CISR - Elements of Risk Management Exam Test with Answers 100% Pass
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CISR - Elements of Risk Management
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CISR - Elements Of Risk Management
CISR - Elements of Risk Management Exam Test with
Answers 100% Pass
peril
exposure
peril
morale hazard
hazard
incident
accident
claim
severity
low frequency
risk appetite
expected losses
average severity
A is a cause of loss
A situation, behavior, or condition that may lead to ad-
...
CISR - Elements of Risk Management Exam Test with
Answers 100% Pass
1. peril A is a cause of loss
2. exposure A situation, behavior, or condition that may lead to ad-
verse financial consequences
3. peril A cyberattack is an example of a
4. morale hazard An Insured who shows no regard for his insured property
demonstrates a
5. hazard A spill on a supermarket aisle is an example of a
because it increases the likelihood that someone will fall
6. incident A passenger enters an elevator. His clothing is caught
in the elevator door as the door closes. The passenger
snatches the clothing from the door before the elevator
begins to move. He is uninjured and his clothes are not
damaged.
7. accident A mixing paddle on a faulty bakery mixer snaps and
strikes an employee's hand. The employee's hand is cut
and bleeding
8. claim A driver is at fault in a minor auto accident. The other
driver is uninjured, but the bumper on her car requires
repairs. The other driver demands that the at-fault driver's
insurance company pay for the loss.
9. severity The total dollar amount of all losses for a given period of
time
10. low frequency A loss has occurred but is unlikely to occur again in the
future
11. risk appetite An organization's tolerance for risk
12. expected losses The product of loss frequency multiplied by loss severity
13. average severity The total amount of losses in a given period divided by the
total number of claims
, CISR - Elements of Risk Management Exam Test with
Answers 100% Pass
14. high frequency A loss expected to continue occurring regularly
15. peril A cause of loss
16. accident An unplanned event definite as to time and place that
results in injury or damage to a person or property
17. incident An event that disrupts normal activities and may become
a loss or business interruption
18. claim A demand for payment or an obligation to pay as a result
of a loss or occurrence
19. exposure A situation, practice, or condition that may lead to an
adverse financial consequence or loss; an activity or re-
source; people or assets
20. loss A reduction in value
21. occurrence An accident with the limitation of time removed; an "acci-
dent" extended over a period of time rather than a single,
observable event
22. hazard A condition or characteristic that may create or increase
the likelihood or severity of a loss
23. Prevention A response to a focus on the frequency with which events
occur
24. Segregation The isolation of an exposure from other exposures, perils,
or hazards
25. Duplication Creating asset back-ups
26. Reduction A response to a focus on the severity of incidents in an
effort to recognize risk and take action to lower losses
27. Transfer The shift of function, exposure, or responsibility of certain
liabilities to another party
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