FSU RMI 3011 EXAM 1 questions and answers A+
graded passed
1. Cost
Increase spending one element reduce spending on another element
Benefit
Analysis
-consider direct and indirect
-Spend until cost outweighs benefit
-time value of money
2. Indirect Loss Financial loss arising from loss of use of property
3. Property Risk - Direct loss
-Indirect loss
4. Types of property -Real property ( Houses)
-Personal Property (Car)
-Intangible property (Patents License)
5. Personal Risk -Premature Death
(Life/health
-Insuflcient Funds during retirement
risk)
-Poor Health
-Unemployment
6. Enterprise Risk A term that encompasses all major risk faced by business firms
-Operational Risk
-Financial Risk
-Strategic Risk
-Reputational Risk
7. Risk Traditional Def: Uncertainty
Better Def: Uncertainty about chance, timing or amount of loss.
-Risk of Death
-Risk of house fire
1/
11
, FSU RMI 3011 EXAM 1 questions and answers A+
graded passed
-RIsk of car Accident
2/
11
graded passed
1. Cost
Increase spending one element reduce spending on another element
Benefit
Analysis
-consider direct and indirect
-Spend until cost outweighs benefit
-time value of money
2. Indirect Loss Financial loss arising from loss of use of property
3. Property Risk - Direct loss
-Indirect loss
4. Types of property -Real property ( Houses)
-Personal Property (Car)
-Intangible property (Patents License)
5. Personal Risk -Premature Death
(Life/health
-Insuflcient Funds during retirement
risk)
-Poor Health
-Unemployment
6. Enterprise Risk A term that encompasses all major risk faced by business firms
-Operational Risk
-Financial Risk
-Strategic Risk
-Reputational Risk
7. Risk Traditional Def: Uncertainty
Better Def: Uncertainty about chance, timing or amount of loss.
-Risk of Death
-Risk of house fire
1/
11
, FSU RMI 3011 EXAM 1 questions and answers A+
graded passed
-RIsk of car Accident
2/
11
