Rmi 2101 exam - Study guides, Class notes & Summaries

RMI 2101 Exam 1 Questions With Verified And Updated Answers Risk - answerUncertainty about future losses No uncertainty= no risk Probablilty of a loss - answer-Likelihood of a loss - Range from 0-1 or 0% to 100% Common Elements of pure risk and speculative risk - answer_Involve uncertainty Differences in Pure and Speculative risk - answer-Difference is in the outcomes or "possible future state of world" Pure Risk Possible Outcomes - answerLoss No loss Speculative Risk Outcomes - ans...

RMI 2101 Exam 2|Questions with 100% Correct Answers Rated A+

RMI 2101 Exam 2 Questions With Verified And Updated Answers What are risk transfers of the financing type? (6) - answerInvolves the transfer of risk through insurance or non-insurance techniques to shift the financial responsibility of a loss to another party. The activity or asset is still exposed to loss. Financial responsibility can be transfered back. Explain the insurance and non-insurance techniques of risk transfers and provide examples. (6) - answerInsurance: transfer financial re...

RMI 2101 Exam (Temple University) presents |Questions with 100% Correct Answers Rated A+

RMI 2101 Exam Questions With Verified And Updated Answers Handlers of RM before RM Dept. - answerFinance dept - small org risk manager - med org cro - large org who coined the term Risk Management? - answerProf. Wayne Snider of Temple University STEPS IN THE RM PROCESS - answer1. Identify the Exposure to Loss*** 2. Evaluate the Exposure to Loss 3. Identify Possible Alternatives 4. Select from Among the Alternatives 5. Implementation of the Chosen Option 6. Periodically Re-Evaluate the...

RMI 2101 Quiz 1 Exam Questions With Verified And Updated Answers Pure Risk - answer-A chance of loss or no loss, no chance of gain (fire, flood, death, sickness) Speculative Risk - answera chance of loss, no loss, or gain (gambling, buying stocks or homes) --BASIS FOR ENTERPRISE RISK MANAGEMENT Pure and Speculative Risk both involve - answeruncertainty Pure and Speculative Risk have different - answeroutcomes Static Risks - answerDoes not change much over time. EX) natural disasters, pe...

RMI 2101 Exam Questions With Verified And Updated Answers Issues of employer provided healthcare benefits - answerHigh cost of health care -High cost of inflation compared to overall rate of inflation -High premiums for employers -High costs for governments High % of uninsured or underinsured patients -Access problem -45 million uninsured pre Obama Care Indemnity Plans - answerOld School Plan Covers room cost of hospital, surgeon's fees, and follow-up visits Gaps in Indemnity Plans -...

RMI 2101 topic 1 Exam Questions With Verified And Updated Answers Pure Risk - answerA risk where there is a loss or no loss Speculative Risk - answerA risk where there is a loss, gain or neither Static Risk - answerRisk where it does not really change significantly over time (ex: nature disaster ) Dynamic Risk - answerA risk that is new, emerging risk (ex: terrorism, privacy rights) Source of Pure risk - answer1. Human Capital 2. Ownership of financial or physical asset 3.Liabilities P...

RMI 2101 Exam |Questions with 100% Correct Answers Rated A+