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RMI 2101 Exam 1 Questions With Verified And Updated Answers Risk - answerUncertainty about future losses No uncertainty= no risk Probablilty of a loss - answer-Likelihood of a loss - Range from 0-1 or 0% to 100% Common Elements of pure risk and speculative risk - answer_Involve uncertainty Di...

RMI 2101 Exam 1 Questions With Verified And Updated Answers Risk - answeris the uncertainty about future losses or outcomes Probability - answerlikelihood that an outcome or event will occur Pure Risk - answeris a chance of loss or no loss but no chance for gain; always undesirable Good Example...

RMI 2101 Exam 2 Questions With Verified And Updated Answers What are risk transfers of the financing type? (6) - answerInvolves the transfer of risk through insurance or non-insurance techniques to shift the financial responsibility of a loss to another party. The activity or asset is still expo...

RMI 2101 topic 1 Exam Questions With Verified And Updated Answers Pure Risk - answerA risk where there is a loss or no loss Speculative Risk - answerA risk where there is a loss, gain or neither Static Risk - answerRisk where it does not really change significantly over time (ex: nature disaste...

RMI 2101 Quiz 1 Exam Questions With Verified And Updated Answers Pure Risk - answer-A chance of loss or no loss, no chance of gain (fire, flood, death, sickness) Speculative Risk - answera chance of loss, no loss, or gain (gambling, buying stocks or homes) --BASIS FOR ENTERPRISE RISK MANAGEMEN...

RMI 2101 Exam 3 Questions With Verified And Updated Answers Insurance Supply - answerInsurers are willing to sell insurance at a particular price. Pi - answerPrice of insurance Pi = P* + Risk Charge + Loading Pmax - answerthe most an individual will pay for insurance for a particular risk. Ris...

RMI 2101 Topic 10 Exam Questions With Verified And Updated Answers Employee Benefits - answerAny type of compensation other than direct current salary or wages Reasons why firms offer employee benefits - answer-Attract and retain capable employees -Tax advantages -Productivity and better emplo...

RMI 2101 Exam Questions With Verified And Updated Answers Issues of employer provided healthcare benefits - answerHigh cost of health care -High cost of inflation compared to overall rate of inflation -High premiums for employers -High costs for governments High % of uninsured or underinsured ...