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WorksheetsRisk Mgt
Total questions: 15
Worksheet time: 11mins
These risk are random (can happen to anyone) and result in loss (no gain)
Pure risk
Speculative risk
Economic risk
Insurable risk
What kind of risk on this type of example: Accidents resulting in physical injury and damage to property
Pure risk
Speculative risk
Economic risk
Insurable risk
It is not accidental or random, and may result in either gain or loss, you cannot protect yourself from losses in a traditional manner.
Speculative risk
Pure risk
Economic risk
Insurable risk
This risk may result in gain or loss because of changing economic conditions.
Economic risk
Pure risk
Speculative risk
Insurable risk
It is a pure risk that is faced by large number of people and for which the amount of loss can be predicted.
Insurable risk
Pure risk
Economic risk
Speculative risk
It is any financial interest in life or property such that, if the life or property were lost or harmed, the insured would suffer financially
insurable interest
Economic interest
Pure interest
Speculative interest
What type of insurable risk that pertain to the chance of loss involving your income and standard of living.
Personal risk
Property risk
Liability risk
Automatic risk
What type of insurable risk that pertain to the chance of loss or harm to personal or real property.
Property risk
Personal risk
Liability risk
Automatic risk
This risk is a is the chance of loss that may occur when your errors of actions result in injuries to other or damages to their property..
Liability risk
Personal risk
Property risk
Automatic risk
It means putting the policy holder back in the same financial condition he or she was is before the loss incurred.
Indemnification
Safe risk
personal risk
Financial risk
It is an organized strategy for controlling financial loss from pure risks and insurable risks.
Risk management
Risk assessment
Risk plan
Risk avoidance
A technique in handling risk, occurs when you buy insurance to cover financial losses.
Risk Shifting
Risk avoidance
Risk reduction
Risk assumption
A technique in handling risk that lowers the chance for loss by not doing the activity that could result in a loss.
Risk avoidance
Risk Shifting
Risk reduction
Risk assumption
A technique in handling risk,that lowers the chance of loss by taking measures to lessen the frequency or severity of losses that may occur.
Risk reduction
Risk assumption
Risk shifting
Risk avoidance
It is the process of accepting the consequences of risk
Risk Assumption
Risk avoidance
Risk reduction
Risk shifting
