Personal Risk Management

Fill in the blanks. Risk is the potential of ______ something of value.

• losing

• gaining

• ignoring

• creating

Fill in the blanks. Safety risk is a hazard which has a potential ______ of harm or adverse health effect on a person or persons.

• risk

• benefit

• chance

• certainty

Which of the following is NOT a way to manage risk?

• Risk avoidance

• Risk transfer

• Risk reduction

• Risk increase

What does risk retention involve?

• Transferring the risk to a third-party entity

• Accepting the risk

• Sharing the risk with a group

• Eliminating the risk

Insurance is a social device providing financial compensation for the effects of _______.

• misfortune

• wealth

• success

• happiness

In many states, drivers are required by law to have basic auto insurance that covers ________.

• liability for injuries and damages to others

• theft of personal belongings inside the car

• routine maintenance and repairs

• fuel costs

What does uninsured motorist protection cover?

• Costs if an individual is involved in a car accident with an uninsured driver

• Damage to the policy holder’s car in an accident

• Physical damage as a result of a non-collision incident

Fill in the blank: Health insurance is important because it protects individuals _________.

• financially

• physically

• emotionally

• socially

Which type of insurance helps pay for expenses after an accidental injury?

• Basic health insurance

• Vision care insurance

• Accident insurance

• Long-term care insurance

Life insurance is a type of insurance which pays out a sum of money upon the ______ of the insured person.

• death

• birth

• marriage

• retirement