5th Six Weeks

Question 1

The chance a company will have lower than expected profits or have a loss rather than taking a profit.

Answer 1

Business Risk

Question 2

Fires or other events that can force businesses to move or close.

Answer 2

Business Interruption

Question 3

Damage to business from storms, fires, and other disasters.

Answer 3

Property Loss

Question 4

Workplace accidents that result in medical treatment and/or lost productivity

Answer 4

Injury

Question 5

Risk of lawsuits for accidents, libel, slander, or other unanticipated events.

Answer 5

Liability

Question 6

Loss of data or data theft.

Answer 6

Security Breach

Question 7

A contract where an individual or organization has protection against the risk of loss.

Answer 7

Insurance

Question 8

This kind of risk has two possibile outcomes: good or bad.

Answer 8

Pure Risk

Question 9

This kind of risk has three possible outcomes: good, bad, or nothing.

Answer 9

Speculative Risk

Question 10

Risk factors you can do something about.

Answer 10

Controllable Risk

Question 11

Risk factors you cannot do anything about.

Answer 11

Uncontrollable Risk

Question 12

Risk that is possible to collect, calculate, and estimate the losses - these risks can be protected.

Answer 12

Insurable Risk

Question 13

Risks that cannot be calculated or estimated, and usually cannot be protected against through an insurance company.

Answer 13

Uninsurable Risk

Question 14

Forming an LLC or Corporation to protect against personal loss.

Answer 14

Limit Liability

Question 15

Categorize threats as very likely, some chance, small chance, and very little chance.

Answer 15

Prioritize Risks

Question 16

Protecting the individual or company through different types like life, disability, professional, operational, and others.

Answer 16

Buy Insurance

Question 17

Testing products and services to strive for the highest excellence.

Answer 17

Quality Assurance

Question 18

Create safeguards for buyers with poor credit to keep company profitable.

Answer 18

Limit High-Risk Customers

Question 19

Focusing on quality, not quantity, to reduce risk of problems down the road.

Answer 19

Control Growth

Question 20

Appoint current or new employees to map out threats to company,

Answer 20

Risk Management Team

Question 21

Where businesses act in the best interests of their community and environment.

Answer 21

Social Responsibility

Question 22

The rules and standards for deciding what is right or wrong morally when conducting a business.

Answer 22

Ethics

Question 23

A wrong act or breach of contract.

Answer 23

Tort

Question 24

Proprietary information companies try to protect.

Answer 24

Trade Secrets

Question 25

Defamation where a business suffers a monetary loss.

Answer 25

Libel

Question 26

Hindering another individual or organization from conducting normal business.

Answer 26

Restraint

Question 27

Falsely or recklessly misrepresenting their identity or position in a contract.

Answer 27

Fraud

Question 28

An agreement that has been written or spoken, that is intended to be enforced by law.

Answer 28

Contract

Question 29

The methods through which rights are enforced, either criminal or civil.

Answer 29

Procedure

Question 30

The person or organization that owes money.

Answer 30

Debtor

Question 31

The person or organization that lends money.

Answer 31

Creditor

Question 32

Where one person is given the legal right to act on the behalf of another.

Answer 32

Agency

Question 33

Rules for how to legally act with natural resources.

Answer 33

Environmental Law

Question 34

Law that governs the creation and operation of governmental agencies.

Answer 34

Administrative Law

Question 35

This is in place to protect the employees, customers, the environment, and hold businesses accountable.

Answer 35

Business Regulation