In the Ogden Tables for Personal Injury, what does the discount rate represent? a. The severity of the injury b.The rate of inflation from now until the injured person's retirement c.How many years the injured person is expected to live? d. The expected rate of return on investment
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In the Ogden Tables for Personal Injury, what does the discount rate represent?
a. The severity of the injury
b.The rate of inflation from now until the injured person's retirement
c.How many years the injured person is expected to live?
d. The expected
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- This type of risk can significantly increase for financial institutions when there is an economic meltdown, a high rate of unemployment, added to financial pressures faced by individuals. This type of operational risk is identified as which of the following? a. Fraud such as internal fraud which occures in financial institutions as a result of people risks. b. Fraud through the use of a computer device to alter or change information for personal use or benefit. c. Staff dishonesty which occures when dishonest employees obtain individual´s personal and sensitive information. d. Human error caused by mistakes made by humans such as errors in processing information, poor data management etc.Max-Fly Aviation Ltd is an aerospace company that makes commercial drones. They are currently developing a formalized risk management process, and they are now in the process of identifying risks to consider? Which of the following risks would NOT be relevant? Risks that will affect their workforce Risks that will affect their competitors Risks that will affect their customers Risks that will affect their operations. Draw a basic Risk Matrix (Probability vs. Impact) and plot the following FIVE (5) risks. Loss of physical assets Loss of human capital Technology/ equipment failure Operational loss Loss of supply Public Liability
- Explain why such a small percentage of employees would actively look for alternative jobs when they are secure in their employment. Additionally, consider employees who are informed that they might lose their job shortly. Considering that the potential job loss is not based on performance but is based rather on structural conditions of the firm, they might expect to earn more upon finding a new job. What does the endowment effect have to say regarding how the employee values the outcome of the job hunt before and after finding their new job?Scaffold Equipment manufactures and sells scaffolds and ladders that are used by construction firms. The products are sold directly to independent retailers in the United States. The company's risk manager knows that the company could be sued if a scaffold or ladder is defective, and someone is injured. Because the cost of products liability insurance has increased, the risk manager is considering other techniques to treat the company's loss exposures.a. Describe the steps in the risk management process.b. For each of the following risk management techniques, describe a specific action using that technique that may be helpful in dealing with the company's products liability exposure.1. Avoidance2. Loss prevention3. Loss reduction4. Noninsurance transfersYou are in your new job as the Chief Financial Officer for a hospital that is struggling with patient collections and you may have to recommend staff reductions to keep the hospital solvent, what ways would you use to boost collection of patient financial responsibility and what would you do if the patient still cannot pay?
- continuation of the case study : continuation of the case study : Our mission has always been clear: to build instant, honest, affordable insurance that people love. This might seem like a big, hairy, audacious goal, given the levels of apathy and distrust most people feel towards insurance. Then again, most worthwhile endeavours aren't easy. We believe it's imperative to restore people's confidence that their insurance will do what it says on the tin, and that we are on the right track to doing just that. How are we doing this? First, through our technology. We give people total control, from enabling them to buy cover online in seconds, to allowing them to claim and manage their car, home and single item insurance directly on the Naked app. Our technology also never sleeps, meaning this can be done 24/7 and all without chatting to a call centre. These operational savings are then passed on directly to our clients, through sustainably lower premiums. The second part is the way that…You are a newly hired fraud examiner. You have been asked to write a preliminary report on the Paving Company Case scenario. In your response, the following points must be addressed fully: a) Determine the type of fraud committed and describe the symptoms of fraud that might be evident to an investigator. b) All frauds involve key elements. Identify and describe using examples the elements of the Sharp's fraud. c) In the scenario, Sharp’s employer has been putting more emphasis on controlling costs for the various businesses. With the slowing of overall spending in the construction sector, Travolta had ordered managers to closely monitor expenses. He had sold several companies and has given vice presidents greater responsibility for statements of financial positions. What positive and negative consequences might this pose to the company in future fraud prevention? Outline at least three of each type. d) Describe Fine Works Paver’s fraud prevention programme…A hiring manager told a candidate that if they joined the company , they would be promoted within 6 months , would be given an office , and would be given a substantial raise . The candidate took the job based on this information . After the 6 month period , the employer did not come through with these promises and stated the reason was financial constraints . 1. What is this an example of ? 2. Discuss how employees can protect themselves from these types of situations ?
- 7. Assume that there is a 9% rate of disk drive failure in a year. a. If all your computer data is stored on a hard disk drive with a copy stored on a second hard disk drive, what is the probability that during a year, you can avoid catastrophe with at least one working drive? b. If copies of all your computer data are stored on three independent hard disk drives, what is the probability that during a year, you can avoid catastrophe with at least one working drive? a. With two hard disk drives, the probability that catastrophe can be avoided is nothing. (Round to four decimal places as needed.)EIGHTEEN. A risk response plan can be used to identify increasing levels of detailed risk analysis. True FalseWhile performing a procedure, a surgeon accidentally cuts a patient's nerve causing permanent neurological damage. After reviewing the event, the hospital's risk management committee determined that the surgeon was not qualified to perform this procedure.Which steps should be part of the hospital’s hiring process to ensure surgeons are qualified to perform procedures?