Rmi 2302 - Study guides, Class notes & Summaries

Exam 2 RMI 2302 - FSU Dr. Nyce Questions With Complete Solutions

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RMI 2302 Nyce Module 8 Latest Update Graded A+ Business risk Deviations in profitability. This is a very broad category of risk that is caused by operational, hazard, financial, or strategic risks. Business risk can be caused by: • Prices • Regulation • Competition, etc Operation risk Potential losses from internal sources: • Manufacturing processes • Fraud • Mismanagement • Employee mistakes Hazard risk Typically used in insurance industry to describe poten...

RMI 2302 Nyce Module 2 Latest Update Graded A+ A Scientific View of Risk Probability of a person suffering an adverse effect from some activity or exposure over a given period of time/involvement. -ADDS A TIME ELEMENT Risk Reduction and Public Policy Risk Reduction has costs (both monetary and non- monetary) Requires putting a value on human life How much are you worth? Parents? Grandparents? How do you balance risk/reward? Can drive highway deaths to near zero (reduce speed li...

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Exam 2 RMI 2302 - FSU Dr. Nyce (Questions & Answers)

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RMI 2302 Final Exam Nyce UPDATED Actual Exam Questions and CORRECT Answers The number of years between same-sized natural disaster events is also known as - CORRECT ANSWER- Return Period Frequency and magnitude of natural disasters typically have a _____ ? - CORRECT ANSWER- Inverse relationship Risks of "high concern" in the Global Risk Report 2014 - CORRECT ANSWER- 1. Food crisis 2. Water crisis 3. Political instability