Risk Management MCQ Multiple Choice Questions Answers - Page 3 for Practice
61. Choosing not to ride in a car is an example of
Correct Answer is: risk avoidance
62. 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
Correct Answer is: district forum, state government
63. Insurance that provides protection for a stated period of time is defined as ..................insurance
Correct Answer is: term
64. ...............risk is defined as the relative variation of actual loss from expected loss
Correct Answer is: Objective risk
65. 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?
Correct Answer is: Term
66. ...............is an essential part of the bailor-baliee relationship
Correct Answer is: The delivery of goods
67. According to ...............model, an insurance company markets its products almost exclusive through the distribution channel of its banking parents
Correct Answer is: the captive model
68. which of the following is the main objective of IRDA
Correct Answer is: all of above
69. When a firm buys insurance to cover losses caused by riots, the firm is
Correct Answer is: transferring
70. A physical hazard is a condition stemming from the material characteristics of an object
Correct Answer is: True Statement
71. Risk management is synonymous with Insurance mangement
Correct Answer is: False Statement
72. ACV stands for actual cash value
Correct Answer is: True Statement
73. The first insurance was established in Anthens
Correct Answer is: True Statement
74. A risk manager can ignore those pure risk that are not insurable
Correct Answer is: False Statement
75. There is no hazards of direct competition to conventional banking products
Correct Answer is: False Statement
76. Without the payment of premium, the insurance contract cannot start
Correct Answer is: True Statement
77. To be insurable, a risk must have potential losses that are
Correct Answer is: predictable
78. Risks that insurance firms will not assume are called
Correct Answer is: uninsurable risks
79. Which of the following is not a condition for an insurable loss?
Correct Answer is: Establishing a self-insurance health program that covers all employees
80. A type of insurance that combines protection with an investment plan is called
