CPCU 500 - Managing Evolving Risks Questions And Answers Latest Top Score.

CPCU 500 - Managing Evolving Risks Questions And Answers Latest Top Score. Big Data - correct answer. Sets of data that are too large to be gathered and analyzed by traditional methods. Smart product - correct answer. An innovative item that uses sensors; wireless sensor networks; and data collection, transmission, and analysis to further enable the item to be faster, more useful, or otherwise improved. Internet of Things (IoT) - correct answer. A network of objects that transmit data to and from each other without human interaction. Cloud computing - correct answer. Information, technology, and storage services contractually provided from remote locations, through the internet or another network, without a direct server connection. Blockchain - correct answer. A distributed digital ledger that facilitates secure transactions without the need for a third party. Telematics - correct answer. The use of technological devices in vehicles with wireless communication and GPS tracking that transmit data to businesses or government agencies; some return information for the driver. Text mining - correct answer. Obtaining information through language recognition. Insurtech - correct answer. The use of emerging technologies in the insurance industry. Sensor - correct answer. A device that detects and measures stimuli in its environment. Preventive analytics - correct answer. Statistical and analytical techniques used to influence or prevent future events or behaviors. Transducer - correct answer. A device that converts one form of energy into another. Actuator - correct answer. A mechanical device that turns energy into motion or otherwise effectuates a change in position or rotation using a signal and an energy source. Accelerometer - correct answer. A device that measures acceleration, motion, and tilt. Ergonomics - correct answer. The science of designing work space and equipment based on the needs of the people who use the work space and equipment. Risk management framework - correct answer. A foundation for applying the risk management process throughout the organization. Risk criteria - correct answer. Information used as a basis for measuring the significance of a risk. Pure risk - correct answer. A chance of loss or no loss, but no chance of gain. Speculative risk - correct answer. A chance of loss, no loss, or gain. Credit risk - correct answer. The risk that customers or other creditors will fail to make promised payments as they come due. Subjective risk - correct answer. The perceived amount of risk based on an individual's or organization's opinion. Objective risk - correct answer. The measurable variation in uncertain outcomes based on facts and data. Diversifiable risk - correct answer. A risk that affects only some individuals, businesses, or small groups. Systemic risk - correct answer. The potential for a major disruption in the function of an entire market or financial system. Market risk - correct answer. Uncertainty about an investment's future value because of potential changes in the market for that type of investment. Liquidity risk - correct answer. The risk that an asset cannot be sold on short notice without incurring a loss. Risk appetite - correct answer. Amount of risk an organization is willing to take on in order to achieve an anticipated result or return. Value at risk (VaR) - correct answer. A technique to quantify financial risk by measuring the likelihood of losing more than a specific dollar amount over a specific period of time. Cost of risk - correct answer. The total cost incurred by an organization because of the possibility of accidental loss. Exposure - correct answer. Any condition that presents a possibility of gain or loss, whether or not an actual loss occurs. Volatility - correct answer. Frequent fluctuations, such as in the price of an asset. Likelihood - correct answer. A qualitative estimate of the certainty with which the outcome of a specific event can be predicted. Consequences - correct answer. The effects, positive or negative, of an occurrence. Time horizon - correct answer. Estimated duration. Correlation - correct answer. A relationship between variables. Risk control - correct answer. A conscious act or decision not to act that reduces the frequency and/or severity of losses or makes losses more predictable. Energy transfer theory - correct answer. An approach to accident causation that views accidents as energy that is released and that affects