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Questions and Answers
What is the direct loss?
What is the direct loss?
- Loss caused by civil liability towards others
- Loss suffered by a large group of people
- Loss that directly affects the asset and its effects appear on it (correct)
- Loss represented by natural factors that humans have effect in their existence or occurrence
What is an example of an indirect loss?
What is an example of an indirect loss?
- Exposure to the dangers of wars, storms, and earthquakes
- Natural factors that humans have no effect in their existence or occurrence
- Factors that lead to an increase in the loss resulting from human intervention, but without intention
- Cost of workers’ wages during the period of restoring the factory (correct)
What is a peril in terms of risk hazards?
What is a peril in terms of risk hazards?
- Risks that do not result in any measurable material loss
- Anything that either causes or increases the likelihood of a loss (correct)
- Group of factors that lead to an increase in the loss resulting from human intervention, but with intention
- Natural factors that humans have effect in their existence or occurrence
Which classification of hazard includes natural factors that humans have no effect in their existence or occurrence?
Which classification of hazard includes natural factors that humans have no effect in their existence or occurrence?
What are non-economic risks?
What are non-economic risks?
What is the probability range for the occurrence of loss according to the text?
What is the probability range for the occurrence of loss according to the text?
How does the text define 'accident' in the context of risk?
How does the text define 'accident' in the context of risk?
What does 'moral loss' refer to based on the text?
What does 'moral loss' refer to based on the text?
What does 'loss' refer to according to the text?
What does 'loss' refer to according to the text?
In what range is the probability of loss that is considered impossible according to the text?
In what range is the probability of loss that is considered impossible according to the text?
What is the main characteristic of the Risk Retention policy?
What is the main characteristic of the Risk Retention policy?
What distinguishes Risk Transfer from other risk management techniques?
What distinguishes Risk Transfer from other risk management techniques?
What is the primary goal of Risk Avoidance?
What is the primary goal of Risk Avoidance?
Which policy refers to actions taken to reduce the amount of loss or prevent loss of life, health, and property from an accident?
Which policy refers to actions taken to reduce the amount of loss or prevent loss of life, health, and property from an accident?
What does Risk Segmentation aim to achieve?
What does Risk Segmentation aim to achieve?
Which policy involves the spreading of losses incurred by a few over the entire group?
Which policy involves the spreading of losses incurred by a few over the entire group?
What distinguishes Loss Prevention from other risk management techniques?
What distinguishes Loss Prevention from other risk management techniques?
Which policy involves preventing loss in its entirety by not engaging in risky activities?
Which policy involves preventing loss in its entirety by not engaging in risky activities?
What is the primary characteristic of Pooling of Losses?
What is the primary characteristic of Pooling of Losses?
What distinguishes Risk Segmentation from other risk management techniques?
What distinguishes Risk Segmentation from other risk management techniques?
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