Collision frequency - Study guides, Class notes & Summaries

RMIN 4000 Exam 1 Brown Study Guide Solutions Textbook definition of RISK - ANSWER-Uncertainty concerning the occurrence of a loss Better definition of RISK - ANSWER-A calculated possibility of a negative outcome Calculated Possibility - ANSWER-0 = Impossible event (NO RISK) 0.5 = Highest Risk (Most Uncertainty) 1 = 100% Certain Event (NO RISK Negative Outcome - ANSWER-Loss Losses must be __________? - ANSWER-Quantifiable Pure Risk States - ANSWER-Loss or Copyright ©EMILYCHARLENE2025...

1. Lannister Insurance Company insures 200,000 vehicles. In 2019, they paid a total of $136,000,000 in collision losses to the owners of 16,000 of those vehi- cles. What was Lannister's collision loss frequency in 2019?: Ans- 0.08 (16k/200k) 2. Lannister Insurance Company insures 200,000 vehicles. In 2019, they paid a total of $136,000,000 in collision losses to the owners of 16,000 of those ve- hicles. What was Lannister's collision loss severity in 2019?: Ans- 8500 (136M/16K) 3. Michae...

Final Study Set: RMIN 4000 - Daniel Jeremy Brown Questions and Answers Rated A+ Exposures Things of value (assets) that could be lost (Any situation/circumstance in which a loss is possible, regardless of whether a loss actually occurs) Perils Things that could happen to your assets - cause of loss Risk Management What you do to protect these assets and/or prevent/reduce losses (Identifies loss exposures faced by an organization and selects the most appropriate techniques for tre...

frequency - ANSWER-- how often does a loss occur? - the number of losses (such as fire, theft, collision) that occur within a specified time period. - probability of a loss ex) probability of a fire is 0.0071 per loss exposure per year severity - ANSWER-- how much does it cost when a loss does occur? - the dollar amount of loss for a specific peril (fire, theft, collision). ex) average fire loss is $32,547 peril - ANSWER-- cause of a loss - things that could happen to assets - ...

RMIN 4000 FINAL EXAM BROWN UNIVERSITY ACTUAL QUESTIONS AND ANSWERS 100% CORRECT Lannister Insurance Company insures 200,000 vehicles. In 2019, they paid a total of $136,000,000 in collision losses to the owners of 16,000 of those vehicles. What was Lannister's collision loss frequency in 2019? 0.08 (16k/200k) Lannister Insurance Company insures 200,000 vehicles. In 2019, they paid a total of $136,000,000 in collision losses to the owners of 16,000 of those vehicles. What was Lannister's c...

Edexcel IGCSE Physics, question and answer average speed = distance / time v = d / t Standard Unit for mass (m) kilogram (kg) Standard Unit for distance (d) or displacement (s) metre (m) Standard Unit for speed (s) or velocity (v) metre/second (m/s) Standard Unit for acceleration (a) metre/second² (m/s²) Standard Unit for Force (F) Newton (N) Standard Unit for time (t) Second (s) Standard Unit for gravitational field strength (g) ...

Lannister Insurance Company insures 200,000 vehicles. In 2019, they paid a total of $136,000,000 in collision losses to the owners of 16,000 of those vehicles. What was Lannister's collision loss frequency in 2019? - ANSWER-0.08 (16k/200k) Lannister Insurance Company insures 200,000 vehicles. In 2019, they paid a total of $136,000,000 in collision losses to the owners of 16,000 of those vehicles. What was Lannister's collision loss severity in 2019? - ANSWER-8500 (136M/16K) Michael Scott...

chance or uncertainty of loss - ANSWER risk another term that means almost the same thing as risk is ______________ - ANSWER exposure people have developed several different methods for managing risks for serious financial losses. One method is simply to _________________. For example you can ___________ the risk of being in an auto collision by never getting into a car. - ANSWER avoid risk, avoid is isn't practical to avoid all risks. fortunately you can also ___________ risk to some ...

RMIN 4000 UGA- Brown- exam 1 Study Guide Solutions definition of risk - ANSWER-A calculated possibility of a negative outcome calculated possibility - ANSWER-probabilistic outcome, ranges from 0-1 (0-100%) negative outcome - ANSWER-loss, must be quantifiable ($) frequency - ANSWER--"how often does a loss occur?" -number of losses in a certain time period -probability of a loss Severity - ANSWER--"how much does it cost when a loss occurs?" - dollar amount how to calculate fr...

RMIN 4000 UGA- Brown- Exam 1 Questions And Answers Rated A definition of risk A calculated possibility of a negative outcome calculated possibility probabilistic outcome, ranges from 0-1 (0-100%) negative outcome loss, must be quantifiable ($) frequency -"how often does a loss occur?" -number of losses in a certain time period -probability of a loss Severity -"how much does it cost when a loss occurs?" - dollar amount how to calculate frequency # of losses/# of exposure...