Introduction to Business

Section 2: Handling Risk

Self-Checks

1
There are _______ ways to handle risk.
A)two
B)four
C)three
D)five
2
_______ risk involves thinking about the consequences of decisions.
A)Avoiding
B)Retaining
C)Reducing
D)Transferring
3
Educating employees about the safe use of equipment is an example of _______ risk.
A)avoiding
B)retaining
C)reducing
D)transferring
4
Bearing financial responsibility for the consequences of loss is called risk _______ .
A)conservation
B)preservation
C)maintenance
D)retention
5
Insurance provides a way to _______ risk.
A)avoid
B)retain
C)reduce
D)transfer
6
The price an insured business pays for insurance protection for a specified time is called a _______ .
A)fee
B)premium
C)payment
D)rate
7
Anything that may possibly cause a loss is called a _______ .
A)hazard
B)peril
C)liability
D)risk
8
Insurance that offers financial protection for family members after someone dies is called _______ insurance.
A)disability
B)life
C)liability
D)health
9
Workers who are injured on the job are protected by workers' _______ insurance.
A)accident
B)comprehensive
C)compensation
D)liability
10
Anything that increases the likelihood of loss through peril is called a _______ .
A)hazard
B)problem
C)nuisance
D)threat
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