Rmin 4000 brown - Study guides, Class notes & Summaries

RMIN 4000 FINAL EXAM BROWN UNIVERSITY ACTUAL QUESTIONS AND ANSWERS | VERIFIED COMPLETLY 100% | GRADED A+

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RMIN 4000 Test 3 Brown UPDATED ACTUAL Exam Questions and CORRECT Answers Principal of Indemnity - CORRECT ANSWER- insurer pays no more than actual amount of the loss; insurer should not profit from the loss Replacement cost - CORRECT ANSWER- the cost to replace an inventory item in its identical form (similar workmanship and quality) Actual Cash Value - CORRECT ANSWER- replacement cost - depreciation

RMIN 4000 Test 1 Brown UGA UPDATED ACTUAL 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

RMIN 4000 Test 3 Brown Questions with verified correct answers - complete solution 2024.

RMIN 4000 Exam 1 Brown Latest Update Graded A+ Textbook definition of RISK Uncertainty concerning the occurrence of a loss Better definition of RISK A calculated possibility of a negative outcome Calculated Possibility 0 = Impossible event (NO RISK) 0.5 = Highest Risk (Most Uncertainty) 1 = 100% Certain Event (NO RISK Negative Outcome Loss Losses must be __________? Quantifiable Pure Risk States Loss or No Loss Examples of Pure Risks Fire, Cancer, Dog bites a ...

RMIN 4000 FINAL EXAM BROWN UNIVERSITY ACTUAL QUESTIONS AND ANSWERS 100% CORRECT

RMIN 4000 Test 2 - Brown Questions with verified correct answers - complete solution 2024

RMIN 4000 Test 1 Brown UGA With Complete Solutions Latest Update

RMIN 4000 Test 1 Brown UGA