RMI
A civil wrong, other than a breach of contract, that causes harm or loss and results in legal liability.
What is a tort?
This international collegiate organization connects students interested in risk management, insurance, and actuarial science. Do not answer with an acronym.
What is Gamma Iota Sigma
This is the primary function of insurance: transferring financial risk from an individual or business to an insurer in exchange for a premium.
What is risk transfer?
This professional uses mathematics, statistics, and financial theory to analyze risk and help insurers price policies and predict future losses.
What is an Actuary
According to U.S. News & World Report, this university’s Risk Management & Insurance program is ranked among the top programs in the nation—specifically at this pos
What is 4th in the United States?
A legal doctrine meaning “the thing speaks for itself,” where negligence is inferred because the injury would not normally occur without it and the defendant had control.
What is res ipsa loquitur?
This specific chapter of Gamma Iota Sigma is based at Georgia State University.
What is the Zeta Chapter?
These are the two fundamental categories of risk: one involves the chance of loss only, while the other includes the possibility of both loss and gain.
What are pure risk and speculative risk?
This principle states that as the number of exposure units increases, the actual loss experience will more closely approximate the expected loss.
What is the Law of Large Numbers?
Name at least five residential housing buildings at Georgia State University.
What are Patton Hall, Piedmont North, Piedmont Central, University Commons, University Lofts, and Greek
Three professors who teach in the Risk Management & Insurance program at Georgia State University.
Harold Weston, Bridget Montague, Jim Presmanes, Brian Monroe, Drew Papandrea
Where was the last GIS regional conference?
Atlanta
This insurance principle restores the insured to the same financial position they were in before a loss, no better, no worse.
What is indemnification?
In risk analysis, one measures how often losses occur, while the other measures how large those losses are, and together they determine pricing, underwriting strategy, and overall risk management.
What are frequency vs. severity?
This is the founding year of Georgia State University
What is 1913?
This key distinction separates two insurance roles: one evaluates and accepts risk on behalf of an insurer, while the other represents clients and shops the market for coverage.
What is an underwriter vs. a broker?
Five leadership positions that make up the executive board of Gamma Iota Sigma at Georgia State University.
What are President, Vice President, Treasurer, Secretary, and Director of Professional Development?
This legal process allows an insurer, after paying a claim, to step into the policyholder’s shoes and recover from the responsible third party.
What is subrogation?
One concept spreads risk across many policyholders to make losses predictable, while the other refers to funds insurers set aside to pay future claims.
What are risk pooling and reserves?
These two individuals currently serve as the president and First Lady of Georgia State University.
who are Brian Blake and Bridget Blake
A property manager ignores repeated warnings about a dangerous condition, and a tenant is injured when that condition fails. This establishes a specific type of tort because all required elements are met.
What is negligence?
Duty of Care, Breach of Duty, Causation, and Damages
This international professional designation requires candidates to pass a series of rigorous exams covering risk management, insurance operations, finance, and ethics—often pursued by top members of Gamma Iota Sigma.
What is the CPCU (Chartered Property Casualty Underwriter)?
These catastrophic, highly correlated perils are often excluded from standard property policies because they produce widespread, simultaneous losses that cannot be effectively managed through traditional risk pooling.
What are flood, earthquake, war, and nuclear hazard?
This probability distribution models the number of events occurring in a fixed interval of time or space when those events happen independently and at a constant average rate.
What is the Poisson distribution?
This student organization has a defined number of executive board positions, how many
What are 12 positions