Podcast
Questions and Answers
Which type of risk is characterized by a potential gain as one of the outcomes?
Which type of risk is characterized by a potential gain as one of the outcomes?
- Non-diversifiable risk
- Diversifiable risk
- Speculative risk (correct)
- Pure risk
What type of risk is associated with a person's income being reduced or additional expenses being incurred?
What type of risk is associated with a person's income being reduced or additional expenses being incurred?
- Longevity risk
- Risk of unemployment
- Risk of premature death
- Personal risk (correct)
Which of the following risks is an example of a more serious risk that could lead to permanent disability or death?
Which of the following risks is an example of a more serious risk that could lead to permanent disability or death?
- Risk of fever
- Risk of unemployment
- Risk of illness (correct)
- Risk of poor health
What type of risk is characterized by a loss of income due to the death of a breadwinner?
What type of risk is characterized by a loss of income due to the death of a breadwinner?
Which of the following risks is not a type of personal risk?
Which of the following risks is not a type of personal risk?
Which of the following risks is an example of a risk that can be mitigated through insurance?
Which of the following risks is an example of a risk that can be mitigated through insurance?
What is the primary consequence of a firm experiencing losses due to any of the identified perils?
What is the primary consequence of a firm experiencing losses due to any of the identified perils?
What is the term for the risk of a firm being sued by a third party?
What is the term for the risk of a firm being sued by a third party?
Which type of risk is illustrated in the example of a customer slipping and falling in a business premises?
Which type of risk is illustrated in the example of a customer slipping and falling in a business premises?
What is the primary consequence of a manufacturing firm experiencing a fire in its plant?
What is the primary consequence of a manufacturing firm experiencing a fire in its plant?
What is the term for the risk of injury or illness to employees or death or disability to key persons in a business?
What is the term for the risk of injury or illness to employees or death or disability to key persons in a business?
Which type of risk is illustrated in the example of theft by employees or misuse of company funds by owners or employees?
Which type of risk is illustrated in the example of theft by employees or misuse of company funds by owners or employees?
What is the main consequence of a factory's inability to operate as usual?
What is the main consequence of a factory's inability to operate as usual?
What is the peril in the case of a fireman sustaining burns while on duty?
What is the peril in the case of a fireman sustaining burns while on duty?
What type of hazard is a worn out tire on a car?
What type of hazard is a worn out tire on a car?
What is an example of moral hazard?
What is an example of moral hazard?
What is the primary goal of loss prevention?
What is the primary goal of loss prevention?
What type of hazard is an individual's careless attitude that increases the severity or frequency of a loss?
What type of hazard is an individual's careless attitude that increases the severity or frequency of a loss?
