AIC 300 CLAIM IN AN EVOLVING WORLD
TEST BANK QUESTIONS WITH VERIFIED
ANSWERS FULL REVIEW
●● Smart Product
Answer: An innovative item that uses sensors' wireless sensor networks;
and date collection, transmission and analysis to further enable the item
to be faster, more useful and otherwise improved.
●● Internet of Things (IoT)
Answer: A network of objects that transmit data to and from each other
without human interaction
●● Cloud Computing
Answer: Information, technology, and storage services contractually
provided from remote locations, through the internet or another network,
without a direct server connection.
●● Blockchain
Answer: A distributed digital ledger that facilitates secure transaction
without the need of the third party
●● Telematics
,Answer: The use of technological devices in vehicles with wireless
communication and GPS tracking that transmits data to a business or
government agency; some return info to the driver.
●● Text Mining
Answer: Obtaining information through language recognition
●● Risk Appetite
Answer: Amount of rick an organization is willing to take on in order to
achieve an anticipated result or return
●● Value at Risk (VaR)
Answer: A technique to quantify financial risk by measuring the
likelihood of losing more than a specific dollar amount over a specific
period of time
●● Cost of Risk
Answer: The total cost incurred by an organization because of the
possibility of accidental loss
●● Exposure
Answer: Any condition that presents a possibility of gain or loss,
whether or not an actual loss occurs
,●● Volatility
Answer: Frequent fluctuations, such as in the price of an asset
●● Likelihood
Answer: A qualitative estimate of the certainty with which the outcome
of a specific event can be predicted
●● Consequences
Answer: The effects, positive or negative, of an occurrence
●● Time Hosizon
Answer: Estimated duration
●● Correlation
Answer: A relationship between variable
●● Pure Risk
Answer: A chance of loss or no loss, but no chance of gain
●● Speculative Risk
Answer: A chance of loss, no loss or gain
, ●● Credit Risk
Answer: The risk that customers or other creditors will fail to make
promised payments as they come due
●● Subjective Risk
Answer: The perceived amount of risk based on an individual's or
organizations opinion
●● Objective Risk
Answer: The measurable variation in uncertain outcomes based on facts
and data
●● Diversifiable Risk
Answer: A risk that affects only some individuals, businesses or small
groups
●● Systemic Risk
Answer: The potential for a major disruption in the function of an entire
market or financial system
●● Market Risk
Answer: Uncertainty about an investment's future value because of
potential chances in the market for that type of investment
TEST BANK QUESTIONS WITH VERIFIED
ANSWERS FULL REVIEW
●● Smart Product
Answer: An innovative item that uses sensors' wireless sensor networks;
and date collection, transmission and analysis to further enable the item
to be faster, more useful and otherwise improved.
●● Internet of Things (IoT)
Answer: A network of objects that transmit data to and from each other
without human interaction
●● Cloud Computing
Answer: Information, technology, and storage services contractually
provided from remote locations, through the internet or another network,
without a direct server connection.
●● Blockchain
Answer: A distributed digital ledger that facilitates secure transaction
without the need of the third party
●● Telematics
,Answer: The use of technological devices in vehicles with wireless
communication and GPS tracking that transmits data to a business or
government agency; some return info to the driver.
●● Text Mining
Answer: Obtaining information through language recognition
●● Risk Appetite
Answer: Amount of rick an organization is willing to take on in order to
achieve an anticipated result or return
●● Value at Risk (VaR)
Answer: A technique to quantify financial risk by measuring the
likelihood of losing more than a specific dollar amount over a specific
period of time
●● Cost of Risk
Answer: The total cost incurred by an organization because of the
possibility of accidental loss
●● Exposure
Answer: Any condition that presents a possibility of gain or loss,
whether or not an actual loss occurs
,●● Volatility
Answer: Frequent fluctuations, such as in the price of an asset
●● Likelihood
Answer: A qualitative estimate of the certainty with which the outcome
of a specific event can be predicted
●● Consequences
Answer: The effects, positive or negative, of an occurrence
●● Time Hosizon
Answer: Estimated duration
●● Correlation
Answer: A relationship between variable
●● Pure Risk
Answer: A chance of loss or no loss, but no chance of gain
●● Speculative Risk
Answer: A chance of loss, no loss or gain
, ●● Credit Risk
Answer: The risk that customers or other creditors will fail to make
promised payments as they come due
●● Subjective Risk
Answer: The perceived amount of risk based on an individual's or
organizations opinion
●● Objective Risk
Answer: The measurable variation in uncertain outcomes based on facts
and data
●● Diversifiable Risk
Answer: A risk that affects only some individuals, businesses or small
groups
●● Systemic Risk
Answer: The potential for a major disruption in the function of an entire
market or financial system
●● Market Risk
Answer: Uncertainty about an investment's future value because of
potential chances in the market for that type of investment
