100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
RMI 3011: Chapter 3 RMI 3011 Florida State University -Questions with complete solution $12.49   Add to cart
Quickly navigate to
Preview
  2.  
  3. Florida State University
  4.  
  5. RMI 3011

Exam (elaborations)

RMI 3011: Chapter 3 RMI 3011 Florida State University -Questions with complete solution

 1 view  0 purchase

RMI 3011: Chapter 3 RMI 3011 Florida State University -Questions with complete solution What is Risk Management? - correct answer A process that identifies loss exposures faced by an orgnization and selects the most appropriate techniques for treating such exposures What is loss exposure? - c...

[Show more]

Preview 2 out of 9  pages

Document information

  • November 30, 2024
  • 9
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • rmi 3011 chapter 3
  • rmi 3011 chapter 3 questions with complete soluti
  • rmi 3011 chapter 3 rmi 3011 florida state univers

Written for

All documents for this subject (80)

Seller

avatar-seller
Academia199

Reviews received

Content preview

RMI 3011: Chapter 3 Questions with
complete solution
What is Risk Management? - correct answer ✔A process that identifies loss
exposures faced by an orgnization and selects the most appropriate
techniques for treating such exposures


What is loss exposure? - correct answer ✔Any situation or circumstance in
which a loss is possible regardless of whether a loss actually occurs


What are the 3 pre loss objectives of risk management - correct answer
✔Prepare for potential losses in the most economical way
Reducing anxiety
Meet any legal obligation


What are the post loss objectives of risk management? - correct answer
✔Continue operating (survival-most important)
Stability of earnings
Continues growth of the firm


Whatr is the objective of social responsbility? - correct answer ✔TO minimize
the effects that a loss will have o other persons and on society


What are the 4 steps in risk management process? - correct answer
✔Identify Loss Exposure (Review all important potential losses)
MEasure and Analyze the loss exposures
Select the apptopriate combination of techniques
Implement and Monitor the Risk Management Process

, What are some types of potential losses - correct answer ✔Property losses
Liability Losses
HR losses
Foreign Losses


What are some sources of info to identify loss exposures - correct answer
✔Risk analysis questionaitres
FInancial Statments
Historical Loss DAta


What is loss frequency? - correct answer ✔The probably number of losses
that mat occur during some fiven time period


What is loss severity - correct answer ✔The probable sizes of the loss that
may occur


What is the max possible loss? - correct answer ✔The worst loss that could
happen to the firm


What is the probability max loss - correct answer ✔The worst loss that is
likely to happen


What are the 4 techniques used to account for risk - correct answer ✔Risk
Control
Loss Prevention
Loss reduction
Risk Financing

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

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

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

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 Academia199. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $12.49. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

60904 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$12.49
  • (0)
  Add to cart