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Professional Development, Business
9th -
12thgrade
BUSSHART KM - RISK MANAGEMENT & INSURANCE
10 questions
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- 1. Multiple Choice
What is the process of anticipating possible problems and putting plans in place to cope with certain risks if they become real?
Risk adjustment
Risk management
Risk tolerance
Risk abatement
- 2. Multiple Choice
Insurance involves the transfer of what to a third party?
Safety
Time
Cost
Risk
- 3. Multiple Choice
What is the term used for a table of statistical data that shows the likelihood of a risk, such as death, occurring to an individual in a certain profile?
Risk aversion
Actuarial table
Death table
Statistical table
- 4. Multiple Choice
What is the name given to a policy that combines all of a business's insurance policies?
Business owner's policy
Combined policy
Aggregate policy
Total policy
- 5. Multiple Choice
What do we call the dollar amount calculated by the insurance company to represent the cost of replacing your property with new items of the same type and quality?
Replacement cost
Risk cost
Substitution cost
Cash value
- 6. Multiple Choice
Insurance policies work for insurers because they help do what to their risks?
Accept
Mitigate
Spread
- 7. Multiple Choice
When a business experiences a financial loss (like a fire), they will not get the financial support they need from their insurance company until they file a:
Tax return
Claim
Complaint with fire marshal
- 8. Multiple Choice
True or False: A person's occupation has an impact on their monthly health insurance premiums.
T
F
- 9. Multiple Choice
True or False: A person's age has an impact on their monthly health insurance premiums.
T
F
- 10. Multiple Choice
When a business looks to file a claim to recoup the loss of property for a business, they typically choose which option?
Replacement cost option
Cash value option
Either of the options listed above
Neither of the options listed above
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