Entrepreneurship: Building a Business

Chapter 22: Risk Management

Chapter Practice Tests

1
_______________risk is inherent to the business.
A)Inflation
B)Speculative
C)Pure
D)Income
2
__________is the most common retail crime.
A)Burglary
B)Employee theft
C)Robbery
D)Shoplifting
3
The act of breaking into and entering a building with the intent to commit a felony is called_________.
A)trespassing
B)burglary
C)shoplifting
D)robbery
4
____________involves taking property by force or threat.
A)Burglary
B)Trespassing
C)Felony
D)Robbery
5
One method a business can employ to reduce stolen credit cards is by using___________.
A)electronic credit authorizer machines
B)two-way mirrors
C)security guards
D)computers
6
Computer____________penetrate the security of computer systems for mischievous purposes.
A)viruses
B)bugs
C)hackers
D)spam
7
______________is the failure to exercise reasonable care.
A)Omission
B)Oversight
C)Laziness
D)Negligence
8
_____________is preventing or reducing business loss.
A)Liability management
B)Risk management
C)Casualty management
D)Insurance
9
A/An____________is the price of insurance an insured person or business pays for a specified risk.
A)premium
B)incentive
C)commission
D)permit
10
If an accident happens on a business's premises, _____________insurance would offer protection.
A)property
B)life
C)casualty
D)product liability
11
____________is a form of insurance that protects a business in case of employee theft.
A)Errors and omissions insurance
B)Performance bonds
C)Product liability insurance
D)Fidelity bonds
12
____________insurance is required by the government.
A)Workers' Compensation
B)Casualty
C)Life
D)Property
13
If a business cannot get insurance, it must_________________.
A)forego insurance
B)self-insure
C)close
D)chose an agent
14
A/An______________insurance agent is one who represents multiple insurance companies.
A)liability
B)bonding
C)direct
D)independent
15
Creating a/an_____________can help a business handle emergency situations more smoothly.
A)labor union
B)security system
C)emergency response team
D)monitoring system
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