AIDA 182 PASSED Actual Exam Questions and CORRECT Answers
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Course
AIDA
Institution
AIDA
AIDA 182 PASSED Actual Exam Questions
and CORRECT Answers
strategic risk - CORRECT ANSWER- Arise from trends in the economy and society,
including changes in the economic, political, and competitive environments, as well as from
demographic shifts
-risk of increased competition
failing to...
AIDA 182 PASSED Actual Exam Questions
and CORRECT Answers
strategic risk - CORRECT ANSWER- ✔✔Arise from trends in the economy and society,
including changes in the economic, political, and competitive environments, as well as from
demographic shifts
-risk of increased competition
failing to respond to the changing customers demand and preferences...
4 quadrants this exposure of loss is
Likelihood and Consequences - CORRECT ANSWER- ✔✔the relationship between which
two basic measures is critical for risk management in assessing risk and deciding whether or
how to manage it
covariance - CORRECT ANSWER- ✔✔Measures the extent to which variables move
together or independently
varies predictably with some other variable - CORRECT ANSWER- ✔✔regression analysis
assumes that the variable being forecast
trend analysis - CORRECT ANSWER- ✔✔better forecast loss frequency and severity
the source of risk and who has traditionally managed it - CORRECT ANSWER-
✔✔classifications of risk focus on some aspect of the risk itself, the four quadrants of risk
focus on
operational risk - CORRECT ANSWER- ✔✔adequacy of suppliers to meet an organizations
needs would be an example of...
arise from failure in processes, systems
hazard and operational risk - CORRECT ANSWER- ✔✔embezzle funds
, exposure - CORRECT ANSWER- ✔✔measure of the maximum potential damage associated
with an occurrence
covariance measures the extent to which two variables move together or independently -
CORRECT ANSWER- ✔✔covariance measures the extent to which two variables move
together or independently
probabilities deduced solely from historical data may change as new data are discovered or
the environment changes - CORRECT ANSWER- ✔✔probabilities deduced solely from
historical data may change as new data are discovered or the environment changes
one way of presenting a continuous probability distribution is to divide the distribution into a
countable number of bins - CORRECT ANSWER- ✔✔continuous probability distributions
represents probability estimates for a particular set of circumstances and the probability of
each possible outcome - CORRECT ANSWER- ✔✔probability distribution
mode, density function - CORRECT ANSWER- ✔✔for a continuous distribution, the ______
is the value of the outcome directly beneath the peak of the probability ____
expected value - CORRECT ANSWER- ✔✔term used for the weighted average of all the
possible outcomes in a theoretical probability distribution
50 percent - CORRECT ANSWER- ✔✔a probability distribution's median has a cumulative
probability of
cumulative probabilities - CORRECT ANSWER- ✔✔can be used to evaluate the effect of
various deductibles and policy limits on insured loss exposures
relative frequency with which it occurs - CORRECT ANSWER- ✔✔the mean is calculated
by weighting each observed outcome by the
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