1. RiskManagement is a subject which falls under ______________.
a) production
b) HR
c) marketing
d) finance
2. A person employed to do any act for another or to represent another in dealing with a third person
refers to ______________.
a) Principal
b) Employee
c) Agent
d) Development Officer
3. Insurance contract is sort of contract which is approved by ______________.
a) The Indian Contract Act
b) Indian Factory Act
c) Indian Companies Act
d) The Indian finance Act
4. The term Assurance refers to ______________.
a) Life Insurance Business
b) Marine Insurance Business
c) Fire Insurance Business
d) Motor Vehicle Business
5. The first step in risk management process is ______________.
a) Riskavoidance
b) RiskIdentification
c) Insurance
d) RiskEvaluation
6. Which of the following is the last step in the risk management process?
a) Insurance
b) Review
c) Risk evaluation
d) Loss prevention
7. Risk retention means ______________
a) Saving money to pay for the losses
b) Accepting and agreeing to finance the loss oneself
c) Not taking up any activity which is risky
d) Insuring the risk
8. The risk which has three outcomes with possibility of gain is ______________
a) Pure
b) Speculative
c) Static
d) Dynamic
9. The company doing the insurance business is called ______________.
a) Mutual funds
b) Non-banking firm
c) An insurance company
d) Banking company
10. The medias used for direct marketing are
a) Direct Mail
b) Telephone Contacts
c) Kiosks
d) All the above