$1.$ A loss exposure is:

Something that presents the possibility of a financial loss

Something that cannot be reduced or eliminated

Not normally found in well$-$run businesses

Only a potential property loss

$2.$ Which of the following is not a requirement that the plaintiff must prove to the courts in a negligence case against a defendant

The defendant committed a crime in the way that he interacted with the plaintif

The defendant owed the plaintiff a legal duty.

The plaintiff suffered some sort of property damage or bodily injury.

The plaintiff suffered some sort of property damage or bodily injury.

$3.$ If a business has an insurance program with a $$50$K SIR, who pays for a loss that is $$49$K$?$

The primary insurance company

The excess insurance company

The business itself

The aggregate insurance company

$4.$ Which of the following would be an example of implementing the risk management technique of segregating loss exposures?

Moving operations to a building that is not in a flood zone

Installing a fire suppression system in a building

Leasing a warhouse in another location to store half of your inventory

Using "social distancing" to limit the number of customers in your store at one time

$5.$ Placing $"$no smoking" signs around your property is an example of which type of risk management technique to control loss from fire?

A loss prevention technique

A loss reduction technique

Exposure avoidance

Segregation of exposure units

$6.$ Which type of contract clause means you will pay someone back in the event they are sued because of your negligence?

An indenification clause

A hold harmless clause

An insurance clause

A certificate of insurance

$7.$ Which of the following would be considered a loss reduction technique for your IPhone?

Keeping it in your front pants pocket

Installing a tracking device such as "Find My Iphone" on it

Installing a $"$no crack" screen protector

Creating a data backup of your IPhone

Encasing it in a plastic bag when you go to the beach

$8.$ Which of the following features on your new car could best be considered a loss prevention technique?

Three$-$point seat belts

A GPS tracking device in case the car is stolen

Airbags

A disabling device that does not allow touch screen options when the car is moving

$9.$ Contractual risk transfer is a risk control technique that transfers potential liablity from one party in a contract to another. This is normally done with which type of clause in a contract?

An insurane provision

A hold harmless clause

A forum selection clause

A payment guarantee clause

$10.$ Which of the following perils or the potential loss from the peril, might best be classified as high frequency$/$low severity?

Hail damage

Wind damage

Shoplifting

Arson