ARM 401 Exam Practice Exam (428 Questions) With 100 Complete Verified Solution-61

Which one of the following best describes the type of risk control measure implemented? A. Procedural control B. Security control C. Managerial control D. Personnel control - A Outlining unacceptable cyber behavior with associated consequences is an example of A. A managed control. B. A personnel control. C. A physical control. D. An operational control. - B The extent of an organization's product of human intelligence that has economic value refers to which one of the following? A. Personal property B. Intellectual property C. Business income D. Real property - B The two categories of property that are exposed to loss from cyber risk are A. Real and personal. B. Tangible and intangible. C. Insured and uninsured. D. Covered and not covered. - B An individual owns a web-based business. All sales records and contact data are maintained on the same network server as the website. Someone hacks into the server and deletes all of the saved data. Which one of the following types of loss is this? A. Intangible property B. Personal injury C. Tangible property D. Contingent business income - A Chuck is Vice President of Claims for Insurance Company. The company has 37 adjusters in the field, and needs to hire four new adjusters. Chuck is curious about the relationship between prior experience of the adjuster and policyowner complaints. He collected data on the number of complaints for each adjuster on staff over time. Then he used a statistical technique to analyze the relationship between adjuster experience and complaints, and the trend of the relationship over time. The statistical - A Insurance Company monitors key indicators of underwriting effectiveness. Some indicators they monitor include: percentage of business quoted that was written, application processing time, premium volume handled by underwriters, skill level of underwriters, and benchmarking between different underwriting offices. The indicators of underwriting performance Insurance Company uses are called A. System indicators. B. Control indicators. C. Process indicators.