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Module 8: Risk Management


A link to the answers will show up on the right under the Modules navigation bar as you scroll down.

1, What type(s) of risk can generally be controlled?

a. Internal risks
b. Systematic risks
c. External risks
d. Market risks

2. Creating a business plan that identifies every risk your business might face is possible.

a. True
b. False

3. While reviewing your business plan, you identified several risks that could halt, slow or affect the profit of your business. What should you do with these risks?

a. List them by name
b. Rank them by importance
c. Identify the potential cost
d. All of the above

4. If you need help with risks associated with your business, you should _______________.

a. Work the risks yourself
b. Seek outside assistance
c. Ignore the risks
d. Market the risks

5. Which of the following are common ways to avoid risk? Select all that apply.

a. Communicating risks you’ve identified to key employees.
b. Making your expectations clear to employees.
c. Developing support systems to care for your family’s needs.
d. Training staff on the business continuity plan.
e. Purchasing insurance.
f. Planning emergency contingencies.