Part II: Multiple choice (5 marks, 1 each) (ILO's: A1, CI) 1. Fraudulent insurance claims are considered a(n) a. Attitudinal hazard b. Physical hazard c. Moral hazard d. Legal hazard 2. A student was working on a research paper for three months when unfortunately the computer crashed due to a virus and all the work was lost. Luckily the student saved the document on google cloud which enabled them to retrieve it. This risk treatment represents: a. Avoidance b. Duplication c. Separation d. Non-insurance transfers 3. A newly qualified doctor is concerned that he might commit a few errors in his early days due to his lack of experience in surgery and wants to manage that risk. Which type of insurance is he seeking? a. Professional liability insurance b. Workers compensation insurance c. Product liability insurance d. Group health insurance 4. Which of the following is a diversifiable risk? a. Covid 19 b. Economic recession c. Earthquake d. House fire 5. A Telecoms company provides mobile and internet services to a large number of users in the market. The company regularly experiences technical problems that cause service disruption to their users. This type of risk is a(n) a. Financial risk b. Strategic risk c. Operational risk d. Compliance risk