100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
RMI 3011 NYCE EXAM 1 RMI 3011 Florida State University -Question and answers correctly solved $15.49   Add to cart
Quickly navigate to
Preview
  2.  
  3. Florida State University
  4.  
  5. RMI 3011

Exam (elaborations)

RMI 3011 NYCE EXAM 1 RMI 3011 Florida State University -Question and answers correctly solved
 1 view  0 purchase

RMI 3011 NYCE EXAM 1 RMI 3011 Florida State University -Question and answers correctly solved 1. The definition of risk contains which important components: I. Uncertainty II. Economic loss III. Premiums - correct answer 1 and 2 1. Which of the following are considered "burdens" of risk: ...

[Show more]

Preview 3 out of 22  pages

Document information

  • December 1, 2024
  • 22
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • rmi 3011 nyce exam 1
  • rmi 3011 nyce exam 1 question and answers correctl
  • rmi 3011 nyce exam 1 rmi 3011 florida state univer

Written for

All documents for this subject (80)

Seller

avatar-seller
Academia199

Reviews received

Content preview

RMI 3011 NYCE EXAM 1 Question and
answers correctly solved
1. The definition of risk contains which important components:
I. Uncertainty
II. Economic loss
III. Premiums - correct answer ✔1 and 2


1. Which of the following are considered "burdens" of risk:
a. Losses
b. Higher borrowing costs
c. Greater liquidity needs
d. All of the above
e. None of the above - correct answer ✔D


1. The cost of risk includes:
a. Outlays to reduce risk
b. Opportunity cost of forgone activities
c. Cost to finance potential losses
d. All of the above
e. None of the above - correct answer ✔D


1. A risk that has changes from year to year (e.g. oil prices):
a. Pure
b. Speculative
c. Static

,d. Dynamic
e. Subjective - correct answer ✔D


1. A risk that has only two outcomes (e.g. auto theft) loss or no loss is
considered:
a. Pure
b. Speculative
c. Static
d. Dynamic
e. Subjective - correct answer ✔A


1. A risk that affects a large portion of the population (e.g. economic
downturn) all at once is considered:
a. Static
b. Dynamic
c. Objective
d. Fundamental
e. Particular - correct answer ✔D


1. Examples of damages that could be paid as part of liability include:
a. Settlements to injured parties
b. Legal fees
c. Fines
d. All of the above
e. None of the above - correct answer ✔D


1. The definition of liability is:

, a. The risk that a person loses their ability to generate income
b. The average loss amount adjusting for loss probability
c. The risk of being held financially liable for "damages" to another party
d. Funeral expenses
e. Medical expenses - correct answer ✔C


1. Loss of income can be caused by:
I. Death
II. Injury/Illness
III. Unemployment
a) I only
b) II only
c) III only
d) I and II
e) I and III
f) II and III
g) I, II, & III - correct answer ✔G


1. Slippery or icy roads increasing the likelihood of an auto accident is an
example of:
a. Moral hazard
b. Physical hazard
c. Risk
d. Peril
e. Asset exposed to loss - correct answer ✔B

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller Academia199. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $15.49. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

61001 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$15.49
  • (0)
  Add to cart