CSP Domain 3: Risk Management Flashcards by Steve Waltz

What is a limited scope audit

Examines only one program at a time, which allows for increased thoroughness and efficiency

Ex. Hearing conservation program

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What method is the MOST effective at determining potential problems in a system?

Failure Mode and Effect Analysis

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Poor countermeasures and a weak causation analysis are examples of

Safety Program Defects

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Designation for risk management professionals from The National Alliance for Insurance Education and Research

Certified Risk Manager (CRM)

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What are the 3 dimensions of measurement when discussing health and safety performance?

Capability, Compliance, and Deployment

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What is an accurate definition or formula to measure loss ratio?

(Losses)/ ((Premium)*(Emod))

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What is the difference between loss prevention and loss reduction

Prevention-reduces the likelihood a loss will occur -Training

Reduction-reduces severity of a loss- Installing firewalls, sprinklers, and equipping a fire brigade

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What is the final step in the risk management?

Administering the process

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List the major elements of an effective health and safety program:

Management Comittment
Employee Involvement
Worksite Analysis
Hazard Prevention and Control
Health and Safety Training.

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Designation for risk management professionals from Institutes for Risk and Insurance Knowledge Group

Associate in Risk Management (ARM)

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What are the three levels of accident causation?

Direct causes
Indirect causes
Basic/Root causes

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What is the William Fine method for?

To decide if there is a justification for the cost to correct a hazard and how quickly to react.

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How does Fine’s risk method calculate a risk score?

Consequences * Exposure * Probability

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What determines the overall risk assessment using a risk matrix

The highest level of risk

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Risk analysis method for allocating funds to achieve the greatest risk reduction across several departments within a plant

Logical process risk analysis

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What is true of enterprise risk management

Prioritizes and manages exposures as a comprehensive group (not individual clusters)
Designed to emphasize a wide array of risks
Applies to a broad range of functions

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Which calculation is used to evaluate when an investment will pay for itself based on savings

Time value of money

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Hierarchy of controls from most effective to least preferred

Elimination
     Substitution
          Engineering
                Administration
                      PPE

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Partial injury

When an employee can still work after being injured but cannot perform normal tasks

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What are the four major factors that should be investigated with each incident?

Human
Management Systems
Work Environment
Equipment/Tools

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What needs to be identified during an incident investigation:

Management system that failed
Unsafe act or conditions that led to a release of energy
Source of the energy that was release

*Should not focus on finding fault or fixing blame

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What are risk perception factors that lead to overestimation?

Unknown
not understood
uncommon
dramatic
Media coverage
Controversial
you in control
non-voluntary
work risks
many injuries/events

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What is a limit to cost-benefit analysis?

Not all cost and benefits can be easily converted to quantitative or financial terms

According to the Severity Rating Table, catastrophic severity is:

Ideath or permanent disability,

complete project failure or the loss of ability to complete the project, and

loss of major critical systems or equipment

According to the Hazard Probability rating table what is the ratio for an incident to be considered occurring SPORADICALLY?

Occur occasionally but less often than 1/1000 exposures

According to the Severity Rating Table, negligible severity includes:

First aid or minor medical treatment, little or no adverse impact on project capability, and slight equipment or system damage.

When dealing with worker compensation claims, if en employee has a pre-existing condition and it is not documented, how would workers comp handle the claim?

Would have to pay 100% for new injury

What are two key control measures for implementing controls?

The cost of the control and the degree of hazard reduction.

What are the 5 controls included in the control development and decision-making process?

- Support - Standards - Training - Leadership - Individual

Why is it important for the safety professional to know basic financial information?

To justify safety recommendations

What is the maximum number of “days away” that can be recorded for a single injury on an OSHA log?

180 days

Who is responsible for making sure that controls are implemented throughout the risk management process?

Managers and supervisors

What is the leading cause of fatalities in crane operations

Contact w electrical power lines

What part of assessing the exposure of chemicals is the scaling factor between species related to?

Dose/Response assessment

According to the Severity Rating Table, critical severity is:

Includes permanent partial disability or temporary total disability of employees, severely degraded project capability, and extensive major damage to equipment or systems.

Provides detailed information about the cost of a workers compensation claim

Company loss runs

According to the Hazard Probability rating table what is the ratio for an incident to be considered LIKELY to occur?

1/1000 One out of every 1000 employees performing task

When dealing with workers’ compensation insurance premiums, the average rate for a particular class of work is called what?

Book rate or manual rate

Insurance companies use a multiplier to calculate and provide worker’s comp insurance which is known as:

EMR = (adjusted actual losses + ballast)/(expected losses + ballast)

According to the Hazard Probability rating table what is the ratio for an incident to be considered to occur FREQUENTLY?

1/500 Injury occurs once out of every 500 exposures

Temporary Injury

One which employee is expected to completely recover | Ex. Sprained ankle

When calculating employee modification rate, what is an accurate description of ballast?

An amount added to both the numerator and denominator of the EMR formula to reduce the differences between large credits and large debts

According to Heinrich, for every serious/fatal accident, there are:

29 minor accidents 300 near misses He postulated these numbers without being able to verify their accuracy

A number used to calculate workers comp premiums

E-mod Notes: It is long term indicator of safety performance. Takes into account 3 of the 4 previous years. E-Mod of 1 is industry avg. 0.5 is excellent and means your companies premiums cost 50% of industry avg. The number of compensate claims (small claims) has a greater effect on E-Mod than a single costly claim

Total injury

When an employee is so injured on the job that they cannot work

What is the primary purpose of incident investigation?

To prevent future accidents from occurring

According to Frank E. Bird’s theory, for every serious/disabling injury there are:

10 minor injuries 30 property damage incidents 600 incidents with no damage or visible injury Was able to derive this data empirically from looking through companies loss histories

Permanent injury

Workplace injury which an employee will not recover from

The most appropriate technique to use to analyze system safety at small job sites is:

Job Safety Analysis

The primary reason for safety inspections is:

Identify and correct workplace hazards

What are the 4 steps of a chemical risk assessment?

- Hazard identification - Dose-response assessment - Exposure assessment - Risk characterization

What are the three basic methods for assessing effectiveness of any safety and health program?

Document review and verification Employee interviews Site condition reviews

What is false about warning hazards

Depend on people to take actions that will prevent them for being exposed True: They are effective only if humans perceive them, do not remove a hazard, prevent access to a hazard

What are considered active safeguards in fall protection?

Personal Fall Arrest System | Requires action by the wearer

What are considered to be passive safeguards in fall protection?

Guardrails Safety nets Hole covers

What are Type I policy errors?

Having too stringent regulations - creates false positives - imposes unnecessary costs on produces - increases public fears

What are type II policy errors?

Having regulations not stringent enough - creates false negatives - can expose citizens and environment to preventable risks