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RMI3011 Chapter 3 RMI 3011 Florida State University -Questions with complete solution
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RMI3011 Chapter 3 RMI 3011 Florida State University -Questions with complete solution Risk Management - correct answer A process that identifies loss exposures faced by an organization and selects the most appropriate techniques for treating such exposures. Loss Exposure - correct answer An...

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  • December 1, 2024
  • 4
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • rmi3011 chapter 3
  • rmi3011 chapter 3 questions with complete solution
  • rmi3011 chapter 3 rmi 3011 florida state universit

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RMI3011 Chapter 3 Questions with
complete solution
Risk Management - correct answer ✔A process that identifies loss
exposures faced by an organization and selects the most appropriate
techniques for treating such exposures.


Loss Exposure - correct answer ✔Any situation or circumstance in which a
loss is possible, regardless of whether a loss occurs.


Risk Management Pre-Loss Objectives - correct answer ✔Prepare for
potential losses in the most economical way
Reduce anxiety
Meet any legal obligations


Risk Management Post-Loss Objectives - correct answer ✔Survival of the
firm
Continue operating
Stability of earnings
Continued growth of the firm
Minimize the effects that a loss will have on other persons and on society.


Risk Management Process - correct answer ✔Identify potential losses
Measure and analyze the loss exposures
Select the appropriate combination of techniques for treating the loss
exposures (Risk Control/Risk Financing).
Implement and monitor the risk management program.

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