IC86 RISK MANAGEMENT - 01
| Q1.Under which, risk category does Risk of ill health, Risk of unemployment, and Risk of early death fall? |
| Fundamental Risk |
| Static Risk |
| Pure Risk |
| Physical Risk |
| Personal Risk |
| Q2.Which risks are associated with groups, impersonal in origin and effect and these risks are in the form of political or Economic changes happening to a group? |
| Fundamental Risk |
| Pure Risk |
| Particular Risk |
| Static Risk |
| Speculative Risk |
| Q3.Identify in which ways revenues may get reduced as a result of an accidental loss to the property? 1. There is a reduction in receivables 2. There is a loss of rent 3. There are interruptions in operation |
| Only 2 |
| Both 1 and 2 |
| Both 2 and 3 |
| Both 1 and 3 |
| All 1,2 and 3 |
| Q4.Protected cell companies and Rent-a-captives are examples of __. |
| Finite Risk |
| Transferred Risk |
| Contingent capital |
| Self-insurance |
| Captives |
| Q5.When catastrophe strikes, the firm is prepared to take decisive timely action and clear communications to all stakeholders and media about those actions and does initiate and complete those actions and communications effectively'. Which type of procedure is this? |
| Catastrophic Risk Transfer |
| Active Catastrophic Risk Management |
| Stress Testing |
| Extreme Contingency Planning |
| Catastrophe Business Integration |
| Q6.__ activity/activities are conducted at the Risk Treatment stage. 1. Risk Elimination 2. Risk Reduction 3. Risk Transfer |
| satin kaftan full size Only 1 and 2 |
| Only 2 and 3 |
| Only 1 and 3 |
| Only 1 |
| All 1,2 and 3 |
| Q7.Identify the process which involves trend analysis, stress testing, contingency planning, active catastrophic risk management, catastrophic risk transfer to anticipate the potential disasters which could destroy the organization for the purpose of developing alternate contingency plans. |
| Risk management culture |
| Damage risk management advantage |
| Strategic risk management |
| Catastrophic risk management |
| Risk control |
| Q8.The following activities form a part of 'Risk Mitigation Activities'. Arrange them in the correct sequence. 1. Select Control 2. Priorities actions 3. Assign responsibility 4. Develop implementation plan |
| 4, 3, 1, 2 |
| 2, 1, 3, 4 |
| 3, 2, 4, 1 |
| 2, 3, 4, 1 |
| 1, 3, 4, 2 |
| Q9.Which of the following is NOT an element of an effective risk management programme? |
| Eliminating Risks |
| Controlling Programme |
| Setting Objectives |
| Defining responsibilities of the risk manager |
| None of the above |
| Q10.As per the international standards, which of the following situations requires updating a business plan / business continuity management plan? 1. When there is a change in contractors and suppliers 2. When there is a change in location 3. When resources changes |
| Only 3 |
| Both 1 and 2 |
| Both 2 and 3 |
| Both 1 and 3 |
| All 1, 2 and 3 |