Chapter 33.1 Key Terms Created By: Jaron Reed

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Across
  1. 3. a situation involving exposure to danger.
  2. 4. Risk that the group may incur losses due to drain or loss of personnel, deterioration of morale, inadequate development of human resources, inappropriate working schedule, inappropriate working and safety environment, inequality or inequity in human resource management or discriminatory conduct.
  3. 5. (in business) the forecasting and evaluation of financial risks together with the identification of procedures to avoid or minimize their impact.
  4. 6. risk is a category of risk in which loss is the only possible outcome, which is the opposite of speculative risk. There are products that can be purchased to mitigate pure risk, such as home insurance being used to protect homeowners against their homes being destroyed.
  5. 9. *age. *race. *gender. *heredity (heart disease, depression, dementia, diabetes, low blood pressure)
  6. 10. A hazard or condition that has either a high likelihood of loss, or in which the insurance would be considered against the law. Insurance companies limit their losses by not taking on certain risks that are very likely to soon result in a loss.
  7. 11. practice or arrangement by which a company or government agency provides a guarantee of compensation for specified loss, damage, illness, or death in return for payment.
Down
  1. 1. The chances of loss from various factors that can be reduced or avoided altogether. An astute business manager might take steps to identify most forms of controllable risk facing their company and take steps to put internal control procedures in place to reduce the chances of such risks resulting in actual losses.
  2. 2. An insurable risk is a risk that meets the ideal criteria for efficient insurance. The concept of insurable risk underlies nearly all insurance decisions. ... In other words, the risk cannot be catastrophic, or so large that no insurer could hope to pay for the loss.
  3. 6. Image result for pure riskiedunote.com
  4. 7. Economic risk is the chance that macroeconomic conditions like exchange rates, government regulation, or political stability will affect an investment, usually one in a foreign country.
  5. 8. refers to the possibility of inadequate profits or even losses due to uncertainties e.g., changes in tastes, preferences of consumers, strikes, increased competition, change in government policy, obsolescence etc .