Insurance and risk management Thank you in advance Answer as many as possible 27. Which of the following is NOT considered part of the risk management process? a. Identify potential risks b. Evaluate treatment options c. Implement selected treatment options d. Monitor the effectiveness of the treatment e. Prepare reports for stockholders 28. Which of the following is not one of the four types of insurance companies? a. Stock insurance companies b. Mutual insurance companies c. Internet insurance companies d. Reciprocal exchanges e. Lloyd's associations 29. The two major sources of loss exposures to identify are: a. Owned assets and non-owned assets b. Assets and liabilities c. Human resources and net income d. Perils and hazards e. Financial assets and physical assets 30. Which of the following is NOT considered as an intangible asset? a. Work-in-process b. Goodwill c. Relationships with vendors d. Public infrastructure e. The firm's reputation 31. Camille, the risk manager for Corner Grocery Stores, Inc., is concerned about the numerous slips and falls by visitors to her many stores. These losses are small and very predictable so Camille should: a. Purchase a premises liability insurance policy to indemnify the store for these certain losses b. Use a hold-harmless agreement with visitors to the stores c. Obtain a surety bond to protect the principals d. Retain the financing of these certain losses e. Use a property lease to transfer the risk to the landlord 32. Which of the following is NOT a required component of an insurance company's operations? a. Reinsurance b. Underwriting c. Claims d. Actuarial 33. Insurance companies are regulated by: a. the federal government c. state insurance departments b. an industry oversight group d. an industry watchdog organization 34. All of the following are true EXCEPT: a. Mutual insurance companies issue stock and are organized as for-profit corporations c. Mutual insurance companies have a harder time raising capital than other insurance companies b. Mutual insurance companies are owned by policyholders and profits are disbursed in dividends d. Mutual insurance companies are permitted to merge with other companies to form a larger company 35. The large pools of funds that insurers must maintain to pay claims are known as: a. actuarial funds b. reserves c. reinsurance d. premiums 36. The primary regulatory body for handling consumer complaints about insurers is: e. state insurance departments f. the NAIC g. the Federal Insurance Office h. the SEC The