Nondiversifiable risk Study guides, Class notes & Summaries

A.R.M. 400 Exam Practice Exam 2023 With Correct Answers… When communicating a decision up the organization's chain of command, consulting with outside experts can help a risk management professional do which one of the following? A. Seek feedback from stakeholders B. Stay focused on the organization's objectives C. Define the organization's risk appetite D. Enhance stakeholders' confidence in the process D Which of the following risk management program goals is an essential goal for a...

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...

Drones may be equipped with cameras that relay data in real-time Which one of the following uses infrared light to detect nearby objects? - Answer- Lidar 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 from the National Weather Service, and hurricane safety measures. The company ...

ETS MFT BUSINESS EXAM The principal difference between variable costing and absorption costing centers on: a) whether variable manufacturing costs should be included as product costs b) whether fixed manufacturing costs should be included as product costs c) whether fixed manufacturing costs and fixed selling and administrative costs should be included as product costs d) none of these. General Bikes is debating which marketing research options to employ. The traditional p...

RMIN 4000 uga test 1 latest 2024 actual questions and answers with complete solution types of risk - -pure risk -speculative risk -diversifiable risk -nondiversifiable risk -enterprise risk -systemic risk

ARM 400,Risk in an Evolving World Exam Prep |Guide with Questions and Verified Answers| 100% Correct| Grade A (Latest 2023/ 2024 Update) Q: tolerable uncertainty components Answer: reduce downside risk, earnings stability, anticipate and recognize emerging risks, business continuity Q: continuity of operations Answer: essential goal for all public entities Q: holistic risk management goals Answer: tolerable uncertainty, profitability and growth, legal and reg...

Risk quadrants are different from risk classifications. Risk quadrants focus on what? - 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? - Normally managed by risk management professionals. What are the four risks in the enterprise risk management model? - Hazard, operational, financial, and hazard. What risk quadrant is the change of stocks or bond...

RMIN 4000 UGA Test 1 Questions and Answers (Graded A)RMIN 4000 UGA Test 1 Questions and Answers (Graded A)RMIN 4000 UGA Test 1 Questions and Answers (Graded A)types of risk - ANSWER--pure risk -speculative risk -diversifiable risk -nondiversifiable risk -enterprise risk -systemic risk risk - ANSWER-uncertainty concerning the occurrence of a loss uncertainty - ANSWER-probabilities cannot be estimated loss exposure - ANSWER-any situation or circumstance in which a loss is possible, r...

Risk involves The possibility of a negative outcome. Possibility means - That an outcome may or may not occur. Probabilities are stated as decimal figure, a percentage, or a - Fraction To understand risk, one needs to know the probability of an outcome or event occurring. Which one of the following statements is correct with respect to probability? - It can be used to decide which activities to undertake. The statement, "There is a five percent chance that John will be injured in an au...

Exposures Things of value (assets) that could be lost (Any situation/circumstance in which a loss is possible, regardless of whether a loss actually occurs) Perils Things that could happen to your assets - cause of loss Risk Management What you do to protect these assets and/or prevent/reduce losses (Identifies loss exposures faced by an organization and selects the most appropriate techniques for treating such exposures) Risk The calculated possibility of a negative outcome Loss Negative...