Risk Management Flashcard

Risk Management Flashcard

Assessment

Flashcard

Business

9th - 12th Grade

Practice Problem

Easy

Created by

Wayground Content

Used 3+ times

FREE Resource

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9 questions

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1.

FLASHCARD QUESTION

Front

Identifying potential business risks and attempting to avert them is known as _________________.

Back

Risk Management

2.

FLASHCARD QUESTION

Front

Situations that cannot be avoided, but can be minimized by purchasing insurance or creating a risk management plan are known as _________________.

Back

Controllable Risks, Controllable Risk

3.

FLASHCARD QUESTION

Front

Situations that cannot be predicted or covered by purchasing insurance are known as ___________________.

Back

Uncontrollable Risks, Uncontrollable Risk

4.

FLASHCARD QUESTION

Front

____________________ is caused by acts of nature. This is a controllable risk and insurance can help recover from losses (flood, fire, storm, freeze, drought).

Back

Natural Risk

5.

FLASHCARD QUESTION

Front

__________________ occurs when business activities suffer due to changes in the US or world economy. Local, national, and world economic and political conditions can affect the success of a business; it is very hard to predict and is, therefore, uncontrollable.

Back

Economic Risk

6.

FLASHCARD QUESTION

Front

_________________ is the potential that the target market for new goods and services is much less than originally projected. This is an uncontrollable risk.

Back

Market Risk

7.

FLASHCARD QUESTION

Front

____________________ is a negative situation caused by the actions of people (shoplifting, embezzlement, and use of stolen credit cards). This includes risk caused by employees such as fraudulent behavior. Some of these risks are controllable and insurable.

Back

Human Risk

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