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POB 5.02 B
Test Description: POB 5.02 B
Instructions: Answer all questions to get your test result.
1) A real estate agent has the responsibility to showcase several homes in order to sell to potential customers. How is the agent currently handling the risks?
A
Assume
B
Transfer
C
Insure
D
Avoid
2) A-1 Cleaning Company has a contract with another company to take care of its customers' delicate fabrics. How does the company handle these risks?
A
Transfer
B
Assume
C
Avoid
D
Insure
3) The Electronics Company hires local delivery companies to set up equipment. How does the company handle the risks of setting up equipment?
A
Avoid
B
Transfer
C
Assume
D
Insure
4) Fred's receives thirty service orders. The company refers some of the orders to another company, since she wants to maintain a reputation of completing orders How is risk handled?
A
Transfer
B
Assume
C
Insure
D
Avoid
5) It cost a company at least $1.49 to produce a new line of shampoo. The company decided to continue its original instead of adding a new product. How did the company handle risk?
A
Insure
B
Avoid
C
Assume
D
Transfer
6) ABC Investment Company invested over $300,000 obtained from their clients. The company gained 5% as a return on its investment. This is an example of which type of insurance risk?
A
Insurable
B
Speculative
C
Controllable
D
Economic
7) A chef allowed potential customers to taste sample dishes with plans for them to purchase several after the tasting.This is an example of which type of insurance risk?
A
Controllable
B
Economic
C
Insurable
D
Speculative
8) A distributor remodeled its facilities in order to offer a variety of supplies to its customers. This is an example of which type of insurance risk?
A
Insurable
B
Controllable
C
Speculative
D
Economic
9) A store relocated to a large building with plans to increase its profits and target market. This is an example of which type of insurance risk?
A
Speculative
B
Economic
C
Controllable
D
Insurable
10) A local food company filed an insurance claim to compensate employees who lost personal belongings in a company fire. This is an example of which type of insurance risk?
A
Economic
B
Insurable
C
Controllable
D
Speculative
*select an answer for all questions
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