possibility of a loss occurring.

c. It transfers the risk to another party, reducing the organization’s liability.

d. It increases the frequency of losses, making them more predictable.

Answer: a. It allows an organization to save on the cost of insurance
premiums.

,Question 6

What is a key characteristic of a "speculative risk"?

a. It involves the possibility of both a loss and a gain.

b. It only involves the possibility of a loss.

c. It is always insurable.

d. It is always avoidable.

Answer: a. It involves the possibility of both a loss and a gain.

Question 7

In risk management, what does the term "loss frequency" refer to?

a. The number of losses that occur in a given period.

b. The financial impact of a loss.

c. The total cost of all losses in a given period.

d. The severity of losses that occur.

Answer: a. The number of losses that occur in a given period.

Question 8

Which of the following is an example of a pure risk?

a. Natural disasters such as earthquakes and floods.

b. Stock market investments.

c. Starting a new business.

d. Developing a new product.

Answer: a. Natural disasters such as earthquakes and floods.

, Question 9

What is the purpose of risk identification in the risk management process?

a. To evaluate the potential impact of identified risks.

b. To recognize and list all potential risks that could affect the organization.

c. To transfer risks to another party.

d. To finance risks through insurance.

Answer: b. To recognize and list all potential risks that could affect the
organization.

Question 10

Which risk management technique aims to reduce the likelihood of a loss
occurring?

a. Risk retention

b. Risk transfer

c. Loss prevention

d. Loss reduction

Answer: c. Loss prevention

Question 11

Which of the following statements best describes "risk assessment" in the
context of risk management?

a. The process of transferring risks to another party.

b. The process of eliminating all risks faced by an organization.

c. The process of analyzing the potential impact and likelihood of identified
risks.

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller TheAlphanurse. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $22.99. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

63950 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 15 years now

Start selling

Recently viewed by you

Exam (elaborations) ·

(0)

Tennessee Written State Board Exam Prep 2024/2025 (Esthetician)| MID-TERM EXAM TERM Test| Graded A

Exam (elaborations) ·

(0)

GFEBS L210E Financials Process Overview Questions and Answers | Latest Update | 2024/2025 | 100% Pass

Exam (elaborations) ·

(0)

Profile Picture Upgrade NURS 623 Exam 1 questions and answers NURS 623 Exam 1 questions and answers

Exam (elaborations) ·

(0)

| LATEST EXAM UPDATES| 2024/25 |THE ODYSSEY PART 1 REVIEW QUESTIONS AND ANSWERS, GRADED A+/ VERIFIED.

Exam (elaborations) ·

(0)

Vituity Medical Scribe Exam 1, Vituity Medical Scribe Exam 2 (Common words and phrases.)Qs &As

Exam (elaborations) ·

(0)

Exam (elaborations) TEST BANK FOR PEDIATRIC NURSING, A Case-Based Approach 1st Edition By Tagher Knapp

Exam (elaborations) ·

(1)

ATI PN COMPREHENSIVE EXIT EXAM 2024/2025 WITH (ACTUAL EXAM)QUESTIONS AND 100% VERIFIED ANSWERS |GRADED A+

Class notes ·

(0)

Official© Solutions Manual to Accompany Investment Analysis and Portfolio Management,Reilly,10e

Exam (elaborations) ·

(0)

Cognitive echo questions exam 2 | Actual Questions And Answers Latest Updated 2024/2025 (Graded A+)
$22.99  3x  sold
  • (3)
Add to cart
Added