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AIDA 182 EXAM STUDY QUESTIONS AND ANSWERS TOP GRADED 2024
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Risk quadrants are different from risk classifications. Risk quadrants focus on what? -Correct Answer The source of the risk itself and what part of the organization has managed it in the past. An enterprise risk management approach is categorizing risks into quadrants. What are hazard risks? -C...

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AIDA 182 Exam



AIDA 182 EXAM STUDY QUESTIONS AND
ANSWERS TOP GRADED 2024
Risk quadrants are different from risk classifications. Risk quadrants focus on what? -
Correct Answer ✔The source of the risk itself and what part of the organization has
managed it in the past.

An enterprise risk management approach is categorizing risks into quadrants. What are
hazard risks? -Correct Answer ✔Normally managed by risk management professionals.

What are the four risks in the enterprise risk management model? -Correct Answer
✔Hazard, operational, financial, and hazard.

What risk quadrant is the change of stocks or bonds values because interest rate
changes in? -Correct Answer ✔Financial risks.

What is true of pure and speculative risks? -Correct Answer ✔All businesses involve
speculative risks.

What is true of diversifiable and nondiversifiable risks? -Correct Answer ✔Systemic
risks are nondiversifiable generally.

What is an example of a strategic risk? -Correct Answer ✔A new computer chip that
could give a company growth.

What is an example of an operational risk? -Correct Answer ✔The ability of suppliers to
perform.

What is true of subjective and objective risks? -Correct Answer ✔Subjective risk can be
present where objective risk is not.

What is an example of a speculative risk? -Correct Answer ✔Investing in stock.

What is true of diversifiable versus nondiversifiable risk? -Correct Answer ✔Diversifiable
risks are not correlated and can be managed through diversification or spread of risk.

A company's fleet of cars is worrying the managers liquidity of the company and fuel
prices having an adverse effect is which type of risk quadrant? -Correct Answer
✔Financial risk.

An employee embezzling funds from a company for not feeling adequately paid is what
risk? -Correct Answer ✔Both a hazard and an operational risk.



AIDA 182 Exam

,AIDA 182 Exam


Failing to respond to changing customer demands is an example of what risk? -Correct
Answer ✔Strategic risk.

The fear of your home being hit by a storm and damaged or destroyed is what risk for
you? -Correct Answer ✔A subjective risk.

What quadrant of risk is a harmful chemical found in a building with unknown harm to
residents and to the clean up crew part of? -Correct Answer ✔A hazard risk.

Driving instead of flying because of feeling of safety is an example of what? -Correct
Answer ✔A subjective risk.

Investing money in a rental property brings what? -Correct Answer ✔Both speculative
and pure risks. The property values can increase or decrease and the building could
burn down.

Increased competition is an example of what? -Correct Answer ✔A strategic risk.

Renovating a warehouse, purchasing a new order processing software, added two new
delivery trucks, and purchasing a production machine which also allows for potential for
a new product line, are all projects. Which project is the most speculative? -Correct
Answer ✔The new production machine.

What is a true statement on the basic measures applying to risk management? -Correct
Answer ✔Consequences measure the degree to which an occurrence could positively
or negatively affect an organization.

The law of large numbers states as the number of exposure units increases, what
happens? -Correct Answer ✔The relative accuracy of predictions about future losses
increase.

Which two measures are important in assessing risk and how to manage it? -Correct
Answer ✔Consequences and likelihood.

What is the measure of the biggest potential loss of an occurrence. -Correct Answer
✔An exposure.

Giving discounts to everyone in one segment of your book of business or a bank in the
same town as a business it gives loans to including its employees, are both examples of
high correlation. What is true about correlation? -Correct Answer ✔When two variables
are perfectly positively correlated, one variable increases, and the other will increase in
direct proportion.

Covariance is different from correlation in that correlation represents how strongly
variables are related. Covariance is the measure of correlation. Therefore, covariance is


AIDA 182 Exam

, AIDA 182 Exam


what? -Correct Answer ✔The measure of the extent to which variables move together or
independently.

You own common stock of five large clothing brands. What would improve the portfolios
risk the greatest? -Correct Answer ✔Adding a discount retailer stock, not a smaller
clothing brand.

What is true of correlation analysis? -Correct Answer ✔Abnormal observations and
inaccurate data may skew the analysis.

Stock A and B are correlated by 0.80 while stock A and C are correlated by 0.10. Which
portfolio would produce the lowest risk? -Correct Answer ✔Portfolio with stock A and C.

A strong correlation exists between umbrella policy and replacement cost policy
purchases. It would be incorrect to conclude demand increases for umbrella policies
create demand increases for replacement policies, why? -Correct Answer ✔Because
correlation does not measure causality.

What is true of regression analysis? -Correct Answer ✔The regression line represents
the best fit to historical data from prior periods.

What is trend analysis? -Correct Answer ✔An analysis that identifies mathematical
patterns in past losses and projects the patterns into the future.

Regression analysis assumes what? -Correct Answer ✔The variable being foretasted
varies predictably with another variable.

What is a key performance indicator? -Correct Answer ✔A measure of the performance
of a specific activity at a predetermined level or amount.

What is an example of a key performance indicator based on a ratio? -Correct Answer
✔Inventory turnover.

What is the progress of a key performance indicator? -Correct Answer ✔A measure of
the progress an organization has made toward attaining its goals within a specific
amount of time.

What answers the question, what shows we are a success and working towards goals,
financial or nonfinancial? -Correct Answer ✔A key performance indicator.

Organizations goals and objectives are met by establishing measurable standards.
What is true about those standards? -Correct Answer ✔For each key performance
indicator, there is a tolerance level for how much deviation from the standard
established in the key performance indicator will be acceptable.



AIDA 182 Exam

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