Which of the following is the last step in the risk management process?

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Question:
Which of the following is the last step in the risk management process?

1.Insurance

2.Review

3.Risk evaluation

4.Loss prevention

Posted Date:-2021-11-28 03:42:33

More MCQS Questions and answers

  1. ______ policy matures on the assured death or on his attainment of a particular age whichever occurs earlier.
  2. _______ is the extra payment done for administrative and capital cost.
  3. ________ are the risk management methods
  4. _________ is those terms, which are implied in every contract of marine insurance unless they are expressly excluded.
  5. _________ refers to distribution of insurance products through
  6. A bancassurance started in India was ____
  7. A complete proposal form contains information about _______
  8. A firm may seek to minimize marketing risks by undertaking _______
  9. A person employed to do any act for another or to represent another in dealing with a third person refers to _______
  10. An alternative approach to the check list is ______
  11. An instrument by which a pure risk is transferred by a party other than insurer is
  12. Cost of risk has the following components _______
  13. If RMIS has poor system documentation then the remedy is to provide ____
  14. If RMIS has the problem of incompatibility of software then the remedy is to provide _____
  15. Insurance contract is sort of contract which is approved by ______
  16. Insurance is a risk management technique involving
  17. Insurance is best suited to risk with ________
  18. Losses arising due to a risk exposure retained or assured is known as _____
  19. Pure Risk was grouped ________
  20. Restoring a policy holder to his pre-loss financial position means _______
  21. Risk Management is a subject which falls under ________
  22. Risk Management process includes ______
  23. Risk retention means _______
  24. That which covers the cost of self insurance, loading in insurance premiums and enforcing hedging arrangements is ________
  25. That which is designed to improve the information on which decisions are take to reduce risk is ____
  26. The company doing the insurance business is called ________
  27. The first step in risk management process is ________
  28. The foundation for risk Management is provided by ________
  29. The installation of heat or smoke activated sprinkler systems that are designed to minimize fire damage in the outbreak of a fire is an example of ______
  30. The Insurance is a _______
  31. The measures aimed at avoiding eliminating or reducing the chances of loss production is covered by _____
  32. The medias used for direct marketing are
  33. The Person whose risk is insured is called ______
  34. The possibility that actual results may differ from predicted results is known as ______
  35. The principle of indemnity is applicable to ______ only.
  36. The principles of indemnity does not apply to ______
  37. The process of reducing the level of risky activities firstly affect the frequency of losses is the strategy of _____
  38. The risk management can be done by ______
  39. The risk manager maybe able to identify the new ventures involved in _______
  40. The risk that arises because of magnitude of cash flow due to change in output and input prices is known as ______
  41. The risk which has three outcomes with possibility of gain is _____
  42. The strategy pursued by the business firms to tackle risk by spreading into a number of business is _____
  43. The success of whole process of risk management depends on its __________
  44. The term Assurance refers to _______
  45. This policy covers all risks to the ship and its cargo while the ship is at a particular port ______
  46. To avoid RMIS being obsolete provide ______
  47. Transfer of rights and remedies of the insured to the insurer after indemnity has been effected is called _____
  48. Uncertain events are broadly classified as ______
  49. Which of the following is the last step in the risk management process?
  50. Which of the statements is correct? a. Insurance is a transfer of risk mechanism. b. Insurance gives physical protection to assets.
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