AIDA 182 FINAL EXAM NEWEST ACTUAL EXAM
COMPLETE 200 QUESTIONS AND CORRECT
DETAILED ANSWERS (VERIFIED ANSWERS)
|ALREADY GRADED A+
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AIDA 182 FINAL EXAM
"And" connecting events in rectangles C, D, and E to the
event in rectangle A indicates what? -
✔✔ANSW✔✔..Preventing the event in rectangle C, D, or
E from occurring will prevent the event in rectangle A
from occurring.
"And" gate event probabilities include what? -
✔✔ANSW✔✔..Multiplying the probability of each event
occurring to get the probably of passing through the "and"
gate.
,"means to limit the potential impact from a loss at a single
location" is what control? - ✔✔ANSW✔✔..Separation.
A company's fleet of cars is worrying the managers
liquidity of the company and fuel prices having an
adverse effect is which type of risk quadrant? -
✔✔ANSW✔✔..Financial risk.
A computer programmed to perform 100,000 times the
probability distribution of profitability of acquiring a new
company is what? - ✔✔ANSW✔✔..Simulation analysis.
A diagram that graphically and sequentially depicts the
activities of a particular organization or process is what? -
✔✔ANSW✔✔..A flowchart.
A failure mode with an effect on the same level that is
being analyzed produces what? - ✔✔ANSW✔✔..A local
effect.
A main characteristic of a key risk indicator is? -
✔✔ANSW✔✔..They are based on quantifiable
information.
A property-casualty insurer has what two operations? -
✔✔ANSW✔✔..Insurance operations and investment
operations.
,A rate should be what? - ✔✔ANSW✔✔..Stable (not
constant over the long term), result in premiums that
cover all losses and expenses and leave some left for
profit and contingencies, be reflective of the risk
exposure, and be responsive.
Stable rates are desirable because changing rates is
expensive.
A strong correlation exists between umbrella policy and
replacement cost policy purchases. It would be incorrect
to conclude demand increases for umbrella policies create
demand increases for replacement policies, why? -
✔✔ANSW✔✔..Because correlation does not measure
causality.
A systemic procedure that uses the results of other
analysis techniques to identify the predominant
determinants of an accident is called? -
✔✔ANSW✔✔..Root cause analysis.
A training seminar in an effort to educate employees on
safe practices is an example of what loss control? -
✔✔ANSW✔✔..Loss prevention.
, A worker is killed because another worker removes a
safety device from the machine and another removes a
warning sticker. What is the root cause of this? -
✔✔ANSW✔✔..Inadequate training.
An analysis that begins with causes and then gets to
consequences is what? - ✔✔ANSW✔✔..Failure mode
and effects analysis.
An earned exposure unit is what? - ✔✔ANSW✔✔..An
exposure unit that has provided a full year of coverage, by
the insurer.
An employee embezzling funds from a company for not
feeling adequately paid is what risk? -
✔✔ANSW✔✔..Both a hazard and an operational risk.
An enterprise risk management approach is categorizing
risks into quadrants. What are hazard risks? -
✔✔ANSW✔✔..Normally managed by risk management
professionals.
An influence diagram does what? -
✔✔ANSW✔✔..Presents an overview of the decision
making process.
COMPLETE 200 QUESTIONS AND CORRECT
DETAILED ANSWERS (VERIFIED ANSWERS)
|ALREADY GRADED A+
•
•
•
•
•
AIDA 182 FINAL EXAM
"And" connecting events in rectangles C, D, and E to the
event in rectangle A indicates what? -
✔✔ANSW✔✔..Preventing the event in rectangle C, D, or
E from occurring will prevent the event in rectangle A
from occurring.
"And" gate event probabilities include what? -
✔✔ANSW✔✔..Multiplying the probability of each event
occurring to get the probably of passing through the "and"
gate.
,"means to limit the potential impact from a loss at a single
location" is what control? - ✔✔ANSW✔✔..Separation.
A company's fleet of cars is worrying the managers
liquidity of the company and fuel prices having an
adverse effect is which type of risk quadrant? -
✔✔ANSW✔✔..Financial risk.
A computer programmed to perform 100,000 times the
probability distribution of profitability of acquiring a new
company is what? - ✔✔ANSW✔✔..Simulation analysis.
A diagram that graphically and sequentially depicts the
activities of a particular organization or process is what? -
✔✔ANSW✔✔..A flowchart.
A failure mode with an effect on the same level that is
being analyzed produces what? - ✔✔ANSW✔✔..A local
effect.
A main characteristic of a key risk indicator is? -
✔✔ANSW✔✔..They are based on quantifiable
information.
A property-casualty insurer has what two operations? -
✔✔ANSW✔✔..Insurance operations and investment
operations.
,A rate should be what? - ✔✔ANSW✔✔..Stable (not
constant over the long term), result in premiums that
cover all losses and expenses and leave some left for
profit and contingencies, be reflective of the risk
exposure, and be responsive.
Stable rates are desirable because changing rates is
expensive.
A strong correlation exists between umbrella policy and
replacement cost policy purchases. It would be incorrect
to conclude demand increases for umbrella policies create
demand increases for replacement policies, why? -
✔✔ANSW✔✔..Because correlation does not measure
causality.
A systemic procedure that uses the results of other
analysis techniques to identify the predominant
determinants of an accident is called? -
✔✔ANSW✔✔..Root cause analysis.
A training seminar in an effort to educate employees on
safe practices is an example of what loss control? -
✔✔ANSW✔✔..Loss prevention.
, A worker is killed because another worker removes a
safety device from the machine and another removes a
warning sticker. What is the root cause of this? -
✔✔ANSW✔✔..Inadequate training.
An analysis that begins with causes and then gets to
consequences is what? - ✔✔ANSW✔✔..Failure mode
and effects analysis.
An earned exposure unit is what? - ✔✔ANSW✔✔..An
exposure unit that has provided a full year of coverage, by
the insurer.
An employee embezzling funds from a company for not
feeling adequately paid is what risk? -
✔✔ANSW✔✔..Both a hazard and an operational risk.
An enterprise risk management approach is categorizing
risks into quadrants. What are hazard risks? -
✔✔ANSW✔✔..Normally managed by risk management
professionals.
An influence diagram does what? -
✔✔ANSW✔✔..Presents an overview of the decision
making process.
