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Principles Of Risk Management And Insurance Random Assessment Test 2025

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Principles Of Risk Management And Insurance Random Assessment Test 2025 risk management a process that identifies loss exposures faced by an organization and selects the most appropriate techniques for treating such exposures loss exposure any situation or circumstance in which a loss is possible, regardless of whether a loss occurs pre-loss objectives economy; reduction of anxiety; meeting legal obligations

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Principles Of Risk Management And Insurance

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Principles Of Risk Management And Insurance

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Institution: Principles Of Risk Management And Insurance
Course: Principles Of Risk Management And Insurance

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Uploaded on: January 16, 2025
Number of pages: 10
Written in: 2024/2025
Type: Exam (elaborations)
Contains: Questions & answers

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principles of risk management and insurance random
risk management a process that identifies loss exp
loss exposure any situation or circumstance in whi
pre loss objectives economy reduction of anxiet

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Principles Of Risk Management And
Insurance Random Assessment Test
2025

riskamanagementa-
aANSWERaaaprocessathataidentifiesalossaexposuresafacedabyaanaorganizationaandaselectsatheamostaapp
ropriateatechniquesaforatreatingasuchaexposures

lossaexposurea-
aANSWERaanyasituationaoracircumstanceainawhichaaalossaisapossible,aregardlessaofawhetheraaalossaocc
urs

pre-lossaobjectivesa-aANSWERaeconomy;areductionaofaanxiety;ameetingalegalaobligations

economya-aANSWERatheafirmashouldaprepareaforapotentialalossesainatheamostaeconomicalaway

analyze:acostaofasafetyaprograms,ainsuranceapremiumsapaid,acostsaassociatedawithatheadifferentatechn
iquesaforahandlingalosses

reductionaofaanxietya-
aANSWERacertainalossaexposuresacanacauseagreateraworryaandafearaforatheariskamanageraandakeyaexe
cutives

meetaanyalegalaobligationsa-aANSWERamustaseeathatalegalaobligationsaareamet

postalossaobjectivesa-aANSWERa-Survivalaofatheafirm

-Continueaoperating

, -Stabilityaofaearnings

-Continuedagrowthaofatheafirm

-Minimizeatheaeffectsathataaalossawillahaveaonaotherapersonsaandaonasociety

survivalaofatheafirma-aANSWERamostaimportantapost-lossaobjective

continueaoperatinga-aANSWERatheaabilityatoaoperateaafteraaaloss

stabilityaofaearningsa-aANSWERaearningsapershareacanabeamaintainedaifatheafirmacontinuesatoaoperate

continuedagrowthaofatheafirma-
aANSWERaaacompanyacanagrowabyadevelopinganewaproductsaandamarketsaorabyaacquiringaoramerging
awithaotheracompanies

minimizeatheaeffectsathataaalossawillahaveaonaotherapersonsaorasocietya-
aANSWERaaaseverealossacanaadverselyaaffectaemployees,asuppliers,acustomers,ainvestors,acreditors,aan
datheacommunityainageneral

firstastepainatheariskamanagementaprocessa-aANSWERaidentifyaallamajoraandaminoralossaexposures

Sourcesaofainformationatoaidentifyalossaexposuresa-aANSWERa-
Riskaanalysisaquestionnairesaandachecklists

-Physicalainspection

-Flowcharts

-Financialastatements

-Historicalalossadata

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