Risk Management

Question 1

D.I.M. Process

Answer 1

developed as a tool to establish an effective risk management program.
Developing the risk management plan
Implementing the risk management plan
Managing the risk management plan

Question 2

Identification Stage

Answer 2

developing a successful risk management program
Categorize risks

Question 3

Public liability

Answer 3

caused by negligence in program services- bodily injuries

Question 4

Public liability (excluding negligence)

Answer 4

malpractice by personnel, product liability, intentional torts, employment practices, sexual harassment, and civil liberty violations

Question 5

Business operations

Answer 5

business interruption, embezzlement and theft, medical condition of employees, health of key personnel, and employee accidents and injuries

Question 6

Property exposures

Answer 6

financial risks related to the ownership of real and personal property

Question 7

Classification Stage

Answer 7

determine how often (frequency) the risk may occur and the degree (severity) of the potential loss arising from the risk.

Question 8

Treatment of Risk Stage

Answer 8

method used to reduce, control, manage, or eliminate financial risk and bodily injuries

Question 9

Avoidance (elimination) of risk

Answer 9

specific activities should not be included within the content of a program or they should be discontinued if they are presently being offered

Question 10

Transfer of the risk to another party

Answer 10

shifting of injuries or responsibility for loss (financial or bodily injury) from the service provider to another party

Question 11

Retention of the risk by recreation or sport organization

Answer 11

organization keeps the risk and assumes financial responsibility for certain injuries or financial losses that may occur

Question 12

Reduction of the risk

Answer 12

reduce the chance for injury as well as the probability of litigation