IC86 RISK MANAGEMENT - 13
| Q1.How is the 'Net Contribution to the company' calculated using any of the following parameters - 1. Gross Profit 2. Net Profit 3. Sales 4. Variable Costs |
| 3+1-4 |
| 3-2 |
| 3-1+4 |
| 3-2-2004 |
| 3-2-2001 |
| Q2.Proper identification and analysis of loss exposures will depend upon three important factors. Which of the following is not one of these three factors? |
| A classification scheme for identifying all possible exposures |
| Employing proper methods |
| Establishing organizational objectives |
| Degree of such exposures in terms of impact on objectives |
| None of the above |
| Q3.What measures the likely probability of a risk actually occurring and its likely quantum of loss if the risk were to actually occur. |
| Risk Prevention |
| Risk Control |
| Risk Evaluation |
| Risk Identification |
| Risk Assessment |
| Q4.___ involves examining the future and drawing up the plan of action. 1. Manage 2. Foresee 3. Organize 4. Compare |
| Only 1 |
| Only 2 |
| Only 3 |
| Only 4 |
| All 1,2,3 and 4 |
| Q5.Identify the features of an EMERGENCY? 1. Emergency leads to gradual disruption of normalcy within society 2. An emergency is caused by natural or manmade causes 3. The damage caused by an emergency is beyond the capacity of normal social and economic mechanisms to cope up with |
| Only 1 |
| Only 2 |
| Both 2 and 3 |
| Both 1 and 3 |
| All 1, 2 and 3 |
| Q6.Technological Advances' is an example of which peril? |
| Human Peril |
| Social Peril |
| Economic Peril |
| Natural Peril |
| Political Peril |
| Q7.Which of the following are included in the word 'management ? 1. Plan 2. Organize 3. Forecast |
| Only 2 |
| Only 1 and 2 |
| Only 2 and 3 |
| Only 1 and 3 |
| All 1, 2 and 3 |
| Q8.A business faces the possibility that it will be held legally liable for property damage or personal injuries suffered by others. This is known as __. |
| Static loss exposure |
| Liability loss exposure |
| Property loss exposure |
| Personal loss exposure |
| Property and personal loss exposure |
| Q9.Identify which of the following options is/are strategies to manage risk - 1. By transfer of risk to some other party 2. By reducing the negative effect of risk 3. By accepting some of the consequences of risk |
| Only 1 |
| Only 3 |
| Both 1 and 2 |
| Both 1 and 3 |
| All 1, 2 and 3 |
| Q10.The process of risk management involves either preventing/minimizing losses or paying for those losses which will inevitably occur. What technique relates to risk financing? |
| Preventing and minimizing losses |
| Paying for the losses |
| Optimizing the losses |
| Both preventing/minimizing losses and paying for those losses |
| Neither preventing/minimizing losses nor paying for those losses |