RMI Chapter 4 Quiz Questions CPCU 500 #$%$%$^$@**#&^#*&&%(%%^&*() Page 1 #$%$%$^$@**#&^#*&&%(%%^&*() 1 of 14 #$%$%$^$@**#&^#*&&%(%%^&*()
A risk control technique that reduces the severity of a particular loss is
loss reduction
A risk control technique that reduces the frequency of a particular loss is
loss prevention
Which one of the following risk control techniques is generally used to reduce the frequency of a particular loss?
loss prevention
Which one of the following is a risk control technique that reduces the frequency of a particular loss?
loss prevention
Blithe Drug Manufacturing has developed a drug that cures obesity. However, the side effects are significant and
potentially fatal. Blithe decides not to manufacturing and sell the drug. This is an example of
avoidance
RMI Chapter 4 Quiz Questions CPCU 500 #$%$%$^$@**#&^#*&&%(%%^&*() Page 1 #$%$%$^$@**#&^#*&&%(%%^&*() 1 of 14 #$%$%$^$@**#&^#*&&%(%%^&*()
, RMI Chapter 4 Quiz Questions CPCU 500 #$%$%$^$@**#&^#*&&%(%%^&*() Page 2 #$%$%$^$@**#&^#*&&%(%%^&*() 2 of 14 #$%$%$^$@**#&^#*&&%(%%^&*()
Emerald Industries has just invested a large sum in a new, highly-sophisticated computer equipment and building
renovations. Emerald installed state-of-the-art smoke detection devices throughout the facility. Emerald's state-of-
the-art smoke detection devices are an example
loss reduction
A local shopping center reduced its net income loss after a fire by incurring additional expenses to shorten the
time it takes to repair the damage and reopen the shopping center. Bob, the owner of the center. Bob, the owner
of the center, hired a contractor to work around the clock until repairs were completed. This reduced Bob's net
income loss because he was able to repair the shops sooner. Bob's action is an example of which one of the
following risk management techniques?
loss reduction
Which one of the following is a major benefit that smart insurance contracts can provide to insurance customers?
Smart contracts can dramatically increase the speed of loss payments
Advancements in machine learning and artificial intelligence (AI) have helped insurers do all of the following,
except:
completely prevent customer's risk
RMI Chapter 4 Quiz Questions CPCU 500 #$%$%$^$@**#&^#*&&%(%%^&*() Page 2 #$%$%$^$@**#&^#*&&%(%%^&*() 2 of 14 #$%$%$^$@**#&^#*&&%(%%^&*()
A risk control technique that reduces the severity of a particular loss is
loss reduction
A risk control technique that reduces the frequency of a particular loss is
loss prevention
Which one of the following risk control techniques is generally used to reduce the frequency of a particular loss?
loss prevention
Which one of the following is a risk control technique that reduces the frequency of a particular loss?
loss prevention
Blithe Drug Manufacturing has developed a drug that cures obesity. However, the side effects are significant and
potentially fatal. Blithe decides not to manufacturing and sell the drug. This is an example of
avoidance
RMI Chapter 4 Quiz Questions CPCU 500 #$%$%$^$@**#&^#*&&%(%%^&*() Page 1 #$%$%$^$@**#&^#*&&%(%%^&*() 1 of 14 #$%$%$^$@**#&^#*&&%(%%^&*()
, RMI Chapter 4 Quiz Questions CPCU 500 #$%$%$^$@**#&^#*&&%(%%^&*() Page 2 #$%$%$^$@**#&^#*&&%(%%^&*() 2 of 14 #$%$%$^$@**#&^#*&&%(%%^&*()
Emerald Industries has just invested a large sum in a new, highly-sophisticated computer equipment and building
renovations. Emerald installed state-of-the-art smoke detection devices throughout the facility. Emerald's state-of-
the-art smoke detection devices are an example
loss reduction
A local shopping center reduced its net income loss after a fire by incurring additional expenses to shorten the
time it takes to repair the damage and reopen the shopping center. Bob, the owner of the center. Bob, the owner
of the center, hired a contractor to work around the clock until repairs were completed. This reduced Bob's net
income loss because he was able to repair the shops sooner. Bob's action is an example of which one of the
following risk management techniques?
loss reduction
Which one of the following is a major benefit that smart insurance contracts can provide to insurance customers?
Smart contracts can dramatically increase the speed of loss payments
Advancements in machine learning and artificial intelligence (AI) have helped insurers do all of the following,
except:
completely prevent customer's risk
RMI Chapter 4 Quiz Questions CPCU 500 #$%$%$^$@**#&^#*&&%(%%^&*() Page 2 #$%$%$^$@**#&^#*&&%(%%^&*() 2 of 14 #$%$%$^$@**#&^#*&&%(%%^&*()
