تأمين شابتر 3 hamoda bzour
Risk Management Quiz
Test your knowledge on risk management with this comprehensive quiz designed for students and professionals alike. This quiz covers key concepts in risk management, from loss exposure identification to financial strategies.
- Multiple choice questions
- Relevant for students and practitioners
- Understand critical risk management processes
1- ………………..is a process that identifies loss exposures faced by an organization and selects the most appropriate techniques for treating .
A) Risk Management
B) loss exposure.
C) loss avoidance
D) peril.
2- …………… is any situation or circumstance in which a loss is possible ,
Risk Management
Loss exposure.
Loss avoidance
Peril
3- Preloss objectives of risk management include ALL of the following EXCEPT
A) Prepare for potential losses in the most economica
B) continuing operations after a loss
C) reduction of anxiety.
D) meeting externally imposed obligations
4- Post-loss objectives of risk management include ALL of the following EXCEPT
A) Survival of the firm
B) Continue operating
C) Stability of earning
D) meeting externally imposed obligations
5- In Risk Management Process we can’t Measure and analyze the loss exposures
A ) TRUE
B ) FALSE
6- Risk Managers have several sources of information to identify loss exposures Such as:
A ) Financial statements
B ) currency exchange rates.
C )Historical loss data
D ) A + C
7- Industry trends and market changes cant create new loss exposures
A ) TRUE
B ) FALSE
8- Loss severity refers to the probable --------- of the losses that may occur
A) size of the losses
B) number of losses
C) size and number of losses
D) non of above
9- The probable maximum loss the worst loss that could happen to the firm during its lifetime
A ) TRUE
B ) FALSE
10- Risk control refers to techniques that reduce just the severity of losses
A ) TRUE
B ) FALSE
11- The chance of loss is reduced to zero in
A) avoidance
B) retention.
C) noninsurance transfer.
D) insurance transfer
12- installing safety features on hazardous products is example of :
A) avoidance
B) Loss prevention
C) noninsurance transfer.
D) Loss reduction
12- installing an automatic sprinkler system is example of :
A) avoidance.
B) Loss prevention
C) noninsurance transfer
D) Loss reduction
13- Duplication means dividing the assets exposed to loss to minimize the harm from a single even
A ) TRUE
B ) FALSE
14- All of the following is Methods of risk financing EXCEPT
A ) Retention
B ) Non-insurance Transfers
C ) Commercial Insurance
D ) Non of above
15- Retention is effectively used when other method of treatment is available
A ) TRUE
B ) FALSE
17- is the dollar amount of losses that the firm will retain
A) The retention level
B) Loss prevention
C) noninsurance transfer.
D) Loss reduction
18 - A risk manager has several methods for paying retained losse
A ) Current net income
B ) Unfunded reserve account
C ) Funded reserve
D ) ALL TE ABOVE
19 - Reasons for forming a captive include
D ) B + C
C ) Costs may be lower than purchasing commercial
B ) To take advantage of a favorable regulatory environment
A ) The parent firm may have easier obtaining insurance
20- Advantages of Non-insurance Transfers is high expensive
A ) TRUE
B ) FALSE
21) refers to the probable number of losses that may occur during some time period
A) The retention level
B) Loss severity
C) noninsurance transfer.
D) Loss frequency
22 ) is an insurer owned by a parent firm for the purpose of insuring the parent firm’s loss exposures
A ) single-parent captive
B ) captive insurer
C ) association or group captive
D ) Avoidance
23 ) Retention is effectively used when :
A ) other method of treatment is unavailable
B ) The worst possible loss is not serious
C ) Losses are highly predictable
D ) all of the above
24 ) Insurance is appropriate for ............ probability , ……………. Severity loss exposures
A ) low , high
B ) high , low
C ) low , low
D ) high , high
25 ) is defined as the relative variation of actual loss from expected loss
A) objective risk
B) subjective risk
C) objective probability
D) subjective probability
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