CISR RISK MANAGEMENT EXAM ACTUAL EXAM
150 QUESTIOS AND CORECT DETAILED
ANSWERS
Terms in this set (132)
1. The potential for several exposure
buildings to be damaged by
heavy winds within the
geographical area
nicknamed "Tornado Alley"
is an example of a(n)
An "accident" that occurs occurrence
over an extended period of
time is called a(n) _____
An accident with the occurrence
limitation of time removed;
an "accident" extended over
a period of time rather than
a single, observable event
The acquisition of funds at risk financing
the most favorable or
optimal cost to pay losses is
called
An action intended to prevention
interrupt a sequence of
events that lead to loss is
called
, An action intended to segregation
isolate an exposure from
other exposures, perils, or
hazards is called
After there are several avoidance
reported cases of babies
swallowing ornaments
decorating a crib mobile,
the manufacturer ends
production of the mobile.
A(n) ____ agreement is an hold harmless
arrangement whereby one
party assumes the liability
inherent in a situation,
thereby relieving another
party of that liability
A(n) _____ analysis measures cost-benefit
total anticipated benefits
after costs are subtracted
A(n) ____ clause is a pre- limit of liability
event limitation of the
amount, type, or method of
calculation of damages
available by one or both
parties to an agreement
A(n) ____ is a factor that hazard
increases the likelihood that
a peril will occur.
A(n) _____ is always an Accident
unexpected and
unintentional event that
tends to result in damage or
injury.
150 QUESTIOS AND CORECT DETAILED
ANSWERS
Terms in this set (132)
1. The potential for several exposure
buildings to be damaged by
heavy winds within the
geographical area
nicknamed "Tornado Alley"
is an example of a(n)
An "accident" that occurs occurrence
over an extended period of
time is called a(n) _____
An accident with the occurrence
limitation of time removed;
an "accident" extended over
a period of time rather than
a single, observable event
The acquisition of funds at risk financing
the most favorable or
optimal cost to pay losses is
called
An action intended to prevention
interrupt a sequence of
events that lead to loss is
called
, An action intended to segregation
isolate an exposure from
other exposures, perils, or
hazards is called
After there are several avoidance
reported cases of babies
swallowing ornaments
decorating a crib mobile,
the manufacturer ends
production of the mobile.
A(n) ____ agreement is an hold harmless
arrangement whereby one
party assumes the liability
inherent in a situation,
thereby relieving another
party of that liability
A(n) _____ analysis measures cost-benefit
total anticipated benefits
after costs are subtracted
A(n) ____ clause is a pre- limit of liability
event limitation of the
amount, type, or method of
calculation of damages
available by one or both
parties to an agreement
A(n) ____ is a factor that hazard
increases the likelihood that
a peril will occur.
A(n) _____ is always an Accident
unexpected and
unintentional event that
tends to result in damage or
injury.
