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CPCU 500 New /Questions And Answers Graded (A+) DOWNLOAD TO PASS!!!!!
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- CPCU 500 New 2023 -2024 /Questions And Answers
CPCU 500 New /Questions And Answers Graded (A+) DOWNLOAD TO PASS!!!!!
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CPCU 500 New 2023 -2024 /Questions And AnswersGraded (A+) DOWNLOAD TO PASS!!!!!
Quiz :Risk - Answer :the uncertainty about outcomes, with the possibility that
some of the outcomes can be negative. Quantified by knowing the probability
of the possible outcomes
Quiz :Probability - Answer :the likelihood that an outcome or event will occur.
Probabilities are stated as a decimal figure, a percentage, or a fraction.
Quiz :What are the 2 elements associated with risk? - Answer :uncertainty of
outcome + possibility of negative outcome
Quiz :Pure Risk - Answer :a chance of loss or no loss, but no chance of gain.
Quiz :Speculative Risk - Answer :a chance of gain or loss (investment).
Quiz :Price Risk - Answer :the uncertainty over the size of cash flows resulting
from possible changes in the cost of raw materials and other inputs (lumber,
gas, or electricity)
Quiz :Credit Risk - Answer :the risk that customers and other debtors will fail
to make promised payments.
Quiz :Distinguish Diversifiable vs. Nondiversifiable Risk - Answer :Diversifiable
risks can be managed by spreading (such as purchasing multiple businesses).
Nondiversifiable risks are correlated so that their gains or losses tend to occur
simultaneously rather than randomly.
Quiz :What are the 4 quadrants of risk? - Answer :Hazard, Operational,
Financial, and Strategic risk
Quiz :Hazard - Answer :a condition that increases the frequency or severity of
a loss.
Quiz :What are the classifications of risk? - Answer :pure vs. speculative.
subjective vs. objective. diversifiable vs. nondiversifiable.
Quiz :The quadrants of risk focus on... - Answer :the source of risk and who
has traditionally managed it
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