Chapter 1

Question 1

It’s a situation that exposes someone or something to danger or loss.

Answer 1

Risk

Question 2

The probability of threat or damage, injury, liability, or any other adverse occurrence that is caused by external or internal vulnerabilities, and that may be avoided through preemptive action.

Answer 2

Risk

Question 3

It pertains to any source of potential damage, harm, or adverse health effects on or someone.

Answer 3

Hazard

Question 4

The chance or probability that a person will be harmed or experience an adverse health effect if exposed to a hazard.

Answer 4

Risk

Question 5

___ is something that can cause harm while ___ is a chance that any hazard will cause harm to somebody.

Answer 5

Hazard, Risk

Question 6

It is the identification, evaluation, and prioritization of risks.

Answer 6

Risk Management

Question 7

It is followed by the coordinated and economical application of resources to minimize, monitor, and control the probability of unfortunate events to achieve the desired output.

Answer 7

Risk Management

Question 8

___ in tourism and hospitality industry is a two-way process.

Answer 8

Risk Management

Question 9

___ is another source of risk that could impact the tourism and hospitality industries.

Answer 9

Credit

Question 10

___ is the potential that a bank borrower or counterparty will fail to meet its obligation following agreed terms.

Answer 10

Credit Risk

Question 11

___ and ___ are sometimes being used interchangeably.

Answer 11

Risk, Accidents

Question 12

___ are reactive, ___ are preventive

Answer 12

Accidents, Risks

Question 13

Necessary to reduce cost pertinent to the accident, to wit: damaged property, cost of rental, maximization of subrogation recovery.

Answer 13

Accident Management

Question 14

7 common injuries in the hospitality industry

Answer 14

Slip-and-fall injuries
Musculoskeletal injuries
Skin reactions
Respiratory illnesses
Security-related accidents
Food poisoning
Elevator and escalator accidents

Question 15

Accidents due to fortuitous events or acts of God (8)

Answer 15

Earthquakes
Volcanic eruption
Flood
Landslides
Erosion
Fire
Storm
Typhoon

Question 16

Transportation accidents (3)

Answer 16

Air
Water
Land

Question 17

Accidents due to activities (4)

Answer 17

Pool accident
Animal bites/attack
Drowning
Electrocution

Question 18

Caused by movements of the Earth.

Answer 18

Natural causes and disasters

Question 19

Disasters related to weather (4)

Answer 19

Floods
Mudslides
Landslides
Famine

Question 20

___ has become one of the more and more active and threatening calamities that affect the international community.

Answer 20

Terrorism

Question 21

It is the use of violence or threat of violence in the pursuit of political, religious, ideological, or social objectives.

Answer 21

Deliberate attack from an adversary

Question 22

Types of events in risk management

Answer 22

Negative and Positive events

Question 23

Strategies to manage threats (4)

Answer 23

Avoid
Mitigate
Accept
Transfer

Question 24

___ should be capable of continual improvement and enhancement.

Answer 24

Risk Management

Question 25

Steps on risk management process (7)

Answer 25

Context establishment Identification of the potential risk Risk assessment Risk options Identification of potential risk management treatments Make a risk management plan Execute the plan

Question 26

Under context establishment

Answer 26

Identification Planning Plotting

Question 27

Classification of risk sources

Answer 27

Internal and External

Question 28

Determinants in choosing a method of identifying risks: (3)

Answer 28

Culture Industry practice Compliance

Question 29

Is the stage wherein the severity of the impact of the said risk is being weighed to make the most intelligent decisions for the full implementation of the risk management plan.

Answer 29

Risk assessment

Question 30

Techniques in managing risk (4)

Answer 30

Avoidance Reduction Sharing Retention