INS200 Workshop Quiz

Hazard is ______

• A reduction or disappearance of economic value

• A condition that increases the chance of loss

• A condition that decreases the chance of loss

• An uncertainty

The probability theory that is possible to be measured accurately is under the category of_______________

• Empirical probability

• Judgemental probability

• Priori probability

• Uncertainty

Which is NOT the types of loss associated with the destruction or theft of property?

• Direct loss

• Major loss

• Indirect loss

• Extra expenses

Siti always feels very uneasy about traveling by air compared to by land.

• Familiarity

• Personal or societal effect

• Control

• Frequency and severity

“An electronic producer has its manufacturing and assembly plant detached from its administrative and corporate office”.

• Risk transfer

• Risk control

• Insurance

• Separation

Published data, government data and databases are the examples of:

• Variance

• Statistical data

• Secondary data

• Primary data

Risk transfer mechanism is a ________ function of insurance.

• tertiary

• primary

• indirect

• secondary

Which of the following is a non-financial risk management technique?

• retention

• risk avoidance

• captive insurer

• insurance

Particular risk is a risk that affects particular individuals, such as _______.

• Flood or thyphoon

• Robbery or vandalism

• Investments

• Earthquakes

Tsunami hit Japan has caused thousands of people lost their homes and life. The category of risk is:

• Speculative Risk

• Particular Risk

• Financial Risk

• Fundamental Risk