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CPCU 500 - Managing Evolving Risks Exam/110 Questions with Complete Solutions
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CPCU 500 - Managing Evolving Risks Exam/110 Questions with Complete Solutions
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CPCU 500 - Managing Evolving RisksExam/110 Questions with Complete
Solutions
Big Data - -Sets of data that are too large to be gathered and
analyzed by traditional methods.
-Smart product - -An innovative item that uses sensors; wireless sensor
networks; and data collection, transmission, and
analysis to further enable the item to be faster, more
useful, or otherwise improved.
-Internet of Things (IoT) - -A network of objects that transmit data to and
from
each other without human interaction.
-Cloud computing - -Information, technology, and storage services
contractually provided from remote locations,
through the internet or another network, without a
direct server connection.
-Blockchain - -A distributed digital ledger that facilitates secure
transactions without the need for a third party.
-Telematics - -The use of technological devices in vehicles with
wireless communication and GPS tracking that
transmit data to businesses or government agencies;
some return information for the driver.
-Text mining - -Obtaining information through language recognition.
-Insurtech - -The use of emerging technologies in the insurance
industry.
-Sensor - -A device that detects and measures stimuli in its
environment.
-Preventive analytics - -Statistical and analytical techniques used to
influence
or prevent future events or behaviors.
-Transducer - -A device that converts one form of energy into
another.
, -Actuator - -A mechanical device that turns energy into motion or
otherwise effectuates a change in position or rotation
using a signal and an energy source.
-Accelerometer - -A device that measures acceleration, motion, and tilt.
-Ergonomics - -The science of designing work space and equipment
based on the needs of the people who use the work
space and equipment.
-Risk management
framework - -A foundation for applying the risk management
process throughout the organization.
-Risk criteria - -Information used as a basis for measuring the
significance of a risk.
-Pure risk - -A chance of loss or no loss, but no chance of gain.
-Speculative risk - -A chance of loss, no loss, or gain.
-Credit risk - -The risk that customers or other creditors will fail to
make promised payments as they come due.
-Subjective risk - -The perceived amount of risk based on an individual's
or organization's opinion.
-Objective risk - -The measurable variation in uncertain outcomes
based on facts and data.
-Diversifiable risk - -A risk that affects only some individuals, businesses,
or small groups.
-Systemic risk - -The potential for a major disruption in the function
of an entire market or financial system.
-Market risk - -Uncertainty about an investment's future value
because of potential changes in the market for that
type of investment.
-Liquidity risk - -The risk that an asset cannot be sold on short notice
without incurring a loss.
-Risk appetite - -Amount of risk an organization is willing to take on
in order to achieve an anticipated result or return.
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