Risk Management Questionnaire - 1438 Words

Model Question Paper MF0009 Insurance and Risk Management Section A: 1 – 20: each question carries 1-mark Section B: 21 – 31: each question carries 2-mark Section C: 32-38: each question carries 4-mark Section A 1. What does risk imply? a) Bright future b) Doubt about future c) Worse position d) No future 2. Chance may be defined as: a) A favourable outcome b) A different outcome c) Fluctuating outcome d) Undefined outcome 3. One of the following is not the meaning of Risk – a) Risk as the cause b) Risk as loss c) Risk as the subject d) Risk as the likelihood 4. Chance is _________ Risk a) Same as b) Different from c) Similar to d) Not related to 5. Objective risk is defined as a) Relative variation of actual and expected loss b)†¦show more content†¦The higher the probability that an unwanted event will occur, _________ the risk. a) The Smaller is b) The Greater is c) No change in d) Can’t say anything about 26. The highest authority to settle a consumer dispute under COPRA Act a) Dist forum b) State commission c) National commission d) Apex court 27. The order issued by the consumer forum does not include one of the following – a) To remove the defect pointed out from the goods in question b) To replace the goods with new one c) To pay compensation awarded by the forum d) to return the defective product 28. Which of the following is true? a) The agent gets 2% commission on single premium b) The agents gets 7.5% commission on annuity business c) 40% commission is paid on first years premium d) No commission is paid for revival of policy 29. Treaty method is a formal and ---------- agreement between two insurers. a) Legally binding b) Informal agreement c) Contract d) Mutual Consent 30. Which of the following is not true with Joint Venture Model? a) It is between one or more banks with an insurance company b) Distribution is done through Bank s network c) Balance share holding is between the bank and insurer d) Exclusive products are offered to the customers 31. Bank personnel may resist the sale of insurance in the bank due to – a) Lack of product knowledge b) If savings are diverted from bank c) Lack of training d) Sales Section C 32. State which of the followings are true or false – i)Show MoreRelatedThe Requirements Of Risk Management1737 Words   |  7 PagesAd Hoc is basic level, which the organizations do not realize the requirement of risk management, and has no systematic solution to deal with the risk. At this level, the project always deal the risk after it happened, which lead to weak situation in conducting the project. Level 2: Initial. At this level, the organization can use rudimentary manner to manage risk. However, even aware of the need of risk management, there is still lack of the capability of implement. Level 3: Defined. This is aRead MoreReview on the Impact of Management Integrity on Audit Planning and Evidence948 Words   |  4 PagesReview on the Impact of Management Integrity on Audit Planning and Evidence Objective This research is done to assess the correlation between management integrity and RMM, audit planning and misstatement detection, which leads to analysis of the impact of management integrity information on audit conduct. 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This thesis examined five large commercial banks in China and studied their credit risk management processes. This study intends to develop an up-to-date understanding of Chinese banking industry, covering some aspects of credit risk management, banking profitability and competitionRead MoreSwot Analysis : Risk Identification Techniques1021 Words   |  5 Pages1) Risk Identification Techniques †¢ SWOT Analysis: SWOT analysis plays a key role in formulation of strategy and hence, it can be used for identifying strategic risks. The strengths and weaknesses of a company are internal in nature and can cover the risks associated culture, organization, financial and operational part of the strategy. 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Risk is defined as events whose unfavorable consequencesRead MoreRisk Management Process : Erm Frameworks, Risk Identification, And Tolerance1245 Words   |  5 Pages Risk Management Process: ERM Frameworks, Risk Identification, and Tolerance Setting up a project makes it necessary that risks that are likely to affect the business are determined. The characteristics of the risks are to be documented. Participants in the risk management process vary, and they include personnel such as end users, customers, risk management team, project team, outside experts, stakeholders and other project managers (Piazza-Waggoner, Adams, Goldfarb, Slater, 2002). The risk identification