Podcast
Questions and Answers
What was one of the earliest methods of reducing risk for shippers?
What was one of the earliest methods of reducing risk for shippers?
- Transferring all risk to moneylenders
- Paying high premiums to insurance companies
- Hiring more security personnel for cargo protection
- Pooling the risk amongst all shippers (correct)
What did the Code of Hammurabi allow in terms of risk transfer?
What did the Code of Hammurabi allow in terms of risk transfer?
- Transfer of risk from moneylenders to merchants
- Transfer of risk from merchants to other merchants
- Complete exemption from any risk for merchants
- Transfer of risk from merchants to moneylenders (correct)
What did Chinese merchants do to pool their risk of loss when moving cargo down rapid rivers?
What did Chinese merchants do to pool their risk of loss when moving cargo down rapid rivers?
- Transferred all risk to moneylenders
- Insured their cargo with specialized companies
- Avoided transporting cargo through rapid rivers
- Pooled their risk of loss (correct)
What did Phoenicians and Greeks allow shipowners and merchants to pledge as collateral for loans?
What did Phoenicians and Greeks allow shipowners and merchants to pledge as collateral for loans?
What was a common concern for shippers using waterways as a means of transport?
What was a common concern for shippers using waterways as a means of transport?
What was one of the earliest forms of insurance in regards to shipping goods?
What was one of the earliest forms of insurance in regards to shipping goods?
What did the Code of Hammurabi allow in terms of risk transfer for merchants?
What did the Code of Hammurabi allow in terms of risk transfer for merchants?
What was a common concern for shippers using waterways as a means of transport?
What was a common concern for shippers using waterways as a means of transport?
What did Phoenicians and Greeks permit shipowners and merchants to pledge as collateral for loans?
What did Phoenicians and Greeks permit shipowners and merchants to pledge as collateral for loans?
What was an early method used by Chinese merchants to reduce the risk of moving cargo down rapid rivers?
What was an early method used by Chinese merchants to reduce the risk of moving cargo down rapid rivers?
