What is the definition of risk?
Chapter 14 & 15

Quiz
•
Business
•
11th Grade
•
Medium
Used 3+ times
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18 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The potential for growth and development
The likelihood of success and prosperity
The possibility of gain, benefit, or advantage
The possibility of loss, damage, or injury
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which type of risk is caused by acts of nature?
Natural risk
Neutral risk
Economic risk
Market risk
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the process of evaluating the risk and finding ways to minimize or manage loss called?
Insurance assessment
Liability avoidance
Risk management
Risk allowance
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the document that defines the type of losses covered by an insurance policy?
Insurance deductible
Insurance claim
Insurance policy
Insurance premium
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the amount the insured is responsible for paying when a claim is made?
Insurance claim
Insurance premium
Insurance policy
Insurance deductible
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the exchange of one good or service for another called?
Barter
Trade-off
Banknote
Money exchange
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following are properties of money?
Portable
Durable
Recognizable
All of the above
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