ARM 400 Exam Bundle

According to the law of large numbers, as the number of exposure units insured increases, - correct answer-The relative accuracy of predictions about future losses increases The fundamental purpose of a risk management framework is to - correct answer-Integrate risk management throughout the orga...

Which one of the following statements regarding the structure and role of a board of directors is true? Select one: A. The board of directors must be comprised of ten directors, with an equal number of inside and outside directors. B. The board is responsible for the day-to-day decisions at a cor...

Sets of data that are too large to be gathered and analyzed by traditional methods - correct answer-Big Data An innovative item that uses sensors; wireless sensor networks; and data collection, transmission, and analysis to further enable the item to be faster, more useful, or otherwise improved ...

Which of the following risk management program goals is an essential goal for all public entities? - correct answer-Continuity of operations The fundamental purpose of a risk management framework is to - correct answer-Integrate risk management throughout the organization. Which one of the fol...

Benefits of risk management (6) - correct answer-1. tolerable uncertainty 2. profitability and growth 3. legal and regulatory compliance 4. social responsibility 5. reduced cost of risk 6. reduced deterrent effects of hazard risk Basic risk measures (6) - correct answer-1. exposure 2. volat...

Big Data - correct answer-Set of data that are too large to be gathered and analysed by traditional data. Strategic Redeployment Plan - correct answer-a comprehensive plan for resiliency after a severe disruption Business Impact Analysis (BIA) - correct answer-assesses identified risks and det...

Big Data - correct answer-Sets of data that are too large to be gathered and analyzed by traditional methods. Smart Product - correct answer-An innovative item that uses sensors; wireless sensor networks; and data collection, transmission, and analysis to further enable the item to be faster, mor...

Which one of the following uses infrared light to detect nearby objects? A. Drones B. Robots C. Lidar D. Wearables - correct answer-Lidar Which one of the following is an example of a wearable? A. Helmets that monitor fatigue B. Robots C. Heart monitors D. Unmanned aircraft - correct ...

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 app...

Encouraging the expression of feelings as well as facts and following up with employees on the problems they report are two ways that managers and supervisors can A. Cultivate two-way communication. B. Facilitate active listening. C. Support diverse groups. D. Maintain control of the conversatio...