Enterprise Risk Management (RSK2601) – RMI 2101 Exam Bank 1 McCloskey Questions with Verified Answers – complete exam preparation set

ENTERPRISE RISK
MANAGEMENT (RSK2601)
RMI 2101 EXAM BANK 1
MCCLOSKEY QUESTIONS
WITH VERFIED ANSWERS
RSK2601




BIGGYPERFECT STUVIA
SMART STUDY

,ENTERPRISE RISK MANAGEMENT (RSK2601)
RMI 2101 EXAM BANK 1 MCCLOSKEY
QUESTIONS WITH VERFIED ANSWERS

, Risk Management ANSWER >> making decisions without knowing the outcome


Traditional Risk Management ANSWER >> the only things in the life that are certain
are taxes and death


Pure Risk ANSWER >> has two outcomes: 1) No Loss 2) Loss


no winning ex. fire, flood, sickness, death


-uncertainty


Sources of Pure Risk: Personal ANSWER >> -Human capital: personal pure risk


-ability to generate income


-subject to life and health exposures: injury, death


-loss in income


-medical expenses


-retirement/unemployment: reduction in income, medical expenses


Sources of Pure Risk: Property + Liability ANSWER >> -theft or damage