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What is the difference between risk and exposure?
An exposure consist of the potential financial effect of an event multiplied by its probability of occurrence and risk is with probability of occurrence. Thus an exposure is a risk times its financial consequences.
In assessing hazards which elements make up the cross-matrix comparison to determine a risk level?
Severity, Exposure, and Probability.
In assessing hazards which elements make up the cross-matrix comparison to determine a risk level.?
severity, exposure, and probability
What is residual risk mean in composite risk management process?
Risk that remains after response to ridentified risk is planned/selected
What are the three factors you should consider when assigning a risk level in the second step of the Six-Step process?
Probability, Severity, and Exposure
What does risk mean in a risk assessment?
Risk is an uncontrolled exposure to loss.
What is the difference between risk and exposure?
An exposure consist of the potential financial effect of an event multiplied by its probability of occurrence and risk is with probability of occurrence. Thus an exposure is a risk times its financial consequences.
Non renewal homeowners insurance due to exposure and risk management?
It means that the company is declining to renew your policy when it expires. Risk Exposure - There has been a change or new risk exposure identified by the company that makes your home no longer eligible for coverage. Risk Management - This generally indicates that the increase in risk exposure is something that the homeowners could manage, but have chosen not to correct.
Will you get cancer if you work with benzine?
That exposure will increase the risk, but a risk is not a certainty.
Are x rays safe for young children?
There is a risk of getting radiation exposure from x rays. This exposure can increase the risk of gene mutations and cancer. Overall, x rays are safe for young children, but should avoid over exposure and unnecessary exposure when able.
What is the definition of a risk?
a situation involving exposure to danger
What are the four risk assessment of malathion?
Hazard Identification Dose-Response Exposure Risk Characterization
First key to reducing the risk of exposure to bloodbone pathogens?
The first key to reducing the risk of exposure to blood-borne pathogens is to use nonporous barriers such as gloves and goggles.
What term is used to describe any exposure to a threat?
risk
What criteria do you use when assessing risk?
Exposure, severity, and probability.
How does diversification affect financial institions credit risk exposure?
Generally, diversification helps reduce the overall credit risk exposure for financial institutions by reducing their overall expected chargeoff rates.
What is the differences between dynamic risk and static risk?
Dynamic risk is subject to exposure of loss due to environmental changes such as change in inflation rate, technology, natural calamities, political upheaval. Static risk is subject to exposure of risk but not significantly affected by the business environment and remain constant such as fire, theft and misappropriation. Dynamic risk is not insurable whereas static risk is insurable.
