General Review Flashcards
1
Q
Common Risk Financing Goals
A
- Pay for losses
- Manage the cost of risk
- Manage CF vari.
- Maintain an approp. level of liquidity
- Comply with legal requirements
2
Q
Risk control techniques
A
- Avoidance
- Loss prevention
- Loss reduction
- Separation
- Duplication
- Diversification
3
Q
To accurately analyze loss exposures using past data, the data should be?
A
- Relevant
- Complete
- Consistent
- Organized
4
Q
Definition of risk
A
the uncertainty about outcomes including the possibility that some of those outcomes can be negative
5
Q
Pre-loss goals
A
- Economy of Operations
- Tolerable Uncertainty
- Social Responsibility
- Legality
6
Q
Post-Loss goals
A
- Survival
- Continuity of operations
- profitability
- earnings stability
- Social responsibility
- Growth
