Palmer Polymers is changing from a traditional risk management program to an enterprise risk management program. As a first step, the risk manager determined all the risks that the organization faces
Next, she created a grid with loss frequency on the x-axis and loss severity on the y-axis. Then she plotted all of the loss exposures based on frequency and severity. The grid and the plotted loss exposures are called a
A) probability distribution.
B) catastrophe model.
C) risk map.
D) risk management information system.
Answer: C
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Which of the following is NOT a part of a consumer products manufacturer's external economic environment?
A. The existing channels of distribution in the industry B. The number of companies competing in that industry C. Society's beliefs about savings and spending D. Unemployment in the area where the manufacturing plant is located E. Nationwide inflation
Research questions ask what general information is required with respect to the problem components
Indicate whether the statement is true or false