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Risk Management and Insurance

Business

Quiz 1 :

Risk and Its Treatment

Quiz 1 :

Risk and Its Treatment

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An individual's personal estimate of the chance of loss is a(n)
Free
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Answer:

C

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Traditionally,risk has been defined as
Free
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Answer:

C

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Faking an accident to collect insurance proceeds is an example of
Free
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Answer:

C

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Katelyn was just named Risk Manager of ABC Company.She has decided to create a risk management program which considers all of the risks faced by ABC-pure,speculative,operational,and strategic-in a single risk management program.Such a program is called a(n)
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Some characteristics of the judicial system and regulatory environment increase the frequency and severity of loss.This hazard is called
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Carelessness or indifference to a loss is an example of
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The premature death of an individual is an example of a
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Uncertainty based on a person's mental condition or state of mind is known as
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Dense fog that increases the chance of an automobile accident is an example of a
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Which of the following statements about financial risk is (are)true? I.Enterprise risk does not include financial risk. II.Financial risk is easily addressed through the purchase of insurance.
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A pure risk is defined as a situation in which there is
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A peril is
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A name that encompasses all of the major risks faced by a business firm is
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One of the speculative financial risks considered in an enterprise risk management program is the risk of loss because of adverse changes in commodity prices,interest rates,foreign exchange rates,and the value of money.This risk is called
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An insurance company estimates its objective risk for 10,000 exposures to be 10 percent.Assuming the probability of loss remains the same,what would happen to the objective risk if the number of exposures were to increase to 1 million?
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Objective risk is defined as
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The long-run relative frequency of an event based on the assumption of an infinite number of observations with no change in the underlying conditions is called
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Which of the following statements about a priori probabilities is correct?
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An earthquake is an example of a(n)
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Taylor Tobacco Company is concerned that the company may be held liable in a court of law and ordered to pay a large damage award to a smoker harmed by the company's cigarettes.The characteristics of the judicial system that increase the frequency and severity of loss are known as
Multiple Choice
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