Personal Risk Management

Which of the following is NOT a characteristic of risk?

• Potential

• Definite

• Uncontrollable

• Unpredictable

Wearing a seat belt, helmet or knee pads prevents people from which of the following types of risk?

• disciplinary risk

• safety risk

• financial risk

• relationship risk

Completely staying away from an activity which poses a potential risk is

• risk avoidance

• risk transfer

• risk acceptance

• risk reduction

The idea of lessening the extent of possibility of a loss is

• risk retention

• risk avoidance

• risk reduction

• risk transfer

The possibility of loss, either assets or earning potential or both is known as

• safety risk

• financial risk

• insurance

• risk identity

This is the movement of a risk to a third party entity

• risk transfer

• risk avoidance

• risk retention

• risk reduction

Type of insurance coverage which pays for medical and surgical expenses

• Property Insurance

• Auto Insurance

• Life Insurance

• Health Insurance

Type of insurance which covers the costs associated with an auto accident or other vehicle damage

• Renter's Insurance

• Auto Insurance

• Health Insurance

• Property Insurance

A financial product purchased by many people facing a similar risk to protect against the risk of larger losses

• Premium

• Policy

• Insurance

• Risk

• Deductible

Liability insurance covers accidental harm that may be caused to other people or property.

• True

• False