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Brown RMIN 5100s Test 1 Exam Questions and Answers 100% Solved $11.49   Add to cart

Exam (elaborations)

Brown RMIN 5100s Test 1 Exam Questions and Answers 100% Solved

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  • Course
  • RMIN 5100
  • Institution
  • RMIN 5100

Brown RMIN 5100s Test 1 Exam Questions and Answers 100% Solved Categories of commercial loss exposures - 1. property loss 2. personnel loss 3. liability loss 4. net income loss Property loss - -tangible (real estate, personal property) -intangible (patent, copyright) Personnel Loss - death,...

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  • October 20, 2024
  • 12
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • RMIN 5100
  • RMIN 5100
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JOSHCLAY
©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.

Brown RMIN 5100s Test 1 Exam

Questions and Answers 100% Solved


Categories of commercial loss exposures - ✔✔1. property loss

2. personnel loss

3. liability loss

4. net income loss

Property loss - ✔✔-tangible (real estate, personal property)

-intangible (patent, copyright)

Personnel Loss - ✔✔death, disability, retirement, injury of employees

liability loss - ✔✔your responsibility for bodily injury, property damage, or

financial loss to someone

net income loss - ✔✔reduction in income due to direct loss

Risk management process - ✔✔1. Identify loss exposures

2. Measure and analyze the loss exposures

3. Consider and select the appropriate risk management techniques

4. Implement and monitor the risk management program

, ©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.

identify loss exposures - ✔✔first step and most important in the risk

management process

How to identify loss exposures - ✔✔-document analysis

-compliance reviews

-inspections

-expertise

Ways to identify loss exposures with document analysis? - ✔✔1. risk

assessment questionnaires and checklists

2. financial statements

3. contracts

4. insurance policies

5. organizational policies

6. flowcharts & organization charts

7. loss histories

Step 2: Measure and Analyze Loss Exposures - ✔✔involves estimating the

likely significance of possible loss exposures based on: frequency, severity,

total dollar losses, maximum possible losses, probable maximum losses

(PML), and timing

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