Top 150+ Solved Risk Management and Insurance MCQ Questions Answer
Q. ….. is a condition in which there is a possibility of an adverse deviation from a desiredoutcome that is expected or hope for.
a. Loss
b. Profit
c. Risk
d. Uncertainty
Q. Relative variation of actual loss from expected loss is called………
a. Subjective risk
b. Objective risk
c. Actual loss
d. Expected loss
Q. …………. Refers to a situation where outcome is not certain
a. Uncertainty
b. Loss
c. Insurance
d. None of the above
Q. If any risk is concerned with financial loss, it is termed as………..
a. Business risk
b. Business loss
c. Financial risk
d. Insurable claim
Q. ………… another name of fundamental risk
a. Systematic risk
b. Interest rate risk
c. Group risk
d. Loss
Q. Pure risk situation are those where there is a possibility of………….
a. Loss or no loss
b. Loss
c. Variation
d. None of the above
Q. Speculative risk is a situation in which…………………… is possible
a. Loss
b. Profit
c. Either a profit or loss
d. None of the above
Q. Changes is technology is a example for …………
a. Pure risk
b. Speculative risk
c. Static risk
d. Dynamic risk
Q. In static risk.............
a. Losses cannot be predicted
b. Losses can be predicted
c. Losses are not easily predictable
d. None of these
Q. Risk which can be measured using numerical scale are known as
a. Quantifiable risk
b. Static risk
c. Dynamic risk
d. Speculative risk
Q. ………………is an example for personal risk
a. Business loss
b. Fire occurred in business premises
c. Risk of premature death
d. None of the above
Q. Property damaged because of earthquake is…………risk
a. Risk for general insurance
b. Non insurable risk
c. Property risk
d. None of the above
Q. Spreading of risk otherwise termed as……….
a. Shifting of risk
b. Acceptance of risk
c. Reduction of risk
d. Spreading of risk
Q. Insurance is a risk management technique involving…
a. Risk retention
b. Risk avoidance
c. Loss Control
d. Risk transfer