Risk Management MCQ Questions and Answers Quiz

51. Which type of coverage pays for damages intentionally caused by another person, such as breaking a windshield in a parking lot?

  1. Property damage liability coverage
  2. Comprehensive coverage
  3. Collision insurance
  4. Product liability coverage

52. defective products is an example of which loss exposure

  1. property loss exposure
  2. human resource loss exposure
  3. crime loss exposure
  4. liability loss exposure

53. The law of large numbers can be applied more easily to ...............than speculative risk

  1. Pure Risk
  2. Objective Risk
  3. Acceptable Risk
  4. Subjective Risk

54. A lien can be placed on ones income and financial assets to satisfy a legal judgment. This results in ...............

  1. pure risk
  2. liability risk
  3. dynamic risk
  4. acceptable risk

55. In ...............or ............... method a fixed share or quota of the risk is reinsured

  1. Quota or fixed share treaty
  2. excess of loss or quota
  3. fixed share or surplus treaty
  4. none of above

56. ...............happen when an insurance company has undertaken more risk burden on its shoulders than its bearing capacity. ................... is a device to reduce the risk

  1. reinsurance, reinsurance
  2. double insurance, reinsurance
  3. double insurance , double insurance ,
  4. reinsurance, double insurance

57. ...............refers to the cause of loss or the contingency that may cause a loss

  1. Risk
  2. Peril
  3. Danger
  4. Hazards

58. When a jewelry store locks its merchandise in a vault at the end of the day, it is practicing

  1. risk reduction
  2. risk avoidance
  3. risk assumption
  4. risk shifting

59. Which risk-management technique does self-insurance satisfy?

  1. Risk reduction
  2. Risk assumption
  3. Risk avoidance
  4. Shifting risks

60. A broken window pane is evidence of a

  1. robbery
  2. larceny
  3. burglary
  4. theft
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