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ARM 400: Risk in an Evolving World Exam Review |Questions and Verified Answers| 100% Correct| Grade A (Latest 2023/ 2024 Update When communicating a decision up the organization's chain of command, consulting with outside experts can help a risk management professional do which one of the following? A. Seek feedback from stakeholders B. Stay focused on the organization's objectives C. Define the organization's risk appetite D. Enhance stakeholders' confidence in the process - ...

ARM 400: RISK IN AN EVOLVING WORLD EXAM REVIEW |QUESTIONS AND VERIFIED ANSWERS| 100% CORRECT| GRADE A

Traditional Risk Management (TRM) - Answer- - Risks are evaluated in a "silo" approach - Losses are usually insurable, pure risks -focus on cost reduction rather than value creation -root cause analysis (RCA) approach ERM - Answer- Enterprise Risk Management Enterprise Risk Management (ERM) - Answer- a comprehensive risk management program that addresses the organization's pure, speculative, strategic, and operational risks Data Capture - Answer- Term for the various methods by wh...

ARM 400,Risk in an Evolving World Exam Prep |Guide with Questions and Verified Answers| 100% Correct| Grade A (Latest 2023/ 2024 Update) Q: tolerable uncertainty components Answer: reduce downside risk, earnings stability, anticipate and recognize emerging risks, business continuity Q: continuity of operations Answer: essential goal for all public entities Q: holistic risk management goals Answer: tolerable uncertainty, profitability and growth, legal and reg...

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ARM 400,Risk in an Evolving World Exam | Questions and Verified Answers| 100% Correct| Grade A (Latest 2023/ 2024 Update) Q: AMRM Insurance Company sells insurance in Virginia, North Carolina, South Carolina, and Georgia. The company has compiled a policyowner data base that can be used to send text messages when hurricanes approach. The company provides early warnings, storm updates from the National Weather Service, and hurricane safety measures. The company credits the system with reduced ...

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