ARM 400 Practice Exams all chapters!!
According to the law of large numbers, as the number of exposure units insured increases, - answersThe relative accuracy of predictions about future losses increases
The fundamental purpose of a risk management framework is to - answersIntegrate risk
management throughout the organization
Which one of the following provides a measure of the maximum potential damage associated with an occurrence? - answersExposure
Aligning risks with the organization's risk appetite defines - answersTolerable uncertainty
An organization must meet the standard of care that it owes to others in order to ensure that - answersLegal obligations are satisfied
Julian was having a conversation with Tania, one of his employees. At this point, Julian said, "What I hear you say is that you would like to take on more responsibility. Is that correct?" Which one of the following elements of active listening was Julian illustrating? - answersResponse
During the past year, International Toys has undertaken four capital projects. The company has renovated and refurbished one of its aging warehouse buildings. It has purchased the most recent version of its current order processing computer software. It has added two trucks to its fleet of delivery vehicles. Lastly, it has purchased a new production machine that will allow it to launch a new product line. Which one of the following company projects is the most speculative risk? - answersThe new production machine
Encouraging the expression of feelings as well as facts and following up with employees
on the problems they report are two ways that managers and supervisors can - answersCultivate two-way communication Which one of the following risk management objectives is critical for a manufacturer seeking new capital from investors, stockholders, and creditors? - answersReduce the deterrent effects of hazard risks
Which one of the following is a tool that can be used by fraud investigators to compare documents and analyze notes? - answersText mining
For an organization, a key performance indicator (KPI) measures the performance of a specific activity at a predetermined level or amount. Which one of the following is an example of a KRI based on a ratio? - answersInventory turnover
Before speaking with a group or individual, the speaker should think about what he or she wants the other person(s) to do as a result of the conversation. Which one of the following steps in the communication process does the speaker complete by doing this?
- answersSet a clear communication objective
Mid-State Packing Company, a meat processing company, is the largest private sector employer in Metro City. First National Bank of Metro City loans money to Mid-State Packaging Company and to many of the employees of Mid-State. The problem with First National Bank of Metro City loaning money to both the business and many employees of the business is that - answersLoan defaults are likely to be highly correlated
Which one of the following statements is true with regard to preventative analytics? - answersPreventative analytics uses smart products and data analytics to identify root loss causes and their implications.
The emerging technologies applied to risk assessment and control link the physical domain to the virtual domain. Together, these domains linked by the emerging technologies create a - answersconnected ecosystem
In addition to metal detector, many airports have installed a second type of scanning technology for baggage and cargo. The checked bags and cargo pass through a portal with scanners programmed to detect and test for explosive trace fumes. These scanners, which detect explosives based on air samples, are an example of what type of sensor used for risk assessment and control? - answersBiochemical sensors
Which one of the following uses infrared light to detect nearby objects? - answersLidar
SIR's use of drones, video, real-term video scanning, and computer analysis illustrates which one of the following? - answersPreventative analytics
Which one of the following should be part of an organization's standard operating procedures (SOPs) concerning external stakeholder communications? - answersInstructions regarding what types of information can and cannot be released
According to the law of large numbers, as the number of exposure units insured increases, - answersThe relative accuracy of predictions about future losses increases
The fundamental purpose of a risk management framework is to - answersIntegrate risk
management throughout the organization
Which one of the following provides a measure of the maximum potential damage associated with an occurrence? - answersExposure
Aligning risks with the organization's risk appetite defines - answersTolerable uncertainty
An organization must meet the standard of care that it owes to others in order to ensure that - answersLegal obligations are satisfied
Julian was having a conversation with Tania, one of his employees. At this point, Julian said, "What I hear you say is that you would like to take on more responsibility. Is that correct?" Which one of the following elements of active listening was Julian illustrating? - answersResponse
During the past year, International Toys has undertaken four capital projects. The company has renovated and refurbished one of its aging warehouse buildings. It has purchased the most recent version of its current order processing computer software. It has added two trucks to its fleet of delivery vehicles. Lastly, it has purchased a new production machine that will allow it to launch a new product line. Which one of the following company projects is the most speculative risk? - answersThe new production machine
Encouraging the expression of feelings as well as facts and following up with employees
on the problems they report are two ways that managers and supervisors can - answersCultivate two-way communication Which one of the following risk management objectives is critical for a manufacturer seeking new capital from investors, stockholders, and creditors? - answersReduce the deterrent effects of hazard risks
Which one of the following is a tool that can be used by fraud investigators to compare documents and analyze notes? - answersText mining
For an organization, a key performance indicator (KPI) measures the performance of a specific activity at a predetermined level or amount. Which one of the following is an example of a KRI based on a ratio? - answersInventory turnover
Before speaking with a group or individual, the speaker should think about what he or she wants the other person(s) to do as a result of the conversation. Which one of the following steps in the communication process does the speaker complete by doing this?
- answersSet a clear communication objective
Mid-State Packing Company, a meat processing company, is the largest private sector employer in Metro City. First National Bank of Metro City loans money to Mid-State Packaging Company and to many of the employees of Mid-State. The problem with First National Bank of Metro City loaning money to both the business and many employees of the business is that - answersLoan defaults are likely to be highly correlated
Which one of the following statements is true with regard to preventative analytics? - answersPreventative analytics uses smart products and data analytics to identify root loss causes and their implications.
The emerging technologies applied to risk assessment and control link the physical domain to the virtual domain. Together, these domains linked by the emerging technologies create a - answersconnected ecosystem
In addition to metal detector, many airports have installed a second type of scanning technology for baggage and cargo. The checked bags and cargo pass through a portal with scanners programmed to detect and test for explosive trace fumes. These scanners, which detect explosives based on air samples, are an example of what type of sensor used for risk assessment and control? - answersBiochemical sensors
Which one of the following uses infrared light to detect nearby objects? - answersLidar
SIR's use of drones, video, real-term video scanning, and computer analysis illustrates which one of the following? - answersPreventative analytics
Which one of the following should be part of an organization's standard operating procedures (SOPs) concerning external stakeholder communications? - answersInstructions regarding what types of information can and cannot be released
