FIN 341 EXAM 1 COMPREHENSIVE STUDY
GUIDE 2026
◉ What are the steps in Risk Mgmt.
Answer: Identify, Measure, manage, finance, control
◉ What kind of Opportunities are available.
Answer: -50% workforce will retire in next 15 years
- 400,000 positions unfilled
- <25% under age 35
◉ How Big Data is transforming RM.
Answer: Traditional RM decisions enhanced through insights
derived from big data
- Capture
- Storage
- Data analystics: AI and machine learning
◉ Top 3 global risks in 2025.
Answer: Cyber incidents, business interruptions, natural
catastrophes
, ◉ Define Risk.
Answer: Uncertainty concerning the occurrence of a loss
◉ Loss Exposure.
Answer: any situation or circumstance in which a loss is possible,
regardless of whether a loss occurs
◉ Objective Risk.
Answer: the relative variation of actual loss from expected loss
◉ Subjective Risk.
Answer: uncertainty based on a person's mental condition or state
of mind
◉ Chance of Loss.
Answer: the probability that an event that causes a loss will occur
◉ Peril.
Answer: cause of loss
- Fire, Flood, Theft, earthquake
GUIDE 2026
◉ What are the steps in Risk Mgmt.
Answer: Identify, Measure, manage, finance, control
◉ What kind of Opportunities are available.
Answer: -50% workforce will retire in next 15 years
- 400,000 positions unfilled
- <25% under age 35
◉ How Big Data is transforming RM.
Answer: Traditional RM decisions enhanced through insights
derived from big data
- Capture
- Storage
- Data analystics: AI and machine learning
◉ Top 3 global risks in 2025.
Answer: Cyber incidents, business interruptions, natural
catastrophes
, ◉ Define Risk.
Answer: Uncertainty concerning the occurrence of a loss
◉ Loss Exposure.
Answer: any situation or circumstance in which a loss is possible,
regardless of whether a loss occurs
◉ Objective Risk.
Answer: the relative variation of actual loss from expected loss
◉ Subjective Risk.
Answer: uncertainty based on a person's mental condition or state
of mind
◉ Chance of Loss.
Answer: the probability that an event that causes a loss will occur
◉ Peril.
Answer: cause of loss
- Fire, Flood, Theft, earthquake
