Risk Management in Business Management : Practice MCQ Questions & Answers with Explanations

A risk manager can ignore those pure risk that are not insurable

The first insurance was established in Anthens

ACV stands for actual cash value

Risk management is synonymous with Insurance mangement

A physical hazard is a condition stemming from the material characteristics of an object

When a firm buys insurance to cover losses caused by riots, the firm is

which of the following is the main objective of IRDA

According to ...............model, an insurance company markets its products almost exclusive through the distribution channel of its banking parents

...............is an essential part of the bailor-baliee relationship

What type of life insurance policy would you recommend for a young couple, with no children, that would provide the most protection for the smallest premium?

...............risk is defined as the relative variation of actual loss from expected loss

Insurance that provides protection for a stated period of time is defined as ..................insurance

A consumer disputes redressal forum to be known as the ...............to be established by the ...............with the prior approval of the central government in each district of the state

Choosing not to ride in a car is an example of

A broken window pane is evidence of a

Which risk-management technique does self-insurance satisfy?

When a jewelry store locks its merchandise in a vault at the end of the day, it is practicing

...............refers to the cause of loss or the contingency that may cause a loss

...............happen when an insurance company has undertaken more risk burden on its shoulders than its bearing capacity. ................... is a device to reduce the risk

In ...............or ............... method a fixed share or quota of the risk is reinsured