Question 1

Completion bonds protect an employer against employee dishonesty.

Accepted Answer

Completion bonds are used in the film industry to ensure that a project is completed on time and within budget, not to protect against employee dishonesty.

Question 2

Key employee insurance covers against claims from employees for employment practices:sexual harassment, wrongful discharge, discrimination, breach of contract, libel.

Accepted Answer

Key employee insurance is designed to protect a business against financial loss due to the death or disability of a key employee, not against employment practices claims. Employment practices liability insurance (EPLI) covers claims related to employment practices.

Question 3

Insurance coverage to ensure that work on a contract is completed as agreed is known as ____________ ______________.

Accepted Answer

The answer of Insurance coverage to ensure that work on...

Question 4

You can protect yourself from a dishonest bookkeeper by purchasing a(n) __________ ________.

Accepted Answer

The answer of You can protect yourself from a dishonest...

Question 5

A group consisting of labour and management representatives who meet on a regular basis to deal with health and safety issues is known as a ___________________ _____________________ ____ ___________________ _________________________.

Accepted Answer

The answer of A group consisting of labour and management...

Question 6

Insurance that covers injury to the public, such as customer use or misuse of products, is known as ____________________ ___________________.

Accepted Answer

The answer of Insurance that covers injury to the public,...

Question 7

An alternative strategy for bailing a business out of a tight spot created by some unforeseen or unfortunate situation is called a __________ __________.

Accepted Answer

The answer of An alternative strategy for bailing a business...

Question 8

In a small business, health and safety is the responsibility of _________________.

Accepted Answer

The answer of In a small business, health and safety...

Question 9

The acronym for the comprehensive national plan for providing information on the safe use of hazardous materials used in Canadian workplaces is _________.

Accepted Answer

The answer of The acronym for the comprehensive national plan...

Question 10

Insurance is only one of the options to reduce ________________.

Accepted Answer

The answer of Insurance is only one of the options...

Question 11

List 10 business start-up concerns that could help you to reduce or eliminate potential surprises.

Accepted Answer

The answer of List 10 business start-up concerns that could...

Question 12

Briefly explain the following types of business insurance:
  consequential loss insurance
  public liability insurance
  business interruption insurance
  errors and omissions insurance
  employment practices liability insurance
  fidelity bonding
 completion bonding

Accepted Answer

The answer of Briefly explain the following types of business...

Question 13

As a small business, are you required to have a joint health and safety committee? Briefly explain your

Accepted Answer

The answer of As a small business, are you required...

Question 14

With respect to health and safety in the workplace, briefly explain the meaning and purpose of the Workplace Hazardous Materials Information System (WHMIS).

Accepted Answer

The answer of With respect to health and safety in...

Question 15

Explain the meaning of the term due diligence in relation to health and safety issues.

Accepted Answer

The answer of Explain the meaning of the term due...

Question 16

Briefly describe the differences between employment practices liability insurance, key employee insurance, and product liability insurance.

Accepted Answer

The answer of Briefly describe the differences between employment practices...

Question 17

If you are planning to operate your business out of your home, you can choose from three basic types of home protection insurance policies. Briefly explain each of these types of policies.

Accepted Answer

The answer of If you are planning to operate your...

Quiz 9: Risk Management Issues

Completion bonds protect an employer against employee dishonesty.

Key employee insurance covers against claims from employees for employment practices:sexual harassment, wrongful discharge, discrimination, breach of contract, libel.

Insurance coverage to ensure that work on a contract is completed as agreed is known as __.

You can protect yourself from a dishonest bookkeeper by purchasing a(n) __ .

A group consisting of labour and management representatives who meet on a regular basis to deal with health and safety issues is known as a _________ _ _ _________________.

Insurance that covers injury to the public, such as customer use or misuse of products, is known as __ _.

An alternative strategy for bailing a business out of a tight spot created by some unforeseen or unfortunate situation is called a .