1 Exam (elaborations) CPCU 500 Final Review Exam Fully Solved 100% 2024. 2 Exam (elaborations) CPCU 500 Final Exam Questions And Correct Answers 2024 3 Exam (elaborations) CPCU 500 Actual Exam With Complete Solutions 2024. 4 Exam (elaborations) CPCU 500 Assessement Exam Questions And Updated Ans...
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The risk of increased competetition falls into the category of which quadrant of risk - Answer Strategic Risk Failing to respond to changing customer demand and preferences in the design could drop the market share. Which quadrants of risk is this? - Answer Strategic risk, arise from trends i...
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Add to cartThe risk of increased competetition falls into the category of which quadrant of risk - Answer Strategic Risk Failing to respond to changing customer demand and preferences in the design could drop the market share. Which quadrants of risk is this? - Answer Strategic risk, arise from trends i...
Probability - Answer The likelihood that an outcome or event will occur. Pure Risk - Answer A chance of loss or no loss, but no chance of gain. Speculative Risk - Answer A chance of loss, no loss, or gain. Credit Risk - Answer The risk that customers or other creditors will fail...
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Add to cartProbability - Answer The likelihood that an outcome or event will occur. Pure Risk - Answer A chance of loss or no loss, but no chance of gain. Speculative Risk - Answer A chance of loss, no loss, or gain. Credit Risk - Answer The risk that customers or other creditors will fail...
Retention - Answer A risk financing technique by which losses are retained by generating funds within the organization to pay for the losses Transfer - Answer In the context of risk management, a risk financing technique by which the financial responsibility for losses and variability in cash...
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Add to cartRetention - Answer A risk financing technique by which losses are retained by generating funds within the organization to pay for the losses Transfer - Answer In the context of risk management, a risk financing technique by which the financial responsibility for losses and variability in cash...
fortuitous loss - Answer a loss that is accidental and unexpected fortuitous loss - Answer a loss that is accidental and unexpected pooling - Answer arrangement that facilitates the grouping of loss exposures and the resources to pay for any losses that may occur independent - Answer ...
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Add to cartfortuitous loss - Answer a loss that is accidental and unexpected fortuitous loss - Answer a loss that is accidental and unexpected pooling - Answer arrangement that facilitates the grouping of loss exposures and the resources to pay for any losses that may occur independent - Answer ...
Key questions in determining insurable interest - Answer 1. What is insurable interest 2. When must insurable interest exist 3. Why require insurable interest 4. What is the legal basis of insurable interest 5. What happens when insurable interest overlap Problems associated with maintain i...
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Add to cartKey questions in determining insurable interest - Answer 1. What is insurable interest 2. When must insurable interest exist 3. Why require insurable interest 4. What is the legal basis of insurable interest 5. What happens when insurable interest overlap Problems associated with maintain i...
Risk - Answer the uncertainty about outcomes, with the possibility that some of the outcomes can be negative. Quantified by knowing the probability of the possible outcomes Probability - Answer the likelihood that an outcome or event will occur. Probabilities are stated as a decimal figure, a...
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Add to cartRisk - Answer the uncertainty about outcomes, with the possibility that some of the outcomes can be negative. Quantified by knowing the probability of the possible outcomes Probability - Answer the likelihood that an outcome or event will occur. Probabilities are stated as a decimal figure, a...
The use of data gleaned from sensors to react immediately to hazardous situations is known as - Answer real time risk management which one of the following is the network through which sensors and other smart products capture and transmit data - Answer internet of things insurers and risk ...
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Add to cartThe use of data gleaned from sensors to react immediately to hazardous situations is known as - Answer real time risk management which one of the following is the network through which sensors and other smart products capture and transmit data - Answer internet of things insurers and risk ...
Which one of the following statements is true about an organization's balance sheet? Select one: A. Total liabilities minus owners' equity equals total assets on the balance sheet. B. The balance sheet shows the financial position of a business on a specific date. C. The balance sheet summar...
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Add to cartWhich one of the following statements is true about an organization's balance sheet? Select one: A. Total liabilities minus owners' equity equals total assets on the balance sheet. B. The balance sheet shows the financial position of a business on a specific date. C. The balance sheet summar...
probability - Answer the likelihood that an outcome or event will occur pure risk - Answer a chance of loss or no loss, but no chance of gain speculative risk - Answer a chance of loss, no loss or gain credit risk - Answer the risk that customers or other creditors will fail to ...
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Add to cartprobability - Answer the likelihood that an outcome or event will occur pure risk - Answer a chance of loss or no loss, but no chance of gain speculative risk - Answer a chance of loss, no loss or gain credit risk - Answer the risk that customers or other creditors will fail to ...
Which one of the following statements about the use of drones is true? - Answer Drones may be equipped with cameras that relay data in real-time Which one of the following uses infrared light to detect nearby objects? - Answer Lidar AMRM Insurance Company sells insurance in Virginia, North...
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Add to cartWhich one of the following statements about the use of drones is true? - Answer Drones may be equipped with cameras that relay data in real-time Which one of the following uses infrared light to detect nearby objects? - Answer Lidar AMRM Insurance Company sells insurance in Virginia, North...
insurtech - Answer the use of emerging technologies in the insurance industry connected ecosystem - Answer The emerging technologies applied to risk assessment and control link the physical domain to the virtual domain. Together, these domains linked by the emerging technologies create a m...
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Add to cartinsurtech - Answer the use of emerging technologies in the insurance industry connected ecosystem - Answer The emerging technologies applied to risk assessment and control link the physical domain to the virtual domain. Together, these domains linked by the emerging technologies create a m...
Which one of the following best illustrates the benefit of insurance in driving economic growth? Select one: A. Protecting drivers from large lawsuits if they injure someone while driving. B. Providing a guarantee to mortgage lenders against loss of a home by fire. C. Transforming what would oth...
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Add to cartWhich one of the following best illustrates the benefit of insurance in driving economic growth? Select one: A. Protecting drivers from large lawsuits if they injure someone while driving. B. Providing a guarantee to mortgage lenders against loss of a home by fire. C. Transforming what would oth...
Smart Products - Answer An innovative item that uses sensors and data collection, transmission, and analysis to further enable the item to be faster, more useful, or otherwise improved Internet of Things (IoT) - Answer A network of objects that transmit data to and from each other without human...
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Add to cartSmart Products - Answer An innovative item that uses sensors and data collection, transmission, and analysis to further enable the item to be faster, more useful, or otherwise improved Internet of Things (IoT) - Answer A network of objects that transmit data to and from each other without human...
Big Data - Answer Sets of data that are too large to be gathered and analyzed by traditional methods Smart product - Answer 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 ...
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Add to cartBig Data - Answer Sets of data that are too large to be gathered and analyzed by traditional methods Smart product - Answer 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 ...
What are the two elements of risk? - Answer -Uncertainty of outcome - Time of the outcome and type of outcome are uncertain -possibility of a negative outcome - at least 1 outcome is negative What is the difference between probability and possibility? - Answer Possibility - an outcome or e...
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Add to cartWhat are the two elements of risk? - Answer -Uncertainty of outcome - Time of the outcome and type of outcome are uncertain -possibility of a negative outcome - at least 1 outcome is negative What is the difference between probability and possibility? - Answer Possibility - an outcome or e...
For public entities such as cities, counties and public utilities, which one of the following is normally the most important post-loss risk management goal? Choose one answer. A. Growth B. Profitability C. Continuity of operations D. Earnings stability - Answer C. Continuity of opera...
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Add to cartFor public entities such as cities, counties and public utilities, which one of the following is normally the most important post-loss risk management goal? Choose one answer. A. Growth B. Profitability C. Continuity of operations D. Earnings stability - Answer C. Continuity of opera...
In insurance terminology, trucks, trailers, buses, fire engines, and ambulances designed for road use are examples of which one of the following categories of motor vehicles? - Answer Auto Property insurance policies generally refer to the contents of a commercial building as - Answer Busines...
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Add to cartIn insurance terminology, trucks, trailers, buses, fire engines, and ambulances designed for road use are examples of which one of the following categories of motor vehicles? - Answer Auto Property insurance policies generally refer to the contents of a commercial building as - Answer Busines...
In the context of risk, the chance of being injured while driving to and from work, loading a truck at work, moving furniture at home, or falling in an icy parking lot at the mall are all examples of A. Possibilities. B. Uncertainties. C. Probabilities. D. Losses. - Answer A. Possibil...
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Add to cartIn the context of risk, the chance of being injured while driving to and from work, loading a truck at work, moving furniture at home, or falling in an icy parking lot at the mall are all examples of A. Possibilities. B. Uncertainties. C. Probabilities. D. Losses. - Answer A. Possibil...
The fundamental purpose of a risk management framework is to A. Reduce the cost of risk. B. Define and eliminate potential losses. C. Maximize profits for all stakeholders. D. Integrate risk management throughout the organization. - Answer D. Integrate risk management throughout the organizati...
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Add to cartThe fundamental purpose of a risk management framework is to A. Reduce the cost of risk. B. Define and eliminate potential losses. C. Maximize profits for all stakeholders. D. Integrate risk management throughout the organization. - Answer D. Integrate risk management throughout the organizati...
Economy of Operations - Answer increase departmental and organizational efficiency, pre-loss risk mgmt goal Toerable uncertainty - Answer provide an awareness of potential losses and an assurance of their effective management keeping the worry of accidental loss at a tolerable level (pre-lo...
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Add to cartEconomy of Operations - Answer increase departmental and organizational efficiency, pre-loss risk mgmt goal Toerable uncertainty - Answer provide an awareness of potential losses and an assurance of their effective management keeping the worry of accidental loss at a tolerable level (pre-lo...
Autonomous Vehicle Applications (AVA) is a start-up company that develops safety technologies that can be sold to companies that are producing autonomous vehicles. One technology AVA is developing allows an autonomous vehicle to detect, extract, and analyze images; and then to respond to the images....
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Add to cartAutonomous Vehicle Applications (AVA) is a start-up company that develops safety technologies that can be sold to companies that are producing autonomous vehicles. One technology AVA is developing allows an autonomous vehicle to detect, extract, and analyze images; and then to respond to the images....
Key Elements of Risk - Answer 1. Uncertainty 2. Possibility Speculative Risk Include - Answer 1. Price Risk 2. Credit Risk 3. Inflation Risk 4. Financial Risk 5. Liquidity Risk 6. Interest Rate Risk 7. Market Risk Major Ways to Classify Risk - Answer 1. Pure risk versus Specula...
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Add to cartKey Elements of Risk - Answer 1. Uncertainty 2. Possibility Speculative Risk Include - Answer 1. Price Risk 2. Credit Risk 3. Inflation Risk 4. Financial Risk 5. Liquidity Risk 6. Interest Rate Risk 7. Market Risk Major Ways to Classify Risk - Answer 1. Pure risk versus Specula...
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