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ARM 402 Practice Exam (404 Questions) and Answers Rated A+ 2024/2045 Newest
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ARM 402 Practice Exam (404 Questions) and Answers Rated A+ 2024/2045 Newest
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ARM 402 Practice Exam (404 Questions) andAnswers Rated A+ 2024/2045 Newest
Telematicssdevicessallowsorganizationsstosaccuratelysidentifyspatternssofsrisksandspr
edictsrisksforswhichsonesofsthesfollowingstypessofslosssexposures?
A.sAutomobile
B.sProperty
C.sWorkersscompensation
D.sBusinesssincomes-sA
Whichsonesofsthesfollowingsissasmajorsbenefitsthatssmartsinsurancescontractsscanspro
videstosinsurancescustomers?
A.sSmartscontractsscansrendersasriskscompletelyspreventable.
B.sSmartscontractsscansprovidesbroaderscoveragesatsaslowerscost.
C.sSmartscontractsscansdramaticallysincreasesthesspeedsofslossspayments.
D.sSmartscontractsscanssignificantlysincreasesthesspeedsofspremiumspayments.s-sC
MaxwellsCompanyshassjustsinvestedsaslargessumsinsnew,shighly-
sophisticatedscomputersequipmentsandsbuildingsrenovations.sMaxwellsarrangedstosle
asesidenticalsequipmentsatsanotherslocationssosthatsitscouldsusesthesequipmentsinsthes
eventsofsasdisastersatsitsslocation.sMaxwell'ssleasesofsidenticalsequipmentsatsanothersl
ocationsissansexamplesof
A.sDuplication.
B.sSeparation.
C.sLosssreduction.
D.sDiversification.s-sA
Oliviasissplanningsasmeetingstosexplainsasnewscyberssecuritysprocedure.sShesexpectsst
hatsthesmeetingswillsbesimpededsbyshiddensagendas.sWhichsonesofsthesfollowingsissth
esbestswaysforsOliviastosdealswithspotentialshiddensagendas?
A.sOliviasshouldsrefusestostakesquestionssduringshersmeeting,sandsrequeststhatsanysqu
estionssbesforwardedstoshersinswritingsaftersthesmeeting.
B.sOliviasshouldsstartsthesmeetingsbysstatingsthatsshesdoessnotsexpectseveryoneslikest
hesnewsprocedure,sbutstheysmustsacceptsit.s-sC
Whichsonesofsthesfollowingsissascommonsproblemswithsmeetingssthatsleaderssshouldst
rystosavoid?
A.sTryingstosstickstosansagendasandsavoidsinterruptions
B.sCommittingstosansendstime,sasswellsassasstartstime
C.sHavingstheswrongspeoplesattend
D.sStatingsthesobjectivesinswritingsbeforesthesmeetings-sC
Whichsonesofsthesfollowingsstatementssaboutscorrelationsandscovariancesisstrue?
,A.sCovariancesissasscaledsversionsofscorrelationsandsrangessfroms-1stos+1.
B.sThescorrelationsbetweensvariablessrangessfroms0stos+1.
C.sCovariancesmeasuressthesextentstoswhichsvariablessmovestogethersorsindependentl
y.
D.sCorrelationsmeasuresscausality.s-sC
Oncesasholisticsrisksmanagementsprogramsisscreatedsandsputsintoseffect,swhichsonesof
sthesfollowingsmethodsscansbesusedstosallowsconstantsandsconsistentsmonitoringsofsth
esprocess?
A.sBow-tiesdiagram
B.sFeedbacksloop
C.sDashboardsreporting
D.sSWOTsanalysiss-sB
Asriskscontrolstechniquesthatsreducessthesfrequencysofsasparticularslosssis
A.sLosssprevention.
B.sLosssreduction.
C.sDiversification.
D.sDuplication.s-sA
IvanhoesCorporationspurchasessstocksinsasbanksandsinsaspharmaceuticalsmanufactur
er.sBecausesthesesaresunrelatedsindustries,sIvanhoeshopesthatsanyslossessinsonesstock
swillsbesmoresthansoffsetsbysprofitssinsanother.sIvanhoesissusingswhichsonesofsthesfollo
wingsrisksmanagementstechniques?
A.sRiskstransfer
B.sDuplication
C.sDiversification
D.sSeparations-sC
PacificsBarsandsGrillswasshavingsasproblemswithsemployeessslippingsandsfallingsinsthe
skitchensandsbarsareas.sRathersthansincursthescoststosreplacesthesfloorsswithsasnewsno
n-slipssurface,sthesownerssdecidedstosrequiresemployeesstoswearsslip-
resistantsshoessandsmonitorsthesfloorssforsspillssonsasregularsschedule.sTheysaresalsos
keepingstracksofsthesnumbersofsemployeesslipssandsfallssandsthesassociatedscosts,sass
wellsas,sthesexpensessinvolvedswithsthissrisksmanagementsprogram.sWhichsonesofsthe
sfollos-sB
EdsissinvestmentsmanagersofsthesNellorsFoundation,sascharitablestrust.sRecently,sEds
metswithsthespresidentsofsthesFoundation.sUpsuntilsnow,sassetsshavesbeensinvestedsins
financialsassets.sEdstoldsthespresidentsthatsaftersperformingsassimulation,sheswouldsli
kestosaddsashigh-
yielding,shighersrisksrealsestatesinvestmentstosthesportfolio.sWhensthespresidentsaske
dsifsitswouldsbestoosrisky,sEdsreplied,s"Itswillsactuallysincreasesexpectedsreturnsswhile
sreducingsrisk."sThespurportedsreductionsinsrisksoccs-sD
,Whichsonesofsthesfollowingsriskscontrolstechniquessissgenerallysusedstosreducesthesfr
equencysofsasparticularsloss?
A.sSeparation
B.sLosssreduction
C.sAvoidance
D.sLossspreventions-sD
Whichsonesofsthesfollowingsstatementssregardingscorrelationsanalysississtrue?
A.sBecausesitsincorporatesssosmuchsdata,sasrisksprofessionalscansrelysonscorrelationsa
nalysissonlyswhensmakingsasmajorsdecision.
B.sAbnormalsobservationssandsinaccuratesdatasmaysskewscorrelationsanalysis.
C.sThesrangesofscorrelationscoefficientssissfroms0stos+1.
D.sCorrelationsanalysisscansindicatescausalitysbetweensvariables.s-sB
Whensorganizationssinveststheirsassetssamongsasmixsofsstockssandsbondssfromscompa
niessinsdifferentsindustryssectorsstheysaresusingsthesrisksmanagementstechniquesof
A.sDiversification.
B.sDuplication.
C.sRiskstransfer.
D.sSeparation.s-sA
Diversificationsissasriskscontrolstechniquesthat
A.sSpreadsslosssexposuressoversnumeroussprojects,sproducts,smarkets,sorsregions.
B.sViewssthescausesofsaccidentsstosbesasresultsofsbusinesssconcentrationsandsverticalsi
ntegration.
C.sProducessascopysorsbackupsandskeepssitsinsreserve.
D.sDividessansassetsorsoperationsintostwosorsmoresseparatesunits.s-sA
VictorsissthesrisksmanagersforsJonessIncorporated.sHesdecidedsthatsasbow-
tiesdiagramswouldsbesthesbestsmethodstosconveysaspotentialsriskstosthesexecutivestea
m.sVictorswillsusesthesbow-tiesdiagramstosdoswhichsonesofsthesfollowing?
A.sTosprovidesthesteamswithsallsofsthesinformationsitsneedsstosknowsaboutsthesriskswit
hinsasverysbriefsperiodsofstime
B.sTosidentifysthesrisksandslistsitsspossiblescausessandspossiblesconsequencessonseithe
rsside
C.sTosdepictstheslikelinesssthatsthesriskswillsoccur
D.sTos-sB
Asriskscontrolstechniquesthatsreducessthesseveritysofsasparticularslosssis
A.sLosssreduction.
B.sLosssprevention.
C.sDuplication.
D.sDiversification.s-sA
Advancementssinsmachineslearningsandsartificialsintelligences(AI)shaveshelpedsinsur
erssdosallsofsthesfollowing,sEXCEPT:
, A.sPricesinsurancespoliciessmoresprecisely
B.sCompletelyspreventscustomers'srisk
C.sCustomizespoliciesstosmorescloselysalignswithscustomers'sactualsrisk
D.sDeliverspolicysinformationsandspaymentsoptionsstosasmobilesdevices-sB
Aslocalsshoppingscentersreducedsitssnetsincomeslosssaftersasfiresbysincurringsaddition
alsexpensesstosshortensthestimesitstakesstosrepairsthesdamagesandsreopensthesshoppin
gscenter.sBob,sthesownersofsthescenter,shiredsascontractorstosworksaroundsthesclocksu
ntilsrepairsswerescompleted.sThissreducedsBob'ssnetsincomeslosssbecausesheswassable
stosrepairsthesshopsssooner.sBob'ssactionsissansexamplesofswhichsonesofsthesfollowings
risksmanagementstechniques?
A.sLosssprevention
B.sAvoidance
C.sDiversificatis-sD
Conorsneedsstosdeliversansimportantsmessagestoshissstaff.sHeshassscheduledsasmeetin
gsinsasconferencesroomswithshissstaffsofs10sindividuals.sWhichsonesofsthesfollowingsisst
hesbestswaysforsConorstosuseshissbodyslanguagestosconveysconfidencesinshissmessages
andsinterestsinshissstaff?
A.sConorsshouldswalksaroundsthesroomsstandingsoversdifferentsindividualssasshesspea
ks.
B.sConorsshouldssitsupsandsleansslightlystowardsthesaudience.
C.sConorsshouldskeepshisshandssfoldedsonsthestablestosavoidsdistractins-sB
JepsonsManufacturingsCompanysissasU.S.-
basedscompanyswithsoperationssinsMexico,sCanada,sBrazil,sandsthesNetherlands.sJeps
onspurchasessasnonadmittedspolicysinsthesU.S.sandspoliciessfromsadmittedsinsurerssins
eachsofsthescountriessinswhichsitsoperates.sThisscollectionsofsadmittedsandsnonadmitt
edspoliciessusedsbysmultinationalsbusinessessisscalled
A.sAsfacultativesinsurancesprogram.
B.sAnsenterprisesrisksmanagementsprogram.
C.sAspuresexcesssinsurancesprogram.
D.sAscontrolledsmastersprogram.s-sD
Commercialsgeneralsliabilitysinsurancespoliciesswrittensonsansoccurrencesbasissapply
stosbodilysinjurysandspropertysdamagesthatsoccurssduringsthespolicysperiod.sThisspro
visionssupportssthesprinciplesthatsinsurableslosssexposuressmustsideallysbe
A.sFortuitous.
B.sPuresrisks.
C.sDefinite.
D.sIndependent.s-sC
Ideallysinsurableslosssexposuressaressubjectstoslossessthat
A.sOccursgraduallysoverslongsperiodssofstime.
B.sAresdefinitesinstime,scause,sandslocation.
C.sResultsfromsunidentifiablescauses.
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