
Risk Management Quiz
Authored by WAN MAHMOOD
Financial Education
University
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30 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following best defines risk?
The probability of gaining a profit
The possibility of loss or uncertainty about outcomes
The assurance of loss occurrence
The ability to predict future events
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A peril can best be described as:
Anything that increases the chance of loss
The direct cause of loss
A moral defect in an individual
A measurable financial outcome
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A faulty wiring system in a building is an example of a:
Morale hazard
Moral hazard
Physical hazard
Psychological hazard
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a type of pure risk?
Investment in shares
Risk of unemployment
Speculation on gold price
Currency exchange risk
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which type of probability relies on historical data and the law of large numbers?
A priori probability
Empirical probability
Judgmental probability
Theoretical probability
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following statements best describes risk management?
A random process of dealing with uncertainty
A systematic approach to identifying, measuring, and controlling risk
A method of increasing business profits
A process of avoiding all possible risks
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
From an Islamic perspective, risk management should:
Focus solely on profit maximization
Ignore external uncertainty
Align goals with Shariah principles
Encourage speculative activities
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