RMI 211: Chapter 3 - Introduction To Risk Manageme
RMI 211: Chapter 3 - Introduction to Risk Manageme
Exam (elaborations)
RMI 211: Chapter 3 - Introduction to Risk Management Questions and Answers Latest Update Fully Solved 100%
5 views 0 purchase
Course
RMI 211: Chapter 3 - Introduction to Risk Manageme
Institution
RMI 211: Chapter 3 - Introduction To Risk Manageme
Duplication - having back-ups or copies of important documents or property available in case a
loss occurs
Pre-Loss Objectives - -Prepare for potential losses in the most economical way
-Reduce anxiety
-Meet any legal obligations
Risk Management - a process that identifies loss exposures faced...
RMI 211: Chapter 3 - Introduction to Risk
Management
Duplication - having back-ups or copies of important documents or property available in case a
loss occurs
Pre-Loss Objectives - -Prepare for potential losses in the most economical way
-Reduce anxiety
-Meet any legal obligations
Risk Management - a process that identifies loss exposures faced by an organization and selects
the most appropriate techniques for treating such exposures
Loss Exposure - any situation or circumstance in which a loss is possible, regardless of whether a
loss occurs
Post-Loss Objectives - -Survival of the firm
-Continue operating
-Stability of earnings
-Continued growth of the firm
-Minimize the effects that a loss will have on other persons and on society
Loss Frequency - the probable number of losses that may occur during some given time period
loss severity - the probable size of the losses that may occur
Which is more important?
Loss severity or Loss Frequency - Loss Severity
The benefits of buying summaries with Stuvia:
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
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
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 PatrickKaylian. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $7.99. You're not tied to anything after your purchase.
