7. One of the following is means of risk transfer A. Retention D. All of the above B. avoidance E. None of the above c Insurance 8. The kind of risk an organization will face when customers are injured by firms product or through the company employees A Property risk D. Fundamental risk 8. Personal risk E Dynamic risk Liability risk 9. Which of the following is a pee loss (preventing) measure of risk? A. Evacuation (moving) of people from C. Warning posters flood arca D. Fire extinguishers 8. First aid kit E None of the above 10. An insured individual tendency of causing inflicted damage is best explained by A. Penil D. Morale hand B. Moral hazard E None of the above c. Physical hazard 11. Having a rules such as, every worker should wear safety clothing while they are working in a factory are examples of A. Risk transfer tools D. Los prevention tools B. Risk avoidance tools E. None of the above c. Separation 12. Which of the following condition related to physical hazard A. A careless driver D. All of the above B. lee road condition E. None of the above c. Intentional loss Part-II: True or False Questions (1 point each) Write true if the statement is true or false if the statement is false on the answer sheet provided 1. Static risks are less predictable and controllable than dynamic risk 2. The lighur the R&R the ligher the risk, mening zuriability decreases 3. Risk measurement is the first and the difficult step in risk management process 4. visit to premises, plants, or processes, locations, departments, and units are not important to identify risk 5. Under a lease, the tenant may be able to shift to the landlord any responsibility the tenant may have for damage to the landlord's premises caused by the tenant's negligence. This best explains transfer of property 6. Moral hazard is a condition that originates from the careless act of individuals 7. The more knowledgeable the person is the more certain it will be concerning the future events and the higher will be the risk 8. If the total number of possible outcomes cannot be determined, the Poisson probability distribution can be used