Insurance is a risk management technique involving:

Related MCQs

• Which of the statement are true? A. Risk retention and risk transfer are some of the techniques to manage risks. B. Implementation is one of the steps in risk management
• Which of the statements is correct? A. Insurance is a transfer of risk mechanism. B. Insurance gives physical protection to assets.
• Which of the statements is correct? Under a fire policy A. Insurance is a transfer of risk mechanism. B. Insurance gives physical protection to assets.
• Risk management can be defined as the art and science of _________ risk factors throughout the life cycle of a project.
• Which of the statements is correct? A. One of the methods of risk retention is by way of voluntary excess or deductible available under the policy. B. Another method of retention of risk is to absorb small losses as normal operating expenses of business.
• Which of the statements is correct? A. The simplest way to deal with a risk is to avoid it. B. This technique is always possible and practical.
• Insurance covers the risk of the most certain event -
• In insurance the risk is ________
• From the following which is not a type of Public Liability Risk Insurance
• In Life Insurance, risk may be in the form of