Chapter Three Knowledge Check

Chapter Three Knowledge Check

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Question 1 of 2

1. Question
Which of the following is an element of a loss exposure?
- a) Item subject to a loss
- b) Potential cause of the loss
- c) Financial consequences of the occurrence
- d) All of the above
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Question 2 of 2

2. Question
You have advised your client who owns a retail outlet to install an automatic sprinkler system in their premises. Implementing selected risk management strategies requires both technical and managerial decisions to be made. A technical decision is what must be done. Which of the following decisions is NOT an example of a technical decision?
- a) Who will be responsible for the project
- b) What kind of sprinkler system will be required
- c) What building permits will be required
- d) What must be done to minimize disruption of customer service at the store
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