Traditional rm vs erm Study guides, Class notes & Summaries

Personal Financial Planning Pyramid - Answer-bottom to top: 1.Risk mgmt protection (life/health insurance), 2.Wealth accumulation (savings & accumulation, growth & diversification, speculation investments) 3. Wealth distribution Traditional Risk Management Process (TRM) of an Organization - Answer-1. Identify Risk 2. Evaluate Risk 3. Select a Risk Management Technique to treat each risk 4. Implement and Review Risk Management (RM) Techniques to treat risk - Answer-Risk avoidance Loss Con...

Personal Financial Planning Pyramid - bottom to top: 1.Risk mgmt protection (life/health insurance), 2.Wealth accumulation (savings & accumulation, growth & diversification, speculation investments) 3. Wealth distribution Traditional Risk Management Process (TRM) of an Organization - 1. Identify Risk 2. Evaluate Risk 3. Select a Risk Management Technique to treat each risk 4. Implement and Review Risk Management (RM) Techniques to treat risk - Risk avoidance Loss Control Risk Retension ...

traditional RM vs ERM - traditional - pure risk; manage safety, buy ins, control financial recovery ERM - pure and speculative risk; corporate level; all types of risks ***max organization's value individuals & families vs organizations - individuals & families - informal series of efforts; part of financial planning process; don't follow process organizations - in smaller, task carried out by owner or senior manager; in larger, part of formalized program with department identify loss ex...

AINS 21 Exam Segment C With 100% Correct And Verified Answers