Rmin 5100 - Study guides, Class notes & Summaries

RMIN 5100S Test 1 Atkinson Questions and Answers | Latest Update | 2024/2025 | Graded A+ What is risk avoidance in risk management? Risk avoidance involves eliminating a risk entirely by choosing not to engage in the activity that creates the risk. How does risk retention function in risk management? Risk retention occurs when an individual or organization chooses to accept and retain the financial responsibility for a risk instead of transferring it to an insurer. What is the...

categories of commercial loss exposures - property, personnel, liability, net income loss property loss - - tangible: personal property, real estate -intangible: patent, copyright personnel loss - death, disability, injury, retirement liability loss - your responsibility to someone else for property damage, bodily injury, or net income loss net income loss - reduction in income due to a direct loss

categories of commercial loss exposures (4) - 1. property 2. personnel 3. liability 4. net income commercial property loss exposures - type of property causes of loss to property financial consequences of property losses commercial property coverage part types of property - real and personal real property - land & buildings, all property permanently attached to buildings, driveways, sidewalks, underground piping, etc, plumbing, wiring, HVAC

RMIN 5100S exam 2 study guide |Questions with 100% Correct Answers | Verified | Latest Update 2024 Graded A+

RMIN 5100S Test 2 Brown | 123 questions and answers | 100% verified correct

Brown RMIN 5100s Test 1 Questions and Answers 2024 Categories of commercial loss exposures - Correct Answer-1. property loss 2. personnel loss 3. liability loss 4. net income loss Property loss - Correct Answer--tangible (real estate, personal property) -intangible (patent, copyright) Personnel Loss - Correct Answer-death, disability, retirement, injury of employees liability loss - Correct Answer-your responsibility for bodily injury, property damage, or financial loss to someone net ...

FINAL EXAM BROWN RMIN 5100S SOLVED CORRECTLY!!

Brown RMIN 5100s test 1 questions and answers 2024

QUESTIONS AND ANSWERS

Insurance - the equitable transfer of the risk of loss from one entity to another in exchange for payment Risk - 1) chance of loss 2) uncertainty of loss 3) difference between expected and actual losses over a period of time Risk Management - the identification, assessment, and prioritization of risks followed by coordinated and economical application of resources to minimize, monitor, and control the probability and/or impact of the uncertainty