ST.

DOMINIC SAVIO COLLEGE Total Score: Transmuted Grade:

Blk 1 Lot 6 Mountain Heights
Subdivision, Quirino Hi-way,
Pangarap, Caloocan City Subject Name RISK MANAGEMENT
Telephone Nos. 961-54-97; AND INSURANCE
961-77-55 Subject Code BM 2
Telefax No. 961-54-99
College / Department School Year SY 2023 - 2024
Semester 2nd Semester
COLLEGE OF ACCOUNTANCY, BUSINESS,
Instructor Mr. Augusto M. Acosta
HOSPITALITY, AND TOURISM MANAGEMENT
Date of Examination 12 to 17 February 2024
PRELIMINARY EXAMINATION

Student’s Name:

Test I: Tue or False

Mastery Level: 80% Score:
Scoring Guide Two (2) point each
To measure the student’s knowledge on the topics studied in the course within the
Objective/s:
covered period

For each statement, write True if the statement is correct and if False write the
Instruction: correct answer to make the statement correct.
Write the correct answer on the space provided.

_____________1. Risk Management is all about controlling the quality.

_____________2. An insured is the company or person who promises to reimburse the insurance.
_____________3. The insurer is the one who receives the payment from insurance company.
_____________4. The policy is the consideration paid by the insured-usually annually or semiannually.
_____________5. Insurance is a contact between an individual or business with an insurance company to
help provide financial protection and mitigate the risks.
_____________6. The purpose of insurance is to produce your business exposure to the effects of risks.
_____________7. Speculative risk is all about profit and investment.
_____________8. Pure risk is all about profit only.
_____________9. Life insurance provides for your family or some other named beneficiaries on your
birth.
____________10. Health insurance covers the cost of hospitalization, visit to the doctor’s office and
prescription medicines.
 Test II: Identification
Mastery Level: 80% Score:
Scoring Guide One (1) point each
To measure the student’s knowledge on the topics studied in the course within the
Objective/s:
covered period

______________1. According to this principle, you have to disclose all the information that is related to
the risk, to the insurance company truthfully.
______________2. This principle is not used in Life Insurance.
______________3. According to this principle, you must have an insurable interest in the life that is
insured.
______________4. You must take all the necessary steps to limit the loss when it happens.
______________5. According to this principle, if you have taken insurance from more than one insurer,
both insurers will share the loss in the proportion of their respective coverage.
______________6. Is the process of identifying, assessing and controlling threats to an organization.
______________7. Losses in the financial market, currencies, interest rates and stock prices.
______________8. Fourth step in risk management process.
______________9. Second step in risk management process.
_____________10. First step in risk management process.
Test III. Enumeration
Principles of Insurance
1.
2.
3.
4.
5.
6.
7.
Major Types of Insurance
1. 4.
2. 5.
3.
Risk Management Process Types of risk
1. 1.
2. 2.
3. 3.
4.
5.

Test IV: Essay

Mastery Level: 80% Score:
Scoring Guide Coherency of the explanation – Six (6) points
Correctness of the answer – Six (6) points
Grammar – Five (5) points
Handwriting – Three (3) points

What is the role of insurance in risk management?