Rmin 4000 uga test 1 - Study guides, Class notes & Summaries
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RMIN 4000 uga test 1 questions and answers 2024
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RMIN 4000 uga test 1|102 Questions And Answers
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RMIN 4000 UGA Test 1 Questions and Answers | Latest Update | 2024/2025 | Already Passed
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RMIN 4000 UGA Test 1 Questions and 
Answers | Latest Update | 2024/2025 | 
 
Already Passed 
 
What are the primary functions of risk management in an organization? 
 The primary functions include identifying, assessing, and mitigating risks to protect assets 
and ensure business continuity. 
 
How does risk assessment contribute to effective risk management? 
 Risk assessment identifies potential risks and evaluates their impact, allowing for the 
development of strategies to manage and minimiz...
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RMIN 4000 UGA test 1 Questions and Answers 2024.
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RMIN 4000 UGA test 1 Questions and Answers 2024.
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RMIN 4000 UGA test 1|111 Answered Questions A+ Graded
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RMIN 4000 UGA test 1|111 Answered Questions A+ Graded
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RMIN 4000 UGA test 1 Questions and Answers 2024
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RMIN 4000 UGA test 1
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RMIN 4000 UGA Test 1 Questions and Answers (Scored A+)
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RMIN 4000 UGA Test 1 Questions and Answers (Scored A+) 
 
types of risk - ANSWER--pure risk 
-speculative risk 
-diversifiable risk 
-nondiversifiable risk 
-enterprise risk 
-systemic risk 
 
risk - ANSWER-uncertainty concerning the occurrence of a loss 
 
uncertainty - ANSWER-probabilities cannot be estimated 
 
loss exposure - ANSWER-any situation or circumstance in which a loss is possible, regardless of whether a loss actually occurs 
example: earthquake or flood causing damage to a manufa...
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RMIN 4000 UGA Test 1. Chapters 1-3 Questions& Answers 100% Accurate!
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1) Traditionally, risk has been defined as 
A) any situation in which the probability of loss is one. 
B) any situation in which the probability of loss is zero. 
C) uncertainty concerning the occurrence of loss. 
D) the probability of a loss occurring. - ANSWER-C 
 
2) Objective risk is defined as 
A) the probability of loss. 
B) the relative variation of actual loss from expected loss. 
C) uncertainty based on a person's mental condition or state of mind. 
D) the cause of loss. - ANSWER-B 
 
...
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RMIN 4000 UGA Test 1 Questions and Answers 100% Verified!
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RMIN 4000 UGA Test 1 Questions and Answers 100% VeWhat is risk? - ANSWER-a calculated possibility of a negative outcome 
 
What is calculated possibility? - ANSWER-a probabilistic outcome that is known or estimated (ranges from 0% to 100%) 
 
What is a negative outcome? - ANSWER-a loss that must be quantifiable 
 
What is frequency? - ANSWER-how often a loss occurs (frequency= number of losses / number of exposures) 
 
What is severity? - ANSWER-How much a loss costs when it occurs (severity = t...
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RMIN 4000 UGA test 1 Questions and Answers.
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RMIN 4000 UGA test 1 Questions and Answers.
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