FINA 4358 MODULE 1 QUIZ (FINA4358MODULE1QUIZ)

FINA 4358 MODULE 1 QUIZ Commercial Property Insurance Homework Questions Module 1 1. One of the steps in the “risk management process” is ‘analyzing exposures. What does this step entail? The ‘analyzing exposures’ step in the “risk management process” entails estimating the significance of possible losses identified in the ‘identifying loss exposure’ step. There are four dimensions of analyzing exposures: - Loss frequency: number of losses within a time period - Loss severity: the monetary value of a loss during a specific event - Total dollar losses: total dollar amount of losses for all events within a time frame - Timing: when losses are incurred and when loss payments are made Rank exposures. Risk is a constant issue. 2. One of the “Risk Management Techniques is “retention”. What