BML Final Set 15 Question Preview (ID: 9558)
BML Final Set 15.
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Which type of operational software keeps track of levels and the supplies and materials necessary to produce goods?
a) inventory
b) project management
c) budgeting
d) supply chain management
Which type of operational software records and calculates financial matters?
a) inventory
b) project management
c) budgeting
d) supply chain management
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 which has a large potential loss.
d) is one that has a near-certain loss.
Choosing to not complete a risky activity is called
a) avoiding the risk.
b) transferring the risk.
c) insuring the risk.
d) assuming the risk.
Accepting that a loss may occur and taking responsibility for a loss if it should occur is called
a) avoiding the risk.
b) transferring the risk.
c) insuring the risk.
d) assuming the risk.
Compensating someone else to complete a risky activity is called
a) avoiding the risk.
b) transferring the risk.
c) insuring the risk.
d) assuming the risk.
A pure risk
a) offers only the possibility of loss without possibility of gain.
b) is uncontrollable.
c) is uninsurable.
d) offers the possibility of risk or the possibility of reward.
A speculative risk
a) offers only the possibility of loss without possibility of gain.
b) is uncontrollable.
c) is uninsurable.
d) offers the possibility of risk or the possibility of reward.
Independent insurance agents
a) can charge unlimited amounts for premiums.
b) work for a large insurance company and sell only policies written by that company.
c) work only for businesses (not individuals) and gain special expertise in business insurance.
d) usually sell different types of insurance from several different companies.
Which of these is a controllable risk?
a) hurricane
b) flash flood
c) theft
d) tornado
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