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CISR - Elements of Risk Management Flashcards _ 100- sure answers.pdf
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9/25/24, 8:46 PMCISR - Elements of Risk Management
Practice questions for this set
Terms in this set (132)
A ___ is a cause of loss peril
A situation, behavior, or condition that may exposure
lead to adverse financial consequences
A cyberattack is an example of a ____ peril
An Insured who shows no regard for his morale hazard
insured property demonstrates a
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A spill on a supermarket aisle is an example hazard
of a ___ because it increases the likelihood
that someone will fall
A passenger enters an elevator. His clothing incident
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.
A mixing paddle on a faulty bakery mixer accident
snaps and strikes an employee's hand. The
employee's hand is cut and bleeding
A driver is at fault in a minor auto accident. claim
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.
The total dollar amount of all losses for a severity
given period of time
A loss has occurred but is unlikely to occur low frequency
again in the future
An organization's tolerance for risk risk appetite
The product of loss frequency multiplied by expected losses
loss severity
The total amount of losses in a given period average severity
divided by the total number of claims
A loss expected to continue occurring high frequency
regularly
A cause of loss peril
An unplanned event definite as to time and accident
place that results in injury or damage to a
person or property
An event that disrupts normal activities and incident
may become a loss or business interruption
A demand for payment or an obligation to claim
pay as a result of a loss or occurrence
A situation, practice, or condition that may exposure
lead to an adverse financial consequence or
loss; an activity or resource; people or assets
A reduction in value loss
An accident with the limitation of time occurrence
removed; an "accident" extended over a
period of time rather than a single,
observable event
A condition or characteristic that may create hazard
or increase the likelihood or severity of a
loss
CISR - Elements of Risk Management
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