A) When you can buy insurance policy B) Risks can never be avoided C) When the risk event is has a very low probability of occurrence and high impact D) When the risk event is has a very high probability of occurrence and high impact
A) Moral hazard B) Physical hazard C) Peril D) Objective risk
A) Pure risk B) Enterprise risk C) Speculative risk D) Financial risk
A) Risk control B) Risk avoidance C) Risk transfer D) Risk retention
A) II only B) I only C) Neither I nor II D) Both I and II
A) Moral risk B) Risk Appetite C) Diversifiable risk D) Risk exposure
A) Premium pricing B) Diversification C) Product development D) Listing
A) I only B) Neither I and II C) Both I and II D) II only
A) Physical inspections B) Past losses C) Risk analysis questionnaires D) Currency exchange rate
A) Shifting of loss consequences to well-diversified portfolio B) Shifting of loss consequences to third party C) Shifting of loss consequences to wealthy group of people D) Shifting of loss consequences to self-insurance program
A) None of the above B) All of the above C) Risk with two possible outcomes D) Risk at least with one possible
A) Risk Diversification B) Risk Transfer C) Risk Transfer D) Risk Avoidance
A) Neither True or False B) Either True or False C) False D) True
A) Reviewing the risks B) Selecting the best method to handle the risks C) Identifying the risks D) Evaluating the risks
A) Continuing operations after a loss B) Meeting internally imposed obligations C) Reduction of anxiety D) Analysis of the cost of different techniques for handling losses
A) It can be used for any loss exposure facing a firm B) The chance of loss for certain loss exposures may be reduced to zero
A) Risk transfer B) Risk retention C) Risk prevention D) Risk avoidance
A) Risk retention B) Risk transfer C) Risk avoidance D) Risk retention
A) Strategic management errors B) Legal liabilities C) Planning D) Technology issues
A) Data Banking B) Data Collection C) Data Forecasting D) Data Analysis
A) Risk Management Binder B) Risk Management Manual C) Risk Management Manuscript Policy D) Risk Management Policy Statement
A) Theft is a diversifiable risks B) Most individuals in highly industrialized countries carry no insurance C) The Law of Large Numbers is used in Risk Pooling D) Liability Risks are risks associated in with building calamities
A) Assumption risks B) Strategic risks C) Financial risks D) Operational risks
A) Maximum possible losses B) Probable maximum losses C) Severity of losses D) Frequency of loss
A) The risk manager is an important part of a firm's management team B) If a risk management program is properly designed, periodic review of the program is unnecessary C) In order to properly identify the loss exposures, the risk manager needs the cooperation of the departments D) A risk management policy statement can be used to educate top executives about the risk management process |