Rmin 4000 uga test 1 2024 - Study guides, Class notes & Summaries
Looking for the best study guides, study notes and summaries about Rmin 4000 uga test 1 2024? On this page you'll find 43 study documents about Rmin 4000 uga test 1 2024.
Page 4 out of 43 results
Sort by
-
RMIN 4000 Test 1 Brown UGA Study Guide 2024 with complete solution
- Exam (elaborations) • 8 pages • 2024
-
- $12.49
- + learn more
RMIN 4000 Test 1 Brown UGA Study 
Guide 2024 with complete solution 
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, ...
-
RMIN 4000 UGA Test 1. Chapters 1-3 Exam Questions and Answers 2024
- Exam (elaborations) • 48 pages • 2024
- Available in package deal
-
- $14.49
- + learn more
RMIN 4000 UGA Test 1. Chapters 1-3 
Exam Questions and Answers 2024 
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...
-
RMIN 4000 UGA Test 1. Chapters 1-3 Exam Questions and Answers 2024
- Exam (elaborations) • 48 pages • 2024
- Available in package deal
-
- $14.49
- + learn more
RMIN 4000 UGA Test 1. Chapters 1-3 
Exam Questions and Answers 2024 
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...
-
RMIN 4000 UGA Test 3| Questions and Answers 100% Accurate!!
- Exam (elaborations) • 17 pages • 2024
-
Available in package deal
-
- $12.99
- + learn more
Auto Insurance - ANSWER--6 or 12 month policy 
-premiums usually paid monthly or quarterly 
 
5 general types of auto coverage - ANSWER-1. liability 
2. damage 
3. uninsured motorist 
4. medical payments 
5. convenience coverage 
 
Personal Auto Policy (PAP) - ANSWER---3rd party coverages (payments to someone else): 
•Part A: Liability Coverage (required by state) 
--1st party coverages (payments to you): 
•Part B: Medical Payments Coverage 
•Part C: Uninsured Motorists Coverage 
•Part D...
-
RMIN 4000 UGA Test 1 Questions and Answers (GRADED A+)
- Exam (elaborations) • 11 pages • 2024
-
Available in package deal
-
- $11.99
- + learn more
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 manufacturing plant 
 
objective risk (degree of risk) - ANSWER-...
Too much month left at the end of the money?
-
RMIN 4000 UGA Test 1. Chapters 1-3 Exam Questions and Answers 2024
- Exam (elaborations) • 48 pages • 2024
-
- $13.49
- + learn more
RMIN 4000 UGA Test 1. Chapters 1-3 
Exam Questions and Answers 2024 
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...
-
RMIN 4000 UGA Test 1 Questions and Answers 100% Correct!!
- Exam (elaborations) • 10 pages • 2024
-
Available in package deal
-
- $11.99
- + learn more
What 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 = total losses ($) / number of losses) 
 
What is a p...
-
RMIN 4000 Test 1 Brown UGA with Complete Solutions!!
- Exam (elaborations) • 8 pages • 2024
-
Available in package deal
-
- $11.59
- + learn more
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 when the loss does occur? 
 
Hazard - ANSWER-a condition tha...
-
RMIN 4000 Brown UGA Test 1 with Complete Solutions
- Exam (elaborations) • 8 pages • 2024
-
Available in package deal
-
- $10.49
- + learn more
Frequency - ANSWER-How often does a loss occur? 
The number of losses (such as fire, theft, collision) that occur within a specified time period 
probability of a loss 
 
severity - ANSWER-How much does it cost when a loss does occur? 
The dollar amount of loss for a specific peril (fire, theft, collision) 
 
Peril - ANSWER-cause of a loss 
 
Ex. fire, tornado, collision, burglary 
 
hazard - ANSWER-condition that creates or increases the frequency and/or severity of a loss 
 
physical hazard - ...
-
RMIN 4000 Test 1 Brown UGA Study Guide 2024 with complete solution
- Exam (elaborations) • 7 pages • 2024
-
- $14.49
- + learn more
RMIN 4000 Test 1 Brown UGA Study Guide 2024 with complete solution 
 
 
Exposures 
things of value (assets) that could be lost 
Perils 
things that cause injury or loss 
risk 
a calculated possibility of a negative outcome 
Frequency 
the number of losses (such as fire or theft) that occur within a specified time period. aka the probability of a loss 
Severity 
the dollar amount of a loss for a specific peril (fire, theft, collision) aka How much does it cost when the loss does occur? 
Hazard 
a...
$6.50 for your textbook summary multiplied by 100 fellow students... Do the math: that's a lot of money! Don't be a thief of your own wallet and start uploading yours now. Discover all about earning on Stuvia