This website uses cookies to ensure you have the best experience. Learn more

Questions And Answers: Loss Prevention And Loss Reduction

955 words - 4 pages

• Chapter 4: Review section, pg. 60: Questions
1. How is loss prevention different from loss reduction? Give some example of each.
Risk management purpose is to prevent and reduce the frequency and severity of potential losses. Loss prevention programs promote avoidance of losses, measuring the loss frequency. Some examples are safety programs implemented to prevent workplace injuries, fire detectors, burglar alarms, and other protective devices to prevent losses caused by fire and theft. Insurance companies offer discounts to organization or individuals taking loss prevention measures as incentive for their participation.
While, in loss reduction the scope of the programs limit the extent ...view middle of the document...

• Chapter 5: Review section, page 78: Questions
14. From the viewpoint of the option holder, what is the difference between call option and put option?
“Options give you the right (without the obligation) to transact a security at a predetermined price within a certain time period. In a call option, the buyer has the right (but is not required) to buy an agreed quantity of a commodity or financial instrument (called the underlying asset) from a seller by a certain date (the expiry) for a certain price (the strike price). A put option is the right to sell the underlying stock at a predetermined strike price by a certain date” (Call Option vs Put Option, 2014).

Chapter 6: Review section, page 92, Question
2. How does insurance redistribute the cost of losses?
Insurance reallocate financial risk among a large number of people to reduce its risk exposure to losses when paying incurred individual. For these reason, a specified payment (premium) is set, the insurer assumes financial responsibility of a specify amount of payment to the insured in the event that the insured suffers a loss covered by the insurance contract. By pooling both the financial contributions and the risks of a large number of policyholders, the insurer is able to absorb more losses than an individual.
4. Describe the difference between a named-perils policy and an open-perils policy.
There are two different types of insurance policies: named perils or specific-perils and open perils policies. Identifying the differences between these two types of contracts can help to select which one offers the coverage and protection a policy holder needs. The main difference is the type of peril coverage each policy provides.
Named perils policy provide coverage of a specific list of risks and events, incidents, and risk categories that are covered. If an event should occur that is not listed on the contract, no coverage will be offered under this particular insurance policy.
For the contrary, an open perils...

Find Another Essay On Questions and Answers: Loss Prevention and Loss Reduction

Love And Loss Essay

1829 words - 7 pages Love And Loss I chose to discuss love and loss as these were two strong emotions that have occured in my life. They are both very different but also similar in a way. The two poems I felt dealt with love and loss the best were 'The Thickness Of Ice' by Liz Loxley and 'Remember' by Christina Rossetti. I chose these poems as the thoughts reflected and the experiences included related very much to my own life and views. 'The Thickness

Accounting questions and answers Essay

3250 words - 13 pages calculated a depreciation expense over 3 years with $1 million estimated residual value, using the reducing balance method of depreciation because it is more difficult to calculate and you want to show your mathematical skills. The Chief Financial Officer (CFO) has taken this depreciation expense and factored it into his financial projections (budgets) for the coming year. He realizes such a large depreciation expense will lead to a loss and has

Macroeconomics Questions and Answers

1049 words - 5 pages Question 1: (Word limit 500). The inflation target of the Reserve Bank of Australia (RBA) is 1~3%. Suppose now the inflation is going up quickly and will be higher than this target soon. Moreover, the strong Australian dollar has started to hurt the Australian export. Please use what you have learnt from this unit to discuss whether it’s possible for the RBA to keep the inflation within the target and also to depreciate the Australian dollar

Religiological Questions and Answers

1151 words - 5 pages questions/ would like more specific examples feel free to ask! 1. Epistemology- Inquiry into knowledge What constitutes valid knowledge and how to interpret that knowledge? What do you rely on in order to gain knowledge? What should be used to understand and properly interpret that basis of knowledge? Is there a basis for valid knowledge/ truth? The foundation of valid knowledge depends on one’s personal understanding. To “know” means to

Syria Questions and Answers

800 words - 4 pages Tica Drury 10/22/13 Period 3 Syria Country Questions FREAS 1. History of the protests a. When did the protests begin? Why did they begin? The protests began 15 March 2011. The president of syria, Bashar Assad, boasted that a revolution would never happen in his country, unlike Syria’s near by neighbors Egypt and Tunisia. President Bashar Assad was wrong however. His country was affected by the ever spreading Arab Spring/Uprising

Slim-Fast® and Weight Loss

3545 words - 14 pages individual for the study: time taken to lose the weight, a reference physician to prove the weight loss, and motivation for the weight loss (medical, emotional, or life events). The participants rated the perceived level of difficulty of losing the weight and the level of difficulty of maintaining the weight loss on a scale of one to seven. Further questions determined the dietary strategies that the participants used for their weight-loss maintenance

The Ear And Hearing Loss

1025 words - 4 pages The Ear and Hearing Loss The ear is the organ of hearing and balance in vertebrates. The ear converts sound waves in the air, to nerve impulses which are sent to the brain, where the brain interprets them as sounds instead of vibrations. The innermost part of the ear maintains equilibrium or balance. The vestibular apparatus contains semicircular canals which in turn balance you. Any movement by the head, and this apparatus sends a signal to

Diet and Weight Loss Trends

2436 words - 10 pages Now a days, many teens are trying to lose weight. Some of their attempts to lose weight are often unhealthy. One of the more popular methods of weight loss is dieting, or the regulated selection of foods, as for medical reasons or weight loss. A large number of teens are resorting to unhealthy weight loss behaviors. According to Neumark-Sztainer, Story, Hannan, Perry and Irving ( 2002), “more than 1/2 of girls and 1/3 of boys engage in

hope and loss of hope

767 words - 4 pages . The dust bowl would not let people go outside and work the fields. This leaving the people inside forced to sit and wait out the storm unable to make money and provide for their families. Then later on the “fambly” is so poor that they cannot afford a proper burial for the grandfather so they have to leave his body in the dirt unmarked, leaving the family with regret and loss. “Lines of weariness around the eyes lines of discontent down from the

The Loss of Power and the Loss of Purpose

1243 words - 5 pages he had once explained himself to be before the war. With such a great loss that he suffered, he constantly thinks, and speaks about the war. When thinking about Anja, and those that he lost, he explains how “it still makes me cry..even from my dead eye tears are coming out” (Spiegelman, Vol I, 84). Despite his best efforts to find meaning as a survivor by helping his son write a comic book about his experiences, he continues to suffer from his

Questions and Answers about Allergies

2655 words - 11 pages Question 1: (Amani) It is very important for Physicians, researchers, and patients to understand the terminology used to define allergic diseases. Failure to do so can lead to inappropriate advice, prevention and ineffective treatment. The term allergy is commonly refers to reactions or conditions related to an IgE antibody-mediated immunological mechanism following antigenic exposure. Antigen is a material that is capable of initiating an

Similar Essays

Loss And Identity Essay

778 words - 4 pages structure by adding the word ‘too’ in line one of the refrain and writing that loss “may look like (Write it!) like disaster” (Bishop, 18-19). Using the villanelle’s format, Bishop has to end the poem with “disaster.” Struggling with the hindrance prescribed by the framework, “(Write it!)” suggests an urgency to just finish and conform. Even though the villanelle prescribes that the refrain ends the poem, Bishop hesitates to admit that loss is

Hypnosis And Weight Loss Essay

2782 words - 11 pages Hypnosis and Weight Loss Hypnosis has many practical uses, and these days it is becoming increasingly popular as a method of behavior modification. The Internet contains many advertisements for self-help programs that use hypnosis to reduce stress, quit smoking, or lose weight. In the area of hypnosis and weight loss, there are many web sites for both products and services for sale that promise to help anyone lose weight. Hypnosis uses

Smartphone’s And Weight Loss Essay

683 words - 3 pages Weight loss is one of the biggest exploited activities in the media today. With millions of Americans overweight and children who are obese, smartphones are offering a practical solution. They offer everyone the chance to have better information sharing, greater function ability, faster communication, and never being out of touch with friends and family. There are 5,820 medical, health, and fitness apps available for smartphones today. Yet, not

Aspartame And Weight Loss Essay

1038 words - 5 pages consumption. Most of these studies have replaced an individual’s consumption of a SSB with an ASB and looked at changes in their weight. Think Pepsi Challenge only replace the Coke with a Diet Coke for several weeks or months. These studies all seem to suggest that substituting out SSBs with ASBs leads to at least modest weight loss. However, it is important to note that these studies were rather short in duration and that the weight loss seen