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CISR Elements of Risk Management Exam 2024 Questions with 100% Complete Solutions Graded A+
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CISR Elements of Risk Management Exam 2024 Questions with 100% Complete Solutions Graded A+
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CISR - Elements of RiskManagement Exam
[2024]
Questions with 100% Complete
Solutions
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,A ____ is a cause of loss - Answer - peril
A situation, behavior, or condition that may lead to adverse financial
consequences - Answer - exposure
A cyberattack is an example of a ____ - Answer - peril
An Insured who shows no regard for his insured property demonstrates a -
Answer - morale hazard
A spill on a supermarket aisle is an example of a ____ because it increases the
likelihood that someone will fall - Answer - hazard
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. -
Answer - incident
A mixing paddle on a faulty bakery mixer snaps and strikes an employee's hand.
The employee's hand is cut and bleeding - Answer - accident
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. - Answer - claim
The total dollar amount of all losses for a given period of time - Answer - severity
, A loss has occurred but is unlikely to occur again in the future - Answer - low
frequency
An organization's tolerance for risk - Answer - risk appetite
The product of loss frequency multiplied by loss severity - Answer - expected
losses
The total amount of losses in a given period divided by the total number of claims
- Answer - average severity
A loss expected to continue occurring regularly - Answer - high frequency
A cause of loss - Answer - peril
An unplanned event definite as to time and place that results in injury or damage
to a person or property - Answer - accident
An event that disrupts normal activities and may become a loss or business
interruption - Answer - incident
A demand for payment or an obligation to pay as a result of a loss or occurrence -
Answer - claim
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