AIDA 182 PASSED Actual Exam Questions and CORRECT Answers
9 views 0 purchase
Course
AIDA
Institution
AIDA
AIDA 182 PASSED Actual Exam Questions
and CORRECT Answers
strategic risk - CORRECT ANSWER- Arise from trends in the economy and society,
including changes in the economic, political, and competitive environments, as well as from
demographic shifts
-risk of increased competition
failing to...
AIDA 182 PASSED Actual Exam Questions
and CORRECT Answers
strategic risk - CORRECT ANSWER- ✔✔Arise from trends in the economy and society,
including changes in the economic, political, and competitive environments, as well as from
demographic shifts
-risk of increased competition
failing to respond to the changing customers demand and preferences...
4 quadrants this exposure of loss is
Likelihood and Consequences - CORRECT ANSWER- ✔✔the relationship between which
two basic measures is critical for risk management in assessing risk and deciding whether or
how to manage it
covariance - CORRECT ANSWER- ✔✔Measures the extent to which variables move
together or independently
varies predictably with some other variable - CORRECT ANSWER- ✔✔regression analysis
assumes that the variable being forecast
trend analysis - CORRECT ANSWER- ✔✔better forecast loss frequency and severity
the source of risk and who has traditionally managed it - CORRECT ANSWER-
✔✔classifications of risk focus on some aspect of the risk itself, the four quadrants of risk
focus on
operational risk - CORRECT ANSWER- ✔✔adequacy of suppliers to meet an organizations
needs would be an example of...
arise from failure in processes, systems
hazard and operational risk - CORRECT ANSWER- ✔✔embezzle funds
, exposure - CORRECT ANSWER- ✔✔measure of the maximum potential damage associated
with an occurrence
covariance measures the extent to which two variables move together or independently -
CORRECT ANSWER- ✔✔covariance measures the extent to which two variables move
together or independently
probabilities deduced solely from historical data may change as new data are discovered or
the environment changes - CORRECT ANSWER- ✔✔probabilities deduced solely from
historical data may change as new data are discovered or the environment changes
one way of presenting a continuous probability distribution is to divide the distribution into a
countable number of bins - CORRECT ANSWER- ✔✔continuous probability distributions
represents probability estimates for a particular set of circumstances and the probability of
each possible outcome - CORRECT ANSWER- ✔✔probability distribution
mode, density function - CORRECT ANSWER- ✔✔for a continuous distribution, the ______
is the value of the outcome directly beneath the peak of the probability ____
expected value - CORRECT ANSWER- ✔✔term used for the weighted average of all the
possible outcomes in a theoretical probability distribution
50 percent - CORRECT ANSWER- ✔✔a probability distribution's median has a cumulative
probability of
cumulative probabilities - CORRECT ANSWER- ✔✔can be used to evaluate the effect of
various deductibles and policy limits on insured loss exposures
relative frequency with which it occurs - CORRECT ANSWER- ✔✔the mean is calculated
by weighting each observed outcome by the
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 MGRADES. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $7.99. You're not tied to anything after your purchase.
