RFP Module 2 Practice Questions - MFPC RFP Module 2 - Risk Management and Insurance Planning (Malaysia) Exam - RFP Module 2 Practice Questions - MFPC RFP Module 2 - Risk Management and Insurance Planning (Malaysia) Exam

Question 1

Which of the following best defines pure risk?

A risk that offers only the possibility of loss or no loss. A risk that involves the possibility of a gain. A risk that cannot be insured. A risk caused by changes in the economy.

Correct Answer:

A risk that offers only the possibility of loss or no loss.

Question 2

What is the primary purpose of risk management?

To completely eliminate all risks. To maximize potential profits. To minimize the adverse effects of risks at a minimum cost. To transfer all risks to an insurance company.

Correct Answer:

To minimize the adverse effects of risks at a minimum cost.

Question 3

Which of the following is an example of risk retention?

Purchasing a comprehensive health insurance policy. Choosing a high deductible on an auto insurance policy. Installing a sprinkler system to reduce fire damage. Avoiding flying to eliminate the risk of a plane crash.

Correct Answer:

Choosing a high deductible on an auto insurance policy.

Question 4

What does a hazard refer to in insurance?

The cause of a loss. A condition that increases the frequency or severity of a loss. The exact amount of financial loss incurred. A risk that cannot be insured.

Correct Answer:

A condition that increases the frequency or severity of a loss.

Question 5

Which of the following is considered a moral hazard?

Leaving keys in an unlocked car. Falsely claiming a higher value for stolen goods to get a larger payout. Poor wiring in an old building. Slippery floors in a supermarket.

Correct Answer:

Falsely claiming a higher value for stolen goods to get a larger payout.

Question 1

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Prepare with the RFP Module 2 Practice Questions - MFPC RFP Module 2 - Risk Management and Insurance Planning (Malaysia) Exam practice quiz. This question bank includes 100 questions covering insurance, policy, life, risk, and period. Use it to review important concepts, identify knowledge gaps, and build confidence for the related exam, course, or assessment.

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RFP Module 2 Practice Questions - MFPC RFP Module 2 - Risk Management and Insurance Planning (Malaysia) Exam

This practice set contains 100 questions from the matching question bank and focuses on insurance, policy, life, risk, and period. Work through each question carefully, review the provided solutions, and revisit topics that need more study before your next attempt.

This is an independent study resource intended for practice and review; it is not an official examination or an endorsement by any organization named in the title.

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RFP Module 2 Practice Questions - MFPC RFP Module 2 - Risk Management and Insurance Planning (Malaysia) Exam

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