Palmer Polymers Is Changing from a Traditional Risk Management Program

question 21

Multiple Choice

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.

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Definitions:

Rationale

The underlying reason or logic behind a decision, action, or belief.

Social Distance

The physical or psychological space between individuals or groups, which can affect their interaction and perception of intimacy or connectedness.

Social Empathy

The ability to understand and share the feelings of others within a social context.

Developing Resources

The process of identifying, creating, or enhancing assets and means that can be used to achieve goals or improve functionality.