Rmi 2302 - Study guides, Class notes & Summaries

RMI 2302 Exam 1 Nyce 2024 with complete solution

RMI 2302 FSU NYCE EXAM 1 (Q&A) ALREADY GRADED A+

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...

RMI 2302 Exam 1 Nyce Questions With Complete Solutions.

RMI 2302 Exam 1 Nyce | With 77 questions and answers 2024/25

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 Exam 2 Questions And Answers (Verified And Updated) free market - answerfails to protect consumer interests requiring the government to find appropriate ways to protect us from ourselves; rewards those people who understand consumer behavior and can exploit consumer's weaknesses In a world dominated by rational behavior... - answerthe government could focus on externalities and focus less on consumers Jeremy Bentham - answer(19th century) Urged politicians to design policies tha...

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