Real Estate Risk Management: Definition & Insurance


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question 1 of 3

What of the following statements is correct about insurance premiums and deductibles?

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1. Which of the following cases would be covered by a general liability insurance policy?

2. Which of the following business structures grants the owner limited liability protection from business debts?

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About This Quiz & Worksheet

Rick management is used in almost every type of business. By identifying possible risks, it is easier to plan for such risks and have criteria in place to control them. Quiz questions will focus on topics such as insurance and liability.

Quiz & Worksheet Goals

Quiz questions will test you on the following:

  • Insurance premiums and deductibles
  • General liability insurance coverage
  • Limited liability protection from business debts
  • Lawsuits pertaining to errors and omissions on insurance policies
  • Principles of risk management

Skills Practiced

  • Reading comprehension - ensure that you draw the most important information from the lesson in regards to the principles of risk management
  • Making connections - use your understanding of how errors and omissions in insurance policies could impact a lawsuit
  • Knowledge application - apply knowledge about liability protection from business debts to answer a quiz question

Additional Learning

By reviewing the lesson Real Estate Risk Management: Definition & Insurance, you will learn more about:

  • How insurance premiums are determined
  • Types of liabilities an insurance policy may cover
  • Definition of risk mitigation