RMIN4000 FINAL EXAM BROWN UNIVERSITY QUESTIONS AND ANSWERS 100% SOLVED

RMIN4000 FINAL EXAM BROWN UNIVERSITY QUESTIONS AND ANSWERS 100% SOLVED Lannister Insurance Company insures 200,000 vehicles. In 2019, they paid a total of $136,000,000 in collision losses to the owners of 16,000 of those vehicles. What was Lannister's collision loss frequency in 2019? 0.08 (16k/200k) Lannister Insurance Company insures 200,000 vehicles. In 2019, they paid a total of $136,000,000 in collision losses to the owners of 16,000 of those vehicles. What was Lannister's collision loss severity in 2019? 8500 (136M/16K) Michael Scott owns a condominium in Scranton, PA. A fire breaks out when his girlfriend, Jan, is dancing and knocks over a candle. The fire damages the condo and Michael's most prized possession - his plasma TV. The damage to Michael's plasma TV is considered a(n): direct loss What is the most important step in the risk management process? Step 1: identify loss exposures I have a high deductible ($2,200) in my health insurance plan. The high deductible is an example of which type of risk management technique? retention Insurance is the most appropriate risk management technique for which of the following types of loss exposures? high severity, low frequency