The most useful purpose of a risk management information system (RMIS)is to:
A)catalogue insurance policies
B)record, track, and analyze losses
C)maintain payroll and personnel records
D)calculate capital budgeting decisions

Question

Quizplus · Accepted Answer

The main purpose of a risk management information system (RMIS) is to record, track, and analyze losses. This helps organizations identify potential risks and develop strategies to mitigate them, which can ultimately save the organization money and prevent future losses. While RMIS may also catalog insurance policies or maintain payroll and personnel records, its primary function is to manage risk. RMIS does not calculate capital budgeting decisions, which is a separate area of financial management.

The Most Useful Purpose of a Risk Management Information System