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BML Final Set 15
Test Description: BML Final Set 15
Instructions: Answer all questions to get your test result.
1) Which type of operational software keeps track of levels and the supplies and materials necessary to produce goods?
A
supply chain management
B
inventory
C
budgeting
D
project management
2) Which type of operational software records and calculates financial matters?
A
supply chain management
B
inventory
C
budgeting
D
project management
3) An uninsurable risk
A
is one that is not common or has an unpredictable amount of loss.
B
is one in which the loss will never occur.
C
is one that has a near-certain loss.
D
is one which has a large potential loss.
4) Choosing to not complete a risky activity is called
A
avoiding the risk.
B
insuring the risk.
C
assuming the risk.
D
transferring the risk.
5) Accepting that a loss may occur and taking responsibility for a loss if it should occur is called
A
transferring the risk.
B
avoiding the risk.
C
insuring the risk.
D
assuming the risk.
6) Compensating someone else to complete a risky activity is called
A
transferring the risk.
B
assuming the risk.
C
insuring the risk.
D
avoiding the risk.
7) A pure risk
A
is uninsurable.
B
is uncontrollable.
C
offers the possibility of risk or the possibility of reward.
D
offers only the possibility of loss without possibility of gain.
8) A speculative risk
A
offers only the possibility of loss without possibility of gain.
B
is uninsurable.
C
is uncontrollable.
D
offers the possibility of risk or the possibility of reward.
9) Independent insurance agents
A
usually sell different types of insurance from several different companies.
B
can charge unlimited amounts for premiums.
C
work for a large insurance company and sell only policies written by that company.
D
work only for businesses (not individuals) and gain special expertise in business insurance.
10) Which of these is a controllable risk?
A
tornado
B
flash flood
C
hurricane
D
theft
*select an answer for all questions
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