Exam (elaborations)
Cpcu 500 - Chapter 1 Questions And Answers With Verified Solutions 100% Correct!!!
- Course
- Institution
Cpcu 500 - Chapter 1 Questions And Answers With Verified Solutions 100% Correct!!!
[Show more]
1 review
By: rlawk02 • 3 weeks ago
Content preview
Cpcu 500 - Chapter 1 Questions AndAnswers With Verified Solutions 100%
Correct!!!
ERM - ANSWER✔✔ (enterprise risk management) The comprehensive process of
evaluating, measuring, and mitigating the many risks that pervade an
organization.
Big Data - ANSWER✔✔ Capture, storage, and analysis of data
Smart Products - ANSWER✔✔ Sense their environment, process data, and
communicate with other smart products and smart operations
Internet of Things (IoT) - ANSWER✔✔ A network of objects that transmit data to
and from each other without human interaction
Cloud Computing - ANSWER✔✔ Info, technology, and storage services
contractually provided from remote locations, through the internet or another
network, without a direct server connection
Blockchain - ANSWER✔✔ A distributed digital ledger that facilitates secure
transactions without the need for a third party
- aka. system of verification and confirmation
- maintains a continuously growing list of records (blocks) in chronological order;
a new block is created each time a transaction occurs
Mining - ANSWER✔✔ Consensus process that confirms and verifies
, - removed intermediary validation and establishes trust without a centralized
authority
4 examples of data-driven decision making - ANSWER✔✔ 1. Telematics
2. Discovering new relationships in data
3. Text mining
4. Developing new products
Telematics - ANSWER✔✔ The use of technological devices in vehicles with
wireless communication and GPS tracking that transmit data to businesses or
government agencies; some return information for the driver.
Text Mining - ANSWER✔✔ Obtaining info through language recognition
Insurtech - ANSWER✔✔ The use of emerging technologies in the insurance
industry
- reduces the uncertainty associated with predicting future events
Sensor - ANSWER✔✔ A device that detects and measures stimuli in its
environment
- an IoT object that collects and transmits data
- they assess risk by detecting and measuring objects or conditions on a
continuous basis, which provides early warnings
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller classhub. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $13.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
74735 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now