PMI-RMP Certification Training - Types of Business and Insurable Risk

The video tutorial discusses different types of business risks, including competitive, legislative, monetary, and operational risks. It also covers insurable risks such as direct and indirect property risks, liability risks, and personal-related risks. Examples are provided to illustrate each type of risk, emphasizing the importance of understanding and managing these risks in business operations.

Which of the following is an example of a competitive business risk?

• A new tax law affecting the industry

• A rival company developing a superior product

• An increase in material costs

• Employee theft

What type of risk involves changes in regulations that may require additional spending to maintain compliance?

• Operational risk

• Monetary risk

• Legislative risk

• Competitive risk

Which of the following is considered a monetary risk?

• Employee injury

• Increased prices for project materials

• Damage to company property

• Fraud within the organization

What is an example of an operational business risk?

• Increased fuel costs

• Fraud within the organization

• A competitor launching a new product

• A change in tax laws

What type of risk involves the need to compensate for damage caused to another party?

• Indirect property risk

• Personal-related risk

• Direct property risk

• Liability risk