Chpt 1 The Changing Risk Environment Flashcards
Big Data
Sets of data that are too large to be gathered and analyzed by traditional methods.
Sets of data that are too large to be gathered and analyzed by traditional methods.
Big Data
Smart Product
An innovative item that uses sensors; wireless sensor
networks; and data collection, transmission, and
analysis to further enable the item to be faster, more
useful, or otherwise improved.
An innovative item that uses sensors; wireless sensor
networks; and data collection, transmission, and
analysis to further enable the item to be faster, more
useful, or otherwise improved.
Smart Product
Internet of Things (IoT)
A network of objects that transmit data to and from
each other without human interaction.
A network of objects that transmit data to and from
each other without human interaction.
Internet of Things (IoT)
Cloud Computing
Information, technology, and storage services
contractually provided from remote locations,
through the internet or another network, without a
direct server connection.
Information, technology, and storage services
contractually provided from remote locations,
through the internet or another network, without a
direct server connection.
Cloud Computing
Blockchain
A distributed digital ledger that facilitates secure
transactions without the need for a third party.
A distributed digital ledger that facilitates secure
transactions without the need for a third party.
Blockchain
Telematics
The use of technological devices in vehicles with
wireless communication and GPS tracking that
transmit data to businesses or government agencies;
some return information for the driver.
The use of technological devices in vehicles with
wireless communication and GPS tracking that
transmit data to businesses or government agencies;
some return information for the driver.
Telematics
Text mining
Obtaining information through language recognition.
Obtaining information through language recognition.
Text mining
Risk appetite
Amount of risk an organization is willing to take on
in order to achieve an anticipated result or return.
Amount of risk an organization is willing to take on
in order to achieve an anticipated result or return.
Risk appetite
Value at risk (VaR)
A technique to quantify financial risk by measuring
the likelihood of losing more than a specific dollar
amount over a specific period of time.
A technique to quantify financial risk by measuring
the likelihood of losing more than a specific dollar
amount over a specific period of time.
Value at risk (VaR)
Cost of risk
The total cost incurred by an organization because of
the possibility of accidental loss.
The total cost incurred by an organization because of
the possibility of accidental loss.
Cost of risk
Exposure
Any condition that presents a possibility of gain or
loss, whether or not an actual loss occurs.
Any condition that presents a possibility of gain or
loss, whether or not an actual loss occurs.
Exposure
Volatility
Frequent fluctuations, such as in the price of an asset.
Frequent fluctuations, such as in the price of an asset.
Volatility
Likelihood
A qualitative estimate of the certainty with which
the outcome of a specific event can be predicted.
