RPTM 390 Exam 2 Question and answers correctly solved
3 views 0 purchase
Course
RPTM
Institution
RPTM
RPTM 390 Exam 2 Question and answers correctly solved RPTM 390 Exam 2
What is risk management? - correct answer Controlling financial and personal injury losses from sudden, unforeseen, unusual accidents, and intentional torts. Also about delivering a quality program
Risk Management Cyc...
RPTM 390 Exam 2
What is risk management? - correct answer ✔Controlling financial and
personal injury losses from sudden, unforeseen, unusual accidents, and
intentional torts. Also about delivering a quality program
What are the different categories or types of risk that can be identified by a
manager? - correct answer ✔- accident reports
- legal precedents
- Scheduled property/facility examinations
- attending professional conferences/seminars
1.Public liability caused by negligence: Accidental injuries to participants
including death
2.Public liability other than negligence: Product liability, intentional torts,
employment practices, sexual harassment
3.Property exposures: Financial risks related to the ownership of real or
personal property such as loss due to fire, weather, vandalism, and theft
4.Financial risks due to business operations: Losses due to embezzlement,
employee accidents, business interruption
What are the primary elements of risk evaluation? - correct answer
✔Frequency and severity
What are the four acceptable options for treating risk - correct answer
✔Avoid or close (insurance company)
, Transfer (most popular)
Retention (self-insurance)
Reduction (develop a plan )
How would a person determine which treatment to apply to a risk? - correct
answer ✔Level of frequency and magnitude of loss in dollars
How does one implement a risk treatment strategy? What are some
guidelines? - correct answer ✔- Hire risk management committee
- provide the manager with authority
- Involve all employees in the process (involve - frontline employees)
- Use sound training program
- Print guidelines
What is an Emergency Action Plan (EAP)? - correct answer ✔Document
written by OSHA standards, facilitates how the employer and employees acts
during a workplace emergency
How does it differ from a Crisis Management Plan (CMP)? - correct answer
✔CMP is after the fact EAP is in the moment during the emergency
CMP: have one person to address the media, post crisis issues (medical),
how to handle not being operational for extended hours
What are the critical components for each type of plan? - correct answer
✔Create a planning team
Address facility issues (alarm, emergency medical)
Address equipment issues
Communication
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 Academia199. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $13.99. You're not tied to anything after your purchase.
