CISR - Elements Of Risk Management Exam Questions With 100% Correct Answers 2025/2026 (Expert Verified)

CISR - Elements Of Risk Management Exam Questions With 100% Correct Answers 2025/2026 (Expert Verified) A ____ is a cause of loss - answer-peril A situation, behavior, or condition that may lead to adverse financial consequences - answer-exposure A cyberattack is an example of a ____ - answer-peril An Insured who shows no regard for his insured property demonstrates a - answer-morale hazard A spill on a supermarket aisle is an example of a ____ because it increases the likelihood that someone will fall - answer-hazard A passenger enters an elevator. His clothing is caught in the elevator door as the door closes. The passenger snatches the clothing from the door before the elevator begins to move. He is uninjured and his clothes are not damaged. - answer-incident A mixing paddle on a faulty bakery mixer snaps and strikes an employee's hand. The employee's hand is cut and bleeding - answer-accident A driver is at fault in a minor auto accident. The other driver is uninjured, but the bumper on her car requires repairs. The other driver demands that the at-fault driver's insurance company pay for the loss. - answer-claim The total dollar amount of all losses for a given period of time - answer-severityA loss has occurred but is unlikely to occur again in the future - answer-low frequency An organization's tolerance for risk - answer-risk appetite The product of loss frequency multiplied by loss severity - answer-expected losses The total amount of losses in a given period divided by the total number of claims - answer-average severity A loss expected to continue occurring regularly - answer-high frequency