Insurance and Risk Management MCQS WITH ANSWERS

 

Insurance and Risk Management

61. The cause of loss or a contingency that may cause a loss due to nature is known as ______________

1. Hazard
2. Peril
3. Risk
4. Uncertinity

Correct answer: (B)
Peril

62. The risk which directly affects the individual's capability to earn income is called ______________

1. Personal Risk
2. Risk Financing
3. Risk Retention
4. Risk Sharing

Correct answer: (A)
Personal Risk

63. Type of Risk Management are ______________

1. Risk Retention,Risk Analysis,Risk Financing
2. Risk Analysis,Risk Control,Risk Financing
3. Risk Control,Risk Retention,Risk Avoidance
4. Risk Analysis,Risk Control,Risk Financing

Correct answer: (D)
Risk Analysis,Risk Control,Risk Financing

64. The Risks which have some financial impact from the part of risk management are ______________

1. Dynamic and Speculative Risk
2. Pure and Speculative Risk
3. Pure and Static Risk
4. Personal and Static Risk

Correct answer: (B)
Pure and Speculative Risk

65. The measures aimed at avoiding, eliminating or reducing the chances of loss producing events is covered by ______________.

1. Risk Avoidance
2. Risk Control
3. Risk Evaluation
4. Risk Financing

Correct answer: (B)
Risk Control

66. Identification of sources of hazard will have to be done by the ______________.

1. Production manager
2. Risk manager
3. Finance manager
4. General manager

Correct answer: (A)
Production manager

67. The expected value of losses varies directly with the ______________.

1. time period
2. financial period
3. fixed period
4. fluctuating period

Correct answer: (A)
time period

68. The number of elements of uncertainty in most type of events are ______________.

1. Three
2. Two
3. One
4. Five

Correct answer: (B)
Two

69. Personnel risk in a firm depends upon the ability integrity and enthusiasm of ______________.

1. Creditors
2. Debtors
3. Government
4. Management and Employees

Correct answer: (D)
Management and Employees

70. Except life assurance the maximum term of other insurance is ______________.

1. twelve months
2. twenty four months
3. six months
4. thirty six months

Correct answer: (A)
twelve months

MCQs With Answers

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