0
What else can I help you with?
How does fundamental risk differ from particular risk?
Fundamental risk is a risk that affects large population for eg natyral calamities and disasters like Earthquake, Floods while Particular risks are the risks faced by indivdual or a small group of individuals such as a motor accidents, personal injuries
What is the difference between controllable and noncontrollable risk factors?
Consider these two risks:- 1) that you will be hit by a meteorite. 2) that you will be sick because you ate bad food. The first risk is uncontrollable because there is nothing you can do to lessen it. However the second risk is controllable because you can take care to see that your food is fresh and well cooked - in other words you can lessen this risk.
WHAT ARE ANSWERS TO THE Risk Management Civilian Basic Course?
Risk Management Civilian Basic Course Exam
5 basic methods of handling risk?
What Are The Tools of Risk Management?There are four basic tools of risk management:AvoidanceRetentionLoss Prevention and ReductionTransfer (to another entity)Avoidance: Many times it is not possible to completely avoid risk but the possibility should not be overlooked. For example, at the height of a blizzard, Car Fleet may not release vehicles for travel until the weather begins to clear, thus avoiding the risk of auto accidents during severe weather. Some buildings on campus have had repeated water problems in some areas - by not allowing storage of supplies in those areas, some water damage claims may be avoided.Retention: It may be determined that it is more practical to retain a risk even though other methods of handling the risk are available. For example, the University retains the risk of loss to fences, signs, parking meters, gates and light poles because of the difficulty of enumerating and evaluating all of these types of structures. When losses occur, the cost of repairs is absorbed by the campus maintenance budget, except for those situations when we can collect from a negligent third party.Loss Prevention and Reduction: When risk cannot be avoided, the effect of loss can often be minimized in terms of frequency and severity. For example, our office encourages the use of security devices on all computers, to reduce the risk of theft. We require the purchase of health insurance by students who are studying abroad, so that they might avoid the risk of financial difficulty, should they incur medical expenses in another country.Transfer: In some cases risk can be transferred to others, usually by contract. When outside organizations use University facilities for public events, we require that they provide evidence of insurance and name the University as an additional insured under their policy, thereby transferring the risk from the University to the user. The purchase of insurance is also referred to as a risk transfer since the policy actually shifts the financial risk of loss, contractually, from the insured entity to the insurance company.
Difference between basel I and basel II?
Basel I was an international accord to set minimum levels of capital for banks. It was designed to ensure that lenders were sufficiently well capitalized to protect depositors and the financial system. The first Basel Accord however was replaced by a new accord, Basel II. The new accord was introduced to keep pace with the increased sophistication of lenders' operations and risk management and overcome some of the distortions caused by the lack of risk assessment divisions in Basel I. Basel I required lenders to calculate a minimum level of capital based on a single risk weight for each of a limited number of asset classes, e.g., mortgages, consumer lending, corporate loans, exposures to sovereigns. Basel II goes well beyond this, allowing some lenders to use their own risk measurement models to calculate required regulatory capital whilst seeking to ensure that lenders establish a culture with risk management at the heart of the organization up to the highest managerial level.
How does fundamental risk differ from particular risk?
Fundamental risk is a risk that affects large population for eg natyral calamities and disasters like Earthquake, Floods while Particular risks are the risks faced by indivdual or a small group of individuals such as a motor accidents, personal injuries
What are the Difference between fundamental risk and particular risk?
Fundamental risk refers to the potential for widespread losses affecting large groups or entire economies, often due to systemic factors such as natural disasters, economic recessions, or geopolitical events. In contrast, particular risk is specific to an individual entity or asset, such as a company's operational failures, management decisions, or local market conditions. While fundamental risks are typically beyond an individual's or company's control, particular risks can often be managed or mitigated through strategies like diversification or insurance.
What are the fundamental goals of risk?
what are the fundamental goals of risk management
Different between certainty risk and uncertainty risk?
Different between certainty risk and uncertainty ris
What are the fundamental goals?
What are the fundamental goals of risk management
What is the fundamental goal of risk management?
The fundamental goal of risk management is to minimize the cost of risk and to maximize a firm's value (in the context of business risk management).
What fundamental goals of risk management?
The fundamental goal of risk management is to minimize the cost of risk and to maximize a firm's value (in the context of business risk management).
What is fundamental goal of risk management?
The fundamental goal of risk management is to minimize the cost of risk and to maximize a firm's value (in the context of business risk management).
What are the fundamental goals of RM?
What are the fundamental goals of risk management
What are the fundamental goals RM?
What are the fundamental goals of risk management
Difference between types of risk and classification of risk?
Types of risk means definition of different types of risk by your own means to facilitate your understanding. Classification of risk means the definition of different types of risk using technical terms to standardize it for the people.
What are similarities and differences between insurance and risk management?
"Risk management" might be considered to be the umbrella topic. Managing risk can be accomplished by risk avoidance, taking measures to reduce or ameliorate risk, or risk transfer. Insurance is the fundamental form of risk transfer because the financial impact of an untoward event (the risk) is transferred to a third party (the insurer) in return for the payment of a premium.
