1.Putting Fire of your own company is an example of ……………………Hazard.

a. Morale
b. Physical
c. Effort
d. None of above.

3. An uncertain event or happening, if it occurs, has positive or negative effect, on a project objective is termed as

a. Risk
b. Return
c. Insurance
d. Premium

4. Property Risk is one of the type of

a. Pure Risk

b. Unpure Risk

c. More Risk

d. No Risk

5. Identification, Assessment and Prioritization of risk is known as

a. Risk Management

b. Risk Mitigation

c. Risk Avoidance

d. All of above.

6. One of the tool of Risk Handling to reduce the probability and impact of risk :

a. Mitigation of Risk
b. Minimization of Risk
c. Maximization of Risk
d. None of Above
e.

7. Hazard increase the probability of loss due to dishonesty or character of insured person.

a. Moral

b. Morale

c. Legal

d. Physical
8. Evaluating the risk needs to be measured in two dimension that is ………………….and…………..

a. Loss frequency , loss severity

b. Profit and loss
c. Loss and Profit
d. None of above

9. Which of the following method reduce the chance of loss to zero.

a. Risk Transferring

b. Risk Avoidance

c. Risk Monitoring

d. Risk Reduction

10. Type of risk management strategy in which two parties are involved for risk minimization.

a. Risk Transfer
b. Risk Reduction
c. Risk retain
d. Portfolio Theory

11. ……………………is the most famous tool for risk management around the world.

a. Insurance
b. Hedging
c. Derivative
d. All of above

12. Risk management can be defined as the art and science of _________ risk factors

Throughout the life cycle of a project.

a. researching, reviewing, and acting on

b. identifying, analyzing, and responding to

c. reviewing, monitoring, and managing

d. identifying, reviewing, and avoiding

13. Risk Management includes all of the following processes except:

a. Risk Monitoring and Control

b. Risk Identification

c. Risk Avoidance

d. Risk Response Planning

14. When should a risk be avoided?

a. When the risk event has a low probability of occurrence and low impact

b. When the risk event is unacceptable -- generally one with a very high probability of

Occurrence and high impact

c. When it can be transferred by purchasing insurance

d. A risk event can never be avoided

15. An example of risk mitigation is:

a. Using proven technology in the development of a product to lessen the probability

that the product will not work

b. Purchasing insurance

c. Accepting a lower profit if costs overrun

d. a and b

16. Risk mitigation involves all except which of the following:

a. Developing system standards (policies, procedures, responsibility standards)

b. Obtaining insurance against loss

c. Identification of project risks

d. Performing contingent planning

17. Suppose a project has many hazards that could easily injure one or more persons and

there is no method of avoiding the potential for damages. The project manager should

Consider __________ as a means of deflecting the risk.

a. abandoning the project

b. buying insurance for personal bodily injury

c. establishing a contingency fund

d. establishing a management reserve