ARM 401-5 HAZARD RISK UPDATED ACTUAL Questions and CORRECT
Answers
1. Real Property 1. Land
2. Buildings and other structures
2. Land two types: improved and unimproved
3. Unimproved includes undeveloped real estate such as woodland, farmland, and vacant lots
Land
value may lie in water, minerals, commercial attraction, plants, animals, location,
or other hard-to-value elements
4. Improved land real estate w/ man made alterations
5. Building permanent structure w/ walls and a roof
categorized by the type of construction and how well that construction w/stands
different hazards
6. Other structures include anything else that is built or under construction
considerations in property risk assessment include occupancy, exposure, haz-
ardous substances and heat-generating equipment
7. Occupancy # of people, their ages, physical conditions, and familiarity w/ the location
presence of machinery, vehicles, combustible materials, and other hazards
8. Exposure to weather, vandalism, and crime
9. Intangible Per- has no physical substance, hence is not able to be touched
sonal Property
10. Tangible Person- has physical substance, can be touched
al Property
11.
, Why are vehicles a. collision losses are different than other types of losses to personal property
licensed for use
on public roads AND
treated separate-
b. vehicle operation is the biggest source of liability loss for individuals and
ly for purposes of
businesses
risk assessment
and insurance?
12. Intangible Prop- includes patents, copyrights, trademarks, leases, and trade secrets
erty
RM and insurance inc. focused on protecting reputation
13. Two Classes of 1. Natural
Risk Sources 2. Human
14. Natural Risk involve events beyond human control
Sources
ex. fire, flood, disease, storms
frequency and severity of natural perils determined by nature
RM has little effect on reducing the likelihood of an event, but loss reduction
measures can control some of the consequences
15. Human Risk involve events dependent on the actions or inactions of individuals or small
Sources groups
theft, vandalism, negligence, incompetence, riot
frequency and severity controlled through responsible individual actions, societal
mores, and gvmt sanctions
16. Windstorm
, a storm that involves violent wind w/ little or no rain
greatest threat is to building damage and collapse
17. Windstorm a. design buildings and other structures to w/stand anticipated winds
Pre-loss disaster b. obtain wind-rated shutters and blinds for windows and other openings
recovery actions c. maintain roof and wall systems in good condition; provide support for outside
structures
d. secure outdoor materials and equip
18. Windstorm a. use spare construction materials to temporarily repair damage and to reduce
post-loss further exposure to the elements
disaster recovery
actions b. guard the premises to prevent looting and vandalism
19. Tornado a localized windstorm occurring over land and characterized by a funnel-shaped
cloud that extends toward the ground and rotates at speeds of up to 300 MPH
most structures not designed to w/stand
20. Tornado pre-loss a. build underground tornado shelters in areas subject to tornados
disaster recovery b. take shelter to prevent BI
actions
21. Tornado a. begin search and rescue
post-loss b. complete temporary reparis to avoid additional PD
recovery c. use caution near downed power lines
procedures d. start salvage procedures
22. Earthquake a destructive seismic event that occurs along a fault line (where tectonic plates of
the earth's surface meet)
23. a. choose an appropriate geographic location
b. build or buy earthquake-resistant buildings
Answers
1. Real Property 1. Land
2. Buildings and other structures
2. Land two types: improved and unimproved
3. Unimproved includes undeveloped real estate such as woodland, farmland, and vacant lots
Land
value may lie in water, minerals, commercial attraction, plants, animals, location,
or other hard-to-value elements
4. Improved land real estate w/ man made alterations
5. Building permanent structure w/ walls and a roof
categorized by the type of construction and how well that construction w/stands
different hazards
6. Other structures include anything else that is built or under construction
considerations in property risk assessment include occupancy, exposure, haz-
ardous substances and heat-generating equipment
7. Occupancy # of people, their ages, physical conditions, and familiarity w/ the location
presence of machinery, vehicles, combustible materials, and other hazards
8. Exposure to weather, vandalism, and crime
9. Intangible Per- has no physical substance, hence is not able to be touched
sonal Property
10. Tangible Person- has physical substance, can be touched
al Property
11.
, Why are vehicles a. collision losses are different than other types of losses to personal property
licensed for use
on public roads AND
treated separate-
b. vehicle operation is the biggest source of liability loss for individuals and
ly for purposes of
businesses
risk assessment
and insurance?
12. Intangible Prop- includes patents, copyrights, trademarks, leases, and trade secrets
erty
RM and insurance inc. focused on protecting reputation
13. Two Classes of 1. Natural
Risk Sources 2. Human
14. Natural Risk involve events beyond human control
Sources
ex. fire, flood, disease, storms
frequency and severity of natural perils determined by nature
RM has little effect on reducing the likelihood of an event, but loss reduction
measures can control some of the consequences
15. Human Risk involve events dependent on the actions or inactions of individuals or small
Sources groups
theft, vandalism, negligence, incompetence, riot
frequency and severity controlled through responsible individual actions, societal
mores, and gvmt sanctions
16. Windstorm
, a storm that involves violent wind w/ little or no rain
greatest threat is to building damage and collapse
17. Windstorm a. design buildings and other structures to w/stand anticipated winds
Pre-loss disaster b. obtain wind-rated shutters and blinds for windows and other openings
recovery actions c. maintain roof and wall systems in good condition; provide support for outside
structures
d. secure outdoor materials and equip
18. Windstorm a. use spare construction materials to temporarily repair damage and to reduce
post-loss further exposure to the elements
disaster recovery
actions b. guard the premises to prevent looting and vandalism
19. Tornado a localized windstorm occurring over land and characterized by a funnel-shaped
cloud that extends toward the ground and rotates at speeds of up to 300 MPH
most structures not designed to w/stand
20. Tornado pre-loss a. build underground tornado shelters in areas subject to tornados
disaster recovery b. take shelter to prevent BI
actions
21. Tornado a. begin search and rescue
post-loss b. complete temporary reparis to avoid additional PD
recovery c. use caution near downed power lines
procedures d. start salvage procedures
22. Earthquake a destructive seismic event that occurs along a fault line (where tectonic plates of
the earth's surface meet)
23. a. choose an appropriate geographic location
b. build or buy earthquake-resistant buildings
