1. The number of prime elements of risk analysis is ______________.
a) one
b) Two
c) Three
d) Four
2. The identification analysis and economic control of those risk which can threaten the assets or
earning capacity of an enterprise is known as ______________.
a) Business Management
b) Risk Management
c) Financial Management
d) Strategic Management
3. The uncertainty reduced through diversification and investing in information is known as
______________
a) Cost of Residual Uncertainty
b) Cost of Loss Financing
c) Cost of Loss Control
d) Cost of Internal Risk Reduction
4. If RMIS shows inflexibility of system then provide ______________.
a) solid vendor account team
b) clear and comprehensive specifications
c) internal access to system expert
d) standard software configuration
5. Risk management information is not useful in one of the following ______________.
a) Reporting
b) Hedging
c) Claim adjustment process reviews
d) Derivatives
6. Which of the following is the last step in risk management process ______________.
a) Insurance
b) Review
c) Risk evaluation
d) Loss prevention
7. The Principle of Indemnity does not apply to ______________.
a) Burglary Insurance
b) Fire Insurance
c) Marine Insurance
d) Life and personal accident insurance
8. Except life assurance the maximum term of other insurance is ______________.
a) 12 months
b) 24 months
c) 6 months
d) 36 months
9. ______________ are those terms, which are written on the policy.
a) Express Warranties
b) Implied Warranties
c) Memorandum Warranties
d) Valuation Clause
10. ______________ policy issued on the basis of the number of persons assured
a) Annuity policy
b) Multiple life policy
c) Single life policy
d) Level of premium policy