©THEBRIGHT EXAM SOLUTIONS
11/05/2024 12:06 PM
CPCU 500 Practice Exam - assignment 1
Questions With Correct Answers
The risk of increased competetitio falls into the category of which quadrant of risk - answer✔Strategic
Risk
Failing to respond to changing customer demand and preferences in the design could drop the market
share. Which quadrants of risk is this? - answer✔Strategic risk, arise from trends in the economy and
society
If car is stolen and the tracking device can be used to recover the car more quickly. Which RM technique
is this? - answer✔Loss reduction
How traditional RM works - answer✔Silo apprach
Cost of risk of opening a new facility? - answer✔Safety System upgrades
insurance prems
retained losses
RM budget
Which one of the following statements is true regarding risk management efforts on the part of
individuals, organizations, and society in general - answer✔Risk management makes those who own or
run an organization more willing to undertake risky activities.
Tolerable Uncertainty - answer✔aligning risks with the organization's risk appetite
An organization must meet the standard of care that it owes to others in order to ensure that -
answer✔Legal obligations are satisfied.
Which one of the following is essential to an effective risk management program? - answer✔Support of
the organization's senior management
11/05/2024 12:06 PM
CPCU 500 Practice Exam - assignment 1
Questions With Correct Answers
The risk of increased competetitio falls into the category of which quadrant of risk - answer✔Strategic
Risk
Failing to respond to changing customer demand and preferences in the design could drop the market
share. Which quadrants of risk is this? - answer✔Strategic risk, arise from trends in the economy and
society
If car is stolen and the tracking device can be used to recover the car more quickly. Which RM technique
is this? - answer✔Loss reduction
How traditional RM works - answer✔Silo apprach
Cost of risk of opening a new facility? - answer✔Safety System upgrades
insurance prems
retained losses
RM budget
Which one of the following statements is true regarding risk management efforts on the part of
individuals, organizations, and society in general - answer✔Risk management makes those who own or
run an organization more willing to undertake risky activities.
Tolerable Uncertainty - answer✔aligning risks with the organization's risk appetite
An organization must meet the standard of care that it owes to others in order to ensure that -
answer✔Legal obligations are satisfied.
Which one of the following is essential to an effective risk management program? - answer✔Support of
the organization's senior management
