Marketing Essentials

Chapter 34: Risk Management

Self-Checks

1
What is risk management?
A)The systematic process of managing an organization’s risks
B)The systematic process of managing an organization’s natural risks
C)The systematic process of managing an organization’s human risks
D)The systematic process of managing an organization’s risk against theft
2
What is an example of a natural risk?
A)Theft
B)Economic risks
C)A hurricane
D)Computer crime
3
Two examples of human risks are
A)Theft and computer crime
B)Life loss during hurricanes and earthquakes
C)A change in the market place that causes people to spend less
D)None of the above
4
What is an insurance policy?
A)A form of risk transfer
B)A way to control employee theft
C)A form of risk retention
D)A form of risk avoidance
5
What is the difference between a performance bond and a fidelity bond?
A)Fidelity bonds protect businesses against employee dishonesty whereas performance bonds provide financial protection while business construction is going on
B)Fidelity bonds protect businesses against employee dishonesty whereas performance bonds are a form of life insurance
C)Fidelity bonds protect businesses against natural risks whereas performance bonds provide insurance against employee dishonesty
D)None of the above
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