Cpcu 500 exam stuvia - Study guides, Class notes & Summaries

For public entities such as cities, counties and public utilities, which one of the following is normally the most important post-loss risk management goal? Choose one answer. A. Growth B. Profitability C. Continuity of operations D. Earnings stability - ANSWERSC. Continuity of operations Which one of the following is the goal of enterprise-wide risk management (ERM)? Choose one answer. A. Coordinate loss reduction efforts B. Reduce risk management costs C. Decentrali...

In the context of risk, the chance of being injured while driving to and from work, loading a truck at work, moving furniture at home, or falling in an icy parking lot at the mall are all examples of A. Possibilities. B. Uncertainties. C. Probabilities. D. Losses. - ANSWERSA. Possibilities. The statement, "There is a five percent chance that John will be injured in an automobile accident while driving to work tomorrow," is an example of A. Quantifying risk. B. Verifying ri...

Which one of the following statements about the use of drones is true? - ANSWERSDrones may be equipped with cameras that relay data in real-time Which one of the following uses infrared light to detect nearby objects? - ANSWERSLidar AMRM Insurance Company sells insurance in Virginia, North Carolina, South Carolina, and Georgia. The company has compiled a policyowner data base that can be used to send text messages when hurricanes approach. The company provides early warnings, storm updates...

CPCU 500 Practice Exam 1 Questions and Answers Correct 100%CPCU 500 Practice Exam 1 Questions and Answers Correct 100%CPCU 500 Practice Exam 1 Questions and Answers Correct 100%CPCU 500 Practice Exam 1 Questions and Answers Correct 100%CPCU 500 Practice Exam 1 Questions and Answers Correct 100% Autonomous Vehicle Applications (AVA) is a start-up company that develops safety technologies that can be sold to companies that are producing autonomous vehicles. One technology AVA is developing allows...

CPCU 500 3rd Edition Final Practice Exam 1 Questions and Answers 100% VerifiedCPCU 500 3rd Edition Final Practice Exam 1 Questions and Answers 100% VerifiedCPCU 500 3rd Edition Final Practice Exam 1 Questions and Answers 100% VerifiedCPCU 500 3rd Edition Final Practice Exam 1 Questions and Answers 100% Verified Risk involves the possibility of a negative outcome. Possibility means - ANSWERSThat an outcome may or may not occur. Risk can be classified as subjective or objective. Which one of t...

Describe the 2 elements of risk - ANSWERS1.) Uncertainty of outcomes: risk involves uncertainty about the type of outcome, timing o outcome, or both 2.) possibility of a negative outcome: at least of the potential outcomes is negative Whats the difference between possibility and probability? - ANSWERSPossibility: outcome may or may not occur Probability: likelihood that an outcome will occur Does Possibility or Probability measure risk? - ANSWERSProbability does, possibility DOES NOT...

Risk - Answer- the uncertainty about outcomes, with the possibility that some of the outcomes can be negative. Quantified by knowing the probability of the possible outcomes Probability - Answer- the likelihood that an outcome or event will occur. Probabilities are stated as a decimal figure, a percentage, or a fraction. What are the 2 elements associated with risk? - Answer- uncertainty of outcome + possibility of negative outcome Pure Risk - Answer- a chance of loss or no loss, but no chance o...

CPCU 500 Practice Exam - Assignment 2 questions and answers 2024

Which one of the following statements is correct regarding the challenges of delivering messages to internal and external stakeholders? Select one: A. When you suspect a person's comments are the result of a hidden agenda, it is best to leave them unaddressed. B. When addressing individuals of different status levels, it is best to ask for ideas from lower-level persons before turning to those of higher standing. C. When you need to persuade your audience, it is best to use reason r...

Autonomous Vehicle Applications (AVA) is a start-up company that develops safety technologies that can be sold to companies that are producing autonomous vehicles. One technology AVA is developing allows an autonomous vehicle to detect, extract, and analyze images; and then to respond to the images. For example, the technology would detect a presence in a crosswalk, extract the image, and a computer would analyze the image. When the image was determined to be a human being, the vehicle would slo...