ARM54
Risk Management Principles and Practics
Risk Management Principles and Practics
Kartei Details
| Karten | 84 |
|---|---|
| Sprache | Deutsch |
| Kategorie | BWL |
| Stufe | Andere |
| Erstellt / Aktualisiert | 19.02.2016 / 03.10.2021 |
| Weblink |
https://card2brain.ch/box/arm54
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Chapter 3
Definition of hazard risk
A typ of risk that provides the potential for only negative outcome
Chapter 3
Hazard Risk can be categorized in this (3) manner:
- Personal Risk
- Property Risk
- Liability Risk
Chapter 3
Which two measures are traditionaly used for hazard risk exposures?
- Frequency: number of losses
- Severity: The size of a loss
Chapter 3
Risk manager use the following techniques to reduce the frequency and / or severity of hazard risks:
-Avoidance eliminates any possibiliy of loss
-Separation involves dispersing a particular activity over several locations
-Duplication involves relying on backups
-Diversification involves providing a range of products and services
-Prevention involves techniques to reduce the frequency
-Reduction involves techniques to reduce the severity
