What is property, liability, personnel, and net income.
100
Ownership interest may be both ____ or ____.
What is present or future
100
The four quadrants of ERM are...
What are hazard, operational, strategic, financial
100
Focuses on the source of risk, whether it's pure or speculative, and whether it's diversifiable or non-diversifiable.
What is ERM
200
Firms that have a tangible or intangible financial "interest" in property, they face...
What is property loss exposure
200
The two parties in an insurance contract, insurer and named insured, are known as....
What is secureded creditors
200
NI is considered a _______ because it results from a primary loss.
What is indirect loss
200
These risks are pure, mostly diversifiable, and can be handled with insurance.
What are hazard risks
200
Mainly focus on hazard risks
What is TRM
300
Defective products, sexual harassment, and slip and falls are all examples of...
What is liability loss exposure
300
In a lease agreement, a leasee maybe able to gain from a building damage if this is present.
What is leasehold interest
300
Three events that cause NI Loss Exposures are...
What is losses to property you own, owned by others, and legal liability losses
300
In a TRM (or ERM) the _____ are a corporations most important senior executives.
What is C-Suite
400
The possibility of loss due to the loss of a key member who cannot be readily replaced is....
What is personnel loss exposure
400
In a Bailee interest, the person who has temporary possession is the ______ and the owner of the property is the _____.
What is Bailee, bailor
400
What happens as a result of liability is also know as a _____.
What is secondary loss.
400
Speculative changes in revenues and expenses that can be managed by options or futures are...
What is financial risks
400
Evaluate risk in silo and deals with pure risk
What is TRM
500
Business interruption losses are also known as
What is net income loss exposure
500
This indicates point at which financial responsibility shifts from buyer to seller.
What is freight/free on board (FOB=no responsibility)
500
_________ are a special case of NI Loss Exposure.
What is personnel loss exposure
500
There's risks are direct linked to management decisions and have current and future effects.
What are strategic risks
500
This tool used by ERM compares and identify all risks an organization faces and helps show how the frequency and severity of these losses interfere with key business goals.