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
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
