An executive whose responsibilities include the planning, controlling, preventing, and limiting of business losses and enhancing possibilities for gain is known as a:

Anna is an insurance agent who is working with Tracy, the sole proprietor of a small dental practice, to determine the type of liability insurance she needs. Anna suggests that Tracy needs to purchase insurance that will cover her legal expenses in the event a patient sues her for negligence. What type of liability insurance is Anna advising Tracy to purchase?

Michelle has acquired proof that her coworker Ted has been embezzling money from the company. If Michelle fails to inform her employer about Ted's activities, what will likely occur?

The two dimensions of risk are:

A health food company claims that its products will cure many diseases, but without proof of this claim. When customers realized that the claim was unfounded, the company suffered from a damaged reputation and many lawsuits. The company's behavior is considered to be:

A good source of information about the retroactive risks of a business would be a/an:

In addition to basic homeowner's insurance coverage, insurance agents whose clients live in flood or earthquake zones might suggest that they purchase:

Paulo is a terrible driver and has had many traffic tickets and accidents. What type of insurance will his insurance company have to get for Paulo?

To save money, an automobile manufacturer imported substandard parts resulting in engine fires. The manufacturer is now facing a class-action lawsuit which is an example of a risk associated with:

The insurance industry generates the funds needed to pay the claims of policyholders by:

Which scenario would be an example of a business acting ethically in regards to insurance?

Which is true about a captive agent relationship?

What category of risk typically has the most impact on the ability of a business to reach planned goals and objectives?

If a car in the driveway of a home gets broken into and a laptop is stolen, what type of insurance coverage will pay for the laptop?

Insurance that an insurance company purchases from another insurance company to protect itself from the risk of a major claims event is called:

A primary characteristic of a whole life insurance policy is that it:

To guard against intentional ethical violations, such as deliberate financial data tampering, an organization should maintain:

What is the disadvantage to members who have health insurance coverage through a health maintenance organization (HMO)?

Which is often used to measure and rate potential risks?

C’eri sent out an email to customers several days after her supervisor told her to send it. When her supervisor asked her about it, she said that she was unable to send it when he asked because the network WiFi was down. C’eri is putting her company at risk due to her:

Which statement accurately describes the nature of prospective risks?

Fiona uses her generator to keep her restaurant open during a power outage so she can serve hot meals to the community. She is turning her risk into a strategic advantage by indicating she is:

Which is an unethical activity that relates to risk management?

Bella owns a collection of rare comic books that increase in value every year. She wants to insure them for more than their present value. Bella should purchase:

Which is a potential negative consequence for a business which fails to manage risk by implementing an ethics training program for all employees?

Technological innovations can increase the strategic risk for business by:

A provision in an insurance policy that eliminates coverage for some types of risks is called a/an:

One goal of risk management is to:

A large company that provides insurance and assumes the risk covered in the policies is known as a/an:

Lilly’s Laundry had a washer malfunction that flooded the business, causing it to close for three weeks. What kind of risk is this?

An external financial risk that Martha might face in her watch repair business is:

Which is an example of an insurance agent's misrepresentation to a customer?

An earthquake is an example of which type of risk?

Bradley owns a local hardware store and decides to close early because it is snowing. He is worried that customers might slip and fall around his shop or his employees might wreck their cars driving home. By closing early, how is Bradley handling these risks?

Poor product development, unreliable manufacturing equipment, and product shortages are examples of which type of risk?

Which is an example of a hazard risk?

The term risk is used in business to refer to the:

What can risk managers do to ensure the successful launch of a new product?

An example of an internal financial risk is:

What is the most ethical way for a business to handle its product liabilities?

Emma is reviewing the sales budget in relation to the actual sales generated for a set time frame. Emma is using financial information in this situation to:

Which statement is true about health maintenance organizations (HMOs)?

Without ethical standards, risk management activities can sometimes occur:

Recently, Joseph signed a lease for a new car. Unfortunately, Joseph was involved in an automobile accident, and the car was totaled. Because Joseph's insurance company paid out less than the payoff amount of the lease, Joseph still owes the leasing company several thousand dollars for the car. What type of insurance would have covered Joseph from this type of loss?

Why is it important for a business to review ratings issued by independent agencies before purchasing business insurance?

Which is an example of altering an insurance application?

Which involves a set of relationships between a company’s management, its board, its shareholders, and other stakeholders?

More self-governance in the workplace lessens dependence on managers and supervisors and redirects them to reliance on their coworkers. This will lead to:

People or entities who have a financial interest in a business or can be monetarily affected by the decisions of a business are referred to as:

Tellia works in a local boutique and has been provided a list of how the displays are set up, how clothes are folded and arranged, and how clean the boutique should be. This list is known as:

What establishes and protects the rights and specifies the duties and responsibilities of an organization’s members, board of directors, and executives?

When employees are given independence and expected to be more self-sufficient, they become more efficient over time. This should lead to:

The fundamental legal duty requiring a board member to participate actively in making decisions on behalf of the organization and to exercise his or her best judgment while doing so is referred to as:

A responsibility of a board of directors involves planning expenses vs. revenue and using these numbers to create a projected financial blueprint for the company. This activity is referred to as:

When a company wants to convey what is acceptable and unacceptable regarding the quality of its product, it will develop:

Which principle of corporate governance protects shareholders' rights and makes sure the business treats all shareholders equitably?

Mechanisms put in place to make sure corporate governance will be effective are referred to as:

Vic’s Vinyl Flooring creates its own corporate policies and procedures and controls all levels of the business. This helps it to avoid disasters before they occur and is known as:

The policies and procedures used by the board of directors or owner to manage a corporation are known as:

General, nonmandatory business procedures are:

What are the four principles of corporate governance?

A fundamental challenge faced by many board members is failing to possess a strong understanding of the corporate governance.

Members of a board of directors should refrain from all involvement in any way with a business competitor. This is necessary to avoid a conflict of interest.

The fundamental legal duty requiring a board member to put the interests of the organization before their personal and professional interests when acting on behalf of the organization in a decision-making capacity is the duty of loyalty.

The fundamental legal duty which requires a board member to bear the legal responsibility of ensuring the organization complies with all applicable federal, state, and local laws and adheres to the company mission is referred to as the duty of care.

When employees are disciplined for violating mandatory procedures regarding a specific area or task, it is said that they have violated a company:

When a new employee gets step-by-step instructions on how to carry out a task, it is called:

To operate effectively, small-to-medium-sized businesses may only need:

When employees are treated as an asset and their input is valued, confidence increases among every team member, which greatly improves:

When deciding whether to issue a policy or a guideline, a business should consider the: