SEC 320 Week 4 Quiz Solutions

Jul 6th, 2016
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DeVry University
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1. Question : (TCO 1) The common categories of risk include 2. Question : (TCO 2) The analyst should develop information for which of the following? 3. Question : (TCO 1) Which of the following risks are generally considered? 4. Question : (TCO 3) When valuing assets, they should be broken down into these three categories: 5. Question : (TCO 1) Probability is defined as 6. Question : (TCO 2) In operational risk management, an example of a process can include 7. Question : (TCO 2) How does the Vulnerability Self-Assessment Tool (VSAT) define vulnerability? 8. Question : (TCO 1) Differentiate the best way to handle the following risks: high severity, high frequency; high severity, low frequency; medium severity, and a risk with a probability range of 4-6; low severity, high frequency; low severity, low frequency. 9. Question : (TCO 3) When deciding to insure assets, risks must substantially meet certain requirements in order to be insurable. Name four requirements. ...............

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1.Question :(TCO 1) The common categories of risk includeStudent Answer:gambling, total loss, and risk transfer.assets, risk transfer, and liability.personal, property, and liability.personal, property, and insurance.Instructor Explanation:Points Received:page 35 of 5Comments:2.Question :(TCO 2) The analyst should develop information for which of thefollowing?Student Answer:Assets, exposures, resourcesAssets, insurance coverage, profitsAssets, losses, valuationAssets, exposures, lossesInstructor Explanation:Points Received:page 90 of 5Comments:3.Question :(TCO 1) Which of the following risks are generally considered?Student Answer:Product liabilityThe liability of officers and directorsCrime lossesAll of the aboveInstructor Explanation:Points Received:Comments:page 105 of 54.Question :(TCO 3) When valuing assets, they should be broken down into thesethree categories:Student Answer:owned, leased, and facilities, indirect, and, expense, and budgeted.None of the aboveInstructor Explanation:Points Received:page 100 of 5Comments:5.Question :(TCO 1) Probability is defined asStudent Answer:a mathematical guess.the ratio of all probable outcomes to the number of attempts.the ratio of the number of favorable cases to all possible cases.the ratio of the number of unfavorable cases to all possibleoutcomes.Instructor Explanation:Points Received:page 240 o

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