1. Risk Transfer is a very important concept to insurance, Which statement is NOT TRUE?

a Risk Transfer is an outdated concept that no longer applies

b Risk Transfer can help determine who is responsible for a loss through a contract

c Risk Transfer can move liability to another entity mostly through the use of a contract

d A lease is an example of Risk Transfer

2. Which is a true statement about Enterprise Risk Management?

a Looking at one large risk to the organization and taking action

b Enterprise Risk Management is only done by the owners and executives

c Involves looking at many different risks at many different levels for a comprehensive approach

d Is no longer used in organizations