Rmi 2302 exam 1 - Study guides, Class notes & Summaries

RMI 2302 FSU NYCE EXAM 1 Questions And Answers (Verified And Updated) Risk Likelihood - answerFrequency - the probability that a loss can occur. What 3 ways can Risk Likelihood be categorized - answerHigh - an event is expected to happen in most circumstances Medium - an even will probably happen in many circumstances Low - an event may occur at some point Risk Impact - answerSeverity - the potential effect that a loss could have if it arises. Risk prevention methods are best applied to ...

Exam 2 RMI 2302 - FSU Dr. Nyce Exam Questions With Verified Answers Who uses decision making ? - answerIndividuals Organizations Government Individuals use expected ____ - answerUtility Organizations use expected ____ - answerValue What entity is able to take on risk regardless of the reward - answerGov't What is one of the big problems we have with modeling how decisions are made? - answerDecisions are made is that they do not explicitly account for biases on the part of the decision...

RMI 2302 Chapter 1- Basic Of Risk Exam Questions With Verified Answers What is Risk? - answerUncertainty Regarding Loss How to measure risk? - answerIn Standard Deviation or Variation Can information alter risk? - answerNo, but it can alter uncertainty Pure Risk - answerA category of risk in which loss is the only possible outcome; there is no beneficial result Speculative Risk - answerA category of risk that, when undertaken, results in an uncertain degree of gain or loss. Static Risk ...

RMI 2302 FSU NYCE Final EXAM 1 Correct Question and Answers What are the eight categories of risk? Static Dynamic Core Secondary Fundamental Particular Speculative Pure What are the 4 sources of risk? Personal Property Liability Financial What are the 2 types of Hazards? Physical (tangible) and Intangible Hazards What are the three types of intangible hazards? Moral Morale Societal What are the three attitudes towards risk? Risk Averse Risk Seeker Risk Neutral What typ...

RMI 2302 FINAL EXAM PREP QUESTIONS WITH ANSWERS COMPLETE 2023. The pre-transition phase of the demographic transition was characterized by - answerPopulation maintenance What term best describes the ability of the environment to support a population? - answerCarrying capacity Results of an aging population - answer1. US will become more influential 2. Population of developed nations will decrease as a percentage of global totals 3. GDP of developed nations will decrease as a percentage of ...

RMI 2302 Chapter 1- Basic Of Risk Exam Questions With Verified Answers What is Risk? - answerUncertainty Regarding Loss How to measure risk? - answerIn Standard Deviation or Variation Can information alter risk? - answerNo, but it can alter uncertainty Pure Risk - answerA category of risk in which loss is the only possible outcome; there is no beneficial result Speculative Risk - answerA category of risk that, when undertaken, results in an uncertain degree of gain or loss. Static Risk ...

FSU - Nyce RMI 2302- Exam 1 Review + Modules 1-5 Chapter Quizzes What effect do political incentives have on the discount rate used to make governmental decisions? A) Increase the discount rate B) Decrease the discount rate C) The discount rate is unaffected D) There is no way of knowing the effect on the discount rate - Answer- A) Increase the discount rate True or False: Normative Questions ask what "should" be. - Answer- True. Callie is a supervisor at a firm...

Exam 2 RMI 2302 - FSU Dr. Nyce Exam Questions With Verified Answers Who uses decision making ? - answerIndividuals Organizations Government Individuals use expected ____ - answerUtility Organizations use expected ____ - answerValue What entity is able to take on risk regardless of the reward - answerGov't What is one of the big problems we have with modeling how decisions are made? - answerDecisions are made is that they do not explicitly account for biases on the part of the decision...

RMI 2302 NYCE EXAM 2 Risk/ Reward - Answer- - Individuals - Organizations - Gov't/ Society Individuals (risk/ reward) - Answer- - Measured using expected utility - How much reward is necessary to induce you to take risk? - Similarly, how much are you willing to pay to avoid risk? This is actually the entire basis of insurance, people willing to pay to avoid risk Ex) - $5 wealth - 50/50 chance of ending up with $1 or $9 dollars - utility function is the sq. root function...