Embark on an insightful journey through the realm of Risk Management with our comprehensive collection of multiple-choice questions and answers. Whether you're a risk management professional seeking to enhance your skills, a student studying risk management concepts, or a business owner looking to mitigate potential threats, our repository offers invaluable insights. Explore topics such as risk identification, risk assessment, risk mitigation strategies, risk monitoring, and risk communication. Each multiple-choice question is meticulously crafted to challenge your understanding and stimulate critical thinking about the intricacies of managing risks effectively. From understanding different types of risks to mastering risk assessment techniques and implementing risk control measures, our MCQs provide a comprehensive exploration of all facets of Risk Management. Start exploring today to deepen your knowledge and excel in navigating uncertainties in various domains!
1. In ...............or ............... method a fixed share or quota of the risk is reinsured
2. ...............happen when an insurance company has undertaken more risk burden on its shoulders than its bearing capacity. ................... is a device to reduce the risk
3. ...............refers to the cause of loss or the contingency that may cause a loss
4. When a jewelry store locks its merchandise in a vault at the end of the day, it is practicing
5. Which risk-management technique does self-insurance satisfy?
6. A broken window pane is evidence of a
7. Choosing not to ride in a car is an example of
8. A consumer disputes redressal forum to be known as the ...............to be established by the ...............with the prior approval of the central government in each district of the state
9. Insurance that provides protection for a stated period of time is defined as ..................insurance
10. ...............risk is defined as the relative variation of actual loss from expected loss
11. What type of life insurance policy would you recommend for a young couple, with no children, that would provide the most protection for the smallest premium?
12. ...............is an essential part of the bailor-baliee relationship
13. According to ...............model, an insurance company markets its products almost exclusive through the distribution channel of its banking parents
14. which of the following is the main objective of IRDA
15. When a firm buys insurance to cover losses caused by riots, the firm is
16. A physical hazard is a condition stemming from the material characteristics of an object
17. Risk management is synonymous with Insurance mangement
18. ACV stands for actual cash value
19. The first insurance was established in Anthens
20. A risk manager can ignore those pure risk that are not insurable
21. There is no hazards of direct competition to conventional banking products
22. Without the payment of premium, the insurance contract cannot start
23. To be insurable, a risk must have potential losses that are
24. Risks that insurance firms will not assume are called
25. Which of the following is not a condition for an insurable loss?
26. A type of insurance that combines protection with an investment plan is called
27. The general insurance corporation is holding company, which has ...............subsidiary companies
28. LIC (Mauritius) ltd. Was set in ...............
29. The idea of insurance ombudsman was mooted in the year
30. Insurance Ombudsman is open to all individuals whose claim amount is less than
31. 1) Active risk retention means that the firm is aware of the loss exposure and plans to retain a part or all of it. 2) Passive retention however is the failure to identify a loss exposure, failure to act. Which of the above statement is not correct.
32. Which of the following are the principles of Risk Manangement. 1. Principle of risk identification 2. Principle of risk ananlysis 3. Principle of Risk assessment 4. Principle of Risk Control.
33. Which type of insurance policy will protect a business from theft and forgery by its employees?
34. A method for reducing the cost of health care by offering the services of doctors and hospitals at discount rates or giving breaks in co-payments and deductibles is offered by
35. Higher the percentage of ...............in GDP , lower the insurance penetration
36. ...............contract means that only one party makes a legally enforceable promise
37. Purchasing insurance is a technique used to
38. Dr. Robins chose to stop practicing when malpractice insurance premiums became too high for him to afford. He is managing risk by .................. risk
39. Collision insurance is a type of
40. Bailment is an agreement between a person ...............who owns or lawfully possesses goods and another person ,............... who is given possession of the goods for a specific purpose
41. Upon the death of the insured, who receives the proceeds of the life insurance policy?
42. ...............is a memorandum specifying some of the details of the property or liability policy to be issued by the company
43. 1) One of the most important reason for considering bancassurance by bank is increased ROA. 2) Insurers operate through bansassurance, own and control relationships with customers.Which of the above two statement is not correct.
44. Unemployment can result from:
45. Most firms shift their risks by
46. Which of the following is the challenge for bancassurance in India
47. The consent will be free when it is not caused by
48. Which type of insurance covers damage or injury caused by a vehicle with no liability insurance coverage?
49. A contract of ............... means the insured must accept the entire contract, with all of its items and conditions
50. ...............helps lower the cost of insurance as well as increase its availability
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