1. Policies that cover injuries reported during the policy period that occurred after the policy retroactive date are called:

a. Occurrence policies

b. Claims Made policies

c. Risk Transfer

d. Risk Retention

2. The number of times an event occurs and can be gauged in relation to any relevant period of time is called:

a. Severity

b. Frequency

c. Formulation

d. Adverse Occurrence

3. An insurance company owned soled for the benefits of an individual healthcare organization to insure its own risks is known as:

a. Self-insurance

b. Captive Insurance Company

c. Large Deductible Insurance

d. Risk Pool

4. According to your text, predictive analytics includes applications in behavioral economics, data visualization techniques, and text mining.

a. True

b. False

5. __________ analytics relies on the basic fundamental premise that the less significant the risk, the less funding that needs to be allocated to that risk.

a. Actuarial

b. Customer

c. Claims

d. Risk and Compliance

6. _____________ means planning for losses by using available cash, establishing loss revenues, or borrowing funds. a. Hold Harmless

b. Risk Retention

c. Risk Transfer

d. Risk Adverse

7. Occurrence policies cover all injuries that occurred during the policy period, regardless of when they were reported.

a. True

b. False

8. _____________ takes place when an outside party pays for losses that occur:

a. Hold Harmless

b. Risk Retention

c. Risk Transfer

d. Risk Adverse

9. The financial survival of a healthcare organization requires achieving the optimal balance between retaining risk and transferring risk.

a. True

b. False

10. The cost of the loss in dollars is called:

a. Severity

b. Frequency.

c. Formulation

d. Adverse Occurrence

Reference: Risk Management in Health Care Institutions - Limiting Liability and Enhancing Care