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Questions on Insurance and Risk Management

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1. What are the different types of Hazards?

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2. What is objective Risk and Subjective Risk

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3. Features of Static Risk

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4. What is pure risk?

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5. Is all types of risk insurable?

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6. Group various Loss reduction techniques:

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7. Can some risk be ignored?

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8. What type of risk can be avoided altogether?

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9. Define Accident:

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10. Insurance covers fortuitous loss. What is fortuitous Loss?

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11. What is fundamental Risk?

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12. If both the chance of loss and the severity of loss is low, what risk management can be suggested?

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13. What are the different ways to control Risks?

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14. Storing gas cylinders next to a heater is an example of which of the following?

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15. A brief on disaster took place in Japan between 1932 to 1968 named as Minamata Disease caused by methylmercury poisoning

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16. What is Finite Risk Re-insurance cover?

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17. What is economic perils

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18. Who sets the obective of implementing a Risk Management Programm in an organisation?

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19. (KRIs) stands for _____

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20. Why most of the Management Assumptions requires risk Analysis?

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21. In an organisaition, it is whose responsibility to participate and execute the Risk Management programme?

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22. Can Emotional Risk be insured?

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23. Insurance Pool is by nature a____

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24. How an organisation attempt to reduce the impact of loss from various risk?

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25. Explain Fire hazards and its classifications:

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26. Explain what is "Fire Load"

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27. Fire Load capacity of various occupancy as per Indian Standard Specification:

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28. Which Occupancies is considered having “Higher Fire Load”?

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29. What are the leading cause of industrial fires.

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30. How Technological changes can affect the organisational Risks?

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31. Can Insurance really reduce or control Risk?

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32. What do you mean by Adverse selection in the insurance industry?

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33. What is objective probability?

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34. What is subjective risk?

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35. What types of risk insurers generally avoid?

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36. Why Pure Risk is insurable?

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37. In a "Cost-Benefit" Analysis which one is easier to calculate? Cost or Benefit

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38. Can you make profit out of insuranace cover?

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39. Risk inspectors are generally qualified in ________

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40. What is Act of God?

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41. What is intangible Hazard?

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42. Which method can reduce the risk to Zero or almost Zero?

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43. Describe Risk:

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44. Explain Self-Insurance

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45. How you can protect an organisation against contingencies associated with future loss events?

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46. Explain COCA

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47. How probability of occurance of an event is assigned?

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48.Explain Crisis Management stages

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49. COSO is usually used as a ____________

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50. What Fault-tree can identify?

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51. How you can reduce insurance cost when total loss of an assets is virtually impossible?

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52. What is Rent-a-Captive?

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53. What is Risk Diversification strategy?

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54. What is credit securitization?

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55. Explain Insurance securitization

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56. Which industry extensively use HAZOP approach?

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57. Why Business Continuity Plans requires regular updation?

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58. What is sporadic losses?

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59. What is Risk Matrix?

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60. A fault tree typically identifies

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61. Why organisations facing contineous Compliance and Regualtory Risk?

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62. Can Large deduction or excess clause in a insurance policy reduces risk?

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63. What is true about human error?

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64. What Key Risk Indicators (KRIs) really do?

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65. How beneficial is Data Loss Insurance?

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66. List the various ratios that can help assess an insurance company better:

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67. Experience-rated policies are beneficial to the insurer because they help to reduce:

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68. What is a Captive Insurance company?

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The word 'Peril' is commonly used in the insurance industry. What does 'Peril' means?

69. Can Risks be fully eliminated?

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70. How Technological changes can affect the organisational Risks?

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71. Can Insurance really reduce or control Risk?

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72. In prioritising, which are the risks to be addressed first?

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73. While prioritising risks, risks are classified into 5 categories. Identify them?

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74. Weather derivates usually covers:

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75. What types of risk insurers generally avoid?

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76. The main objective of Alternate Risk Transfer and Financing techniques (ART) is to

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77. Which approach combines both insurance risk and capital market risk?

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78. When two or more companies join together to underwrite their collective exposure to high-occurrence, low-cost risks, such arrangement is termed as:

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79. Does Capitive insurance companies require Licence or registration with IRDA?

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80. is ISO 22301:2019 is the Best Standards for Business Continuity Management?

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81. The word 'Peril' is commonly used in the insurance industry. What does 'Peril' means?

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82. How losses cause due to risk are controlled or mitigated by an Organisation?

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83. Which country has the oldest record of doing Insurance?

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84. What do you mean by 'Arson'?

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