Rmin 4000 test 1 brown - Study guides, Class notes & Summaries

RMIN 4000 Test 1 Brown UGA UPDATED Exam Questions and CORRECT Answers Exposures - Correct ANSWER- things of value (assets) that could be lost Perils - Correct ANSWER- things that cause injury or loss risk - Correct ANSWER- a calculated possibility of a negative outcome Frequency - Correct ANSWER- the number of losses (such as fire or theft) that occur within a specified time period. aka the probability of a loss Severity - Correct ANSWER- the dollar amount of a loss for a specific peril...

RMIN 4000 Test 1 Brown UGA Questions and Answers 2024

RMIN 4000 Test 1 Brown UGA Questions and Answers 100- Verified.

Pure Risk - A chance of loss or no loss, but no chance of gain. Insurance can be bought for this Exposures - things of value (assets) that could be lost Property Risk - a risk that can lead to destruction or theft and loss of personal or business property including money, vehicles, and buildings; 2 types (direct and indirect) Diversifiable risk - a risk that affects only individuals or small groups and not the entire economy. It can be eliminated/ reduced through diversification. the risks ...

RMIN 4000 Test 1 Brown UGA Study Guide 2024| VERIFIED COMPLETLY | GRADED A+

RMIN 4000 Test 1 Brown UGA Exam Questions and Answers | 100% Pass!! Exposures -Answer-things of value (assets) that could be lost Perils -Answer-things that cause injury or loss risk -Answer-a calculated possibility of a negative outcome Frequency -Answer-the number of losses (such as fire or theft) that occur within a specified time period. aka the probability of a loss Severity -Answer-the dollar amount of a loss for a specific peril (fire, theft, collision) aka How much does it cost w...

RMIN 4000 Test 1 Brown UGA.

Exposures - correct answer things of value (assets) that could be lost Perils - correct answer things that cause injury or loss risk - correct answer a calculated possibility of a negative outcome Frequency - correct answer the number of losses (such as fire or theft) that occur within a specified time period. aka the probability of a loss Severity - correct answer the dollar amount of a loss for a specific peril (fire, theft, collision) aka How much does it cost when the loss does o...

RMIN 4000 Test 1 Brown UGA Study Guide 2024 with complete solution

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