When using course materials as a source, indicate where you found the information. Provide links to outside sources used. Your answers should be 2 paragraphs in length.

Question 1 - True or false? In practice, the risk management techniques associated with risk financing and risk control are mutually exclusive of each other.

Question - 2 - True or false? The analysis of relevant, historical data has become increasingly important in risk identification.

Question - 3 - True or false? It is common for firms to implement avoidance as a technique to manage high frequency, high severity loss exposures.

Question - 4 - True or false? The decision to retain losses versus purchasing commercial insurance often depends on the financial stability of the firm.

Question - 5 - True or false? The firm's risk of indirect loss from a pandemic is generally considered an insurable risk.

Question - 6 - True or false? Firms are required by law to insure commercial property to one hundred percent of its value.

Question - 7- True or false? Without product liability rules, firms would increase production of knowingly unsafe products.

Question - 8 - True or false? Some retention is inherent in insurance contracts.

Question - 9 - True or false? Insurance companies specialize in pooling arrangements.

Question - 10 - True or false? Purchasing insurance is a form of gambling.