Deck 1: Introduction to Law and Management in Sport

Question 1

In the preventive law process, which of the following represent the first step?

A) Risk identification - The legal audit
B) Development of the preventive law plan
C) Implementation of the preventive law plan
D) Risk Evaluation

Answer 1

A

Question 2

What is the fourth step in the preventive law process?

A) Risk identification - The legal audit
B) Development of the preventive law plan
C) Implementation of the preventive law plan
D) Risk Evaluation

Answer 2

B

Question 3

Which of the following is not part of the implementation process of the preventive law plan?

A) Developing unambiguous and efficient policies and procedures
B) Design effective training program
C) Drafting clear and workable contracts and administering them consistently
D) Identify the risks involved with the activity

Answer 3

D

Question 4

What is the most common risk transfer method?

A) Insurance
B) Using an independent contractor
C) Using waivers
D) Using indemnification clauses

Question 5

_______________ is a broader approach that looks at all risks that could affect an institution's financial health.

A) Risk management
B) Risk transfer
C) Risk elimination
D) Preventive law

Question 6

__________ means that your organization chooses to bear the financial consequences of an activity.

A) Risk retention
B) Risk control
C) Risk elimination
D) Risk transfer

Question 7

_________ is the key aspect of the preventive law plan since it involves the actual reduction of risk.

A) Risk control
B) Risk retention
C) Risk evaluation
D) Risk assessment

Question 8

The approach to risk identification should be:

A) Focused only on personal injury risks
B) Focused only on property damage issues
C) Holistic
D) Piecemeal

Question 9

The traditional view of risk management is often confined to risks related to a personal injury lawsuit or property damage claim.

Question 10

Adopting a "preventive law" view encompasses a broader view of all risks that could affect an institution.

Question 11

The first step in the preventive law process is to engage in risk evaluation.

Question 12

Risk assessment deals with determining the probability that particular risks will result in claims and the magnitude of the potential liability arising from those claims.

Question 13

Risk transfer means that your organization chooses to bear the financial consequences of an activity.

Question 14

Risk control involves the actual reduction of risk.

Question 15

Risk evaluation involves the use of methods to transfer risks of financial loss to another party.

Question 16

Risk elimination is the method most commonly adopted to cope with risks.

Question 17

The preventive law plan should be incongruent with your organization's core values.

Question 18

The preventive law process should be undertaken only once and then forgotten.

Question 19

Define both risk management and preventive law.

Question 20

How can sport organizations use law as a competitive advantage?

Question 21

The preventive law process includes five distinct steps. Please identify and explain the essential elements of each of the five steps and discuss the importance of each step.