solution
The risk quantification process compares los exposures relative to two criteris Select one
a loss frequency, and loss severity
b The cost of retention, and the cost of insurance
c The cost of the exposure unit and the cost of insurance
d The loss frequency versus loss severity, and the cost of insurance
Freddie Franks. Florida Funpark’s risk manager, is trying to decide the best way to thance the park’s property postele Florida hacia arricanes mecum frequencyFreddie believes the best risk financing for this property Select one
a. Retention, because the cost of insurance may be quite ligh
b .Transfer, because the lors may be catastrophe
c Retention, because the probability is a medium value on les rok mp
d Insurance, because he is concerned about legal ability
The old saying in risk management: “Don’t rika lot for a little is best exemplified by which of the long statements? Select one
a The insurance policy deductible should be increased to the largest possible amount
b Retention should always be used unless the loss severity is large
c Transfers should always be used unless the loss frequency is low
d Retention should not be used if the loss severity potential is high
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