Rmi 2302 exam 1 - Study guides, Class notes & Summaries

RMI 2302 Nyce Module 1 Exam Questions With Verified Answers What is Risk? - answerUncertainty Regarding Loss Danger does not equal what? - answerRisk Uncertainty - answerdoubt about our ability to predict future outcomes Sources of risk - answerPersonal Risks Property Risks Liability Risks Financial Risks Exposure - answerperson or property facing risk of loss Peril - answerthe immediate cause of loss Hazard - answercondition affecting the frequency or severity of loss Physical hazar...

RMI 2302 Final Exam Nyce UPDATED Actual Exam Questions and CORRECT Answers The number of years between same-sized natural disaster events is also known as - CORRECT ANSWER- Return Period Frequency and magnitude of natural disasters typically have a _____ ? - CORRECT ANSWER- Inverse relationship Risks of "high concern" in the Global Risk Report 2014 - CORRECT ANSWER- 1. Food crisis 2. Water crisis 3. Political instability

RMI 2302 Final Exam Nyce Questions and Answers Already Passed The number of years between same-sized natural disaster events is also known as Return Period Frequency and magnitude of natural disasters typically have a _____ ? Inverse relationship Risks of "high concern" in the Global Risk Report 2014 1. Food crisis 2. Water crisis 3. Political instability Today, most developed countries have gone from _____ death rates and _____ birth rates to _____ death rates and _____ birth...

RMI 2302 EXAM 1 Increase the discount rate - Answer- What effect do political incentives have on the discount rate used to make governmental decisions? Frequency, severity, expected value, standard deviation - Answer- Which is the best measure of risk? Speculative - Answer- Owning a share of IBM stock is an example of what category of risk? Financial - Answer- The possibility of an organization losing money on its investments is an example of which of the following so...

RMI 2302 Nyce Module 1 Exam Questions With Verified Answers What is Risk? - answerUncertainty Regarding Loss Danger does not equal what? - answerRisk Uncertainty - answerdoubt about our ability to predict future outcomes Sources of risk - answerPersonal Risks Property Risks Liability Risks Financial Risks Exposure - answerperson or property facing risk of loss Peril - answerthe immediate cause of loss Hazard - answercondition affecting the frequency or severity of loss Physical hazar...

RMI 2302 Chapter 1- Basic Of Risk Exam Questions With Verified Answers What is Risk? - answerUncertainty Regarding Loss How to measure risk? - answerIn Standard Deviation or Variation Can information alter risk? - answerNo, but it can alter uncertainty Pure Risk - answerA category of risk in which loss is the only possible outcome; there is no beneficial result Speculative Risk - answerA category of risk that, when undertaken, results in an uncertain degree of gain or loss. Static Risk ...

RMI 2302 FSU NYCE EXAM 1 (Q&A) 2023

RMI 2302 Exam 1 Review Nyce Correct Question and Answers 2024 In Module 1, we discussed sources of risk. The possibility of a homeowner being sued because his dog bit his neighbor, is an example of which source of risk: Liability Fed Ex & UPS have thousands of trucks on the road every day. The possibility of an auto accident is: Peril You decide to store your extra gasoline cans next to your furnace in the basement. Your house is destroyed by fire. In this example, what is the house? ...

RMI 2302 Nyce Module 1 Exam Questions With Verified Answers What is Risk? - answerUncertainty Regarding Loss Danger does not equal what? - answerRisk Uncertainty - answerdoubt about our ability to predict future outcomes Sources of risk - answerPersonal Risks Property Risks Liability Risks Financial Risks Exposure - answerperson or property facing risk of loss Peril - answerthe immediate cause of loss Hazard - answercondition affecting the frequency or severity of loss Physical hazar...

Exam 2 RMI 2302 - FSU Dr. Nyce Exam Questions With Verified Answers Who uses decision making ? - answerIndividuals Organizations Government Individuals use expected ____ - answerUtility Organizations use expected ____ - answerValue What entity is able to take on risk regardless of the reward - answerGov't What is one of the big problems we have with modeling how decisions are made? - answerDecisions are made is that they do not explicitly account for biases on the part of the decision...