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Fsu Rmi 3011 Exam 1 Questions And Correct Detailed Answers (Verified Answers) Already Graded A+

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Cost Benefit Analysis AnsIncrease spending one element reduce spending on another element - consider direct and indirect - Spend until cost outweighs benefit - time value of money Indirect Loss AnsFinancial loss arising from loss of use of property Property Risk Ans- Direct loss - Indirect loss Types of property Ans-Real property ( Houses) -Personal Property (Car) -Intangible property (Patents License) Personal Risk (Life/health risk) Ans- Premature Death - Insufficient Funds during retirement

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FSU RMI 3011 EXAM 1 QUESTIONS AND CORRECT
DETAILED ANSWERS (VERIFIED ANSWERS) ALREADY
GRADED A+
Cost Benefit Analysis Ans✓✓✓Increase spending one element reduce
spending on another element


- consider direct and indirect
- Spend until cost outweighs benefit
- time value of money


Indirect Loss Ans✓✓✓Financial loss arising from loss of use of
property


Property Risk Ans✓✓✓- Direct loss
- Indirect loss


Types of property Ans✓✓✓-Real property ( Houses)
-Personal Property (Car)
-Intangible property (Patents License)


Personal Risk (Life/health risk) Ans✓✓✓- Premature Death
- Insufficient Funds during retirement
- Poor Health
- Unemployment

, Enterprise Risk Ans✓✓✓A term that encompasses all major risk faced
by business firms
- Operational Risk
- Financial Risk
- Strategic Risk
- Reputational Risk


Risk Ans✓✓✓Traditional Def: Uncertainty


Better Def: Uncertainty about chance, timing or amount of loss.


- Risk of _______ Death
- Risk of house fire
- RIsk of car Accident
- Risk of poor health


Risk has known Probablities


Uncertainty Ans✓✓✓Knightian Def: not susceptible to measurement


Uncertainty = Ambiguity

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