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Risk Management > Deck 1 > Flashcards

Deck 1 Flashcards

1
Q

Risk Management

A

A process that involves recognizing, confronting and preparing for any potential threat to your property, residents, contractors, visitors and employees.

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2
Q

Risk Analysis Process

A

Identify, Analyze, Eliminate, Build, Create

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3
Q

Types of Financial Risk

A

Fraud, Theft, Embezzlement

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4
Q

FACTA

A

Fair and accurate credit transactions act

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5
Q

Resident Risks

A

property, crime deterrence, environmental hazards

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6
Q

Habitability

A

level of maintenance you have to provide

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7
Q

Federal Pool Safety

A

Anti-entrapment standards- drain covers

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8
Q

Virgina Grahamn Baker

A

pools with a single main drain MUST be equipped with one or more anti-entrapment systems

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9
Q

Crime Deterrence

A

residents are concerned about their personal safety and security. Property managers must take the appropriate steps to discourage criminal activity

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10
Q

Environmental Governing Agencies

A

EPA (environmental protection agency), OSHA (Occupational Safety and Health Admin), State/County Health

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11
Q

Types of Environmental Hazards

A

Asbestos, Freon, Lead, Radon, Carbon Monoxide, Mold, Meth Labs

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12
Q

Asbestos

A

a mineral that is supposed to be inextinguishable when set on fire that is found in older homes (prior to 1981) pipe and furnace insulation, etc. (airborne) OSHA regulated.

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13
Q

Freon

A

a gas that is used in appliances and HVAC systems to provide cooling. (must be licensed) (illegal to vent)

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14
Q

Lead

A

heavy metal found in paint, soils, lead pipes, and lead based solder used in copper pipes. Can cause lead poisoning in excess. EPA lead safety regulations. Resident notification.

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15
Q

Radon

A

radioactive gas emanating from uranium rich soil or water. Can enter through water supply. Test for radon. EPA booklet made available.

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16
Q

Carbon Monoxide

A

poisonous, colorless, odorless gas that is produced when fuel burns incompletely. Regulations very state to state.

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17
Q

Mold

A

excessive moisture causes mold growth, particularly if the moisture problem is unaddressed. Moisture management plan needed.

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18
Q

Meth Labs

A

apartments that have been used for meth production. Each state has own regulations.

19
Q

OSHA

A

HCS (hazard communication standard), lockout/tag out, bloodborne pathogens, PPE, electrical safety, OSHA record keeping

20
Q

Hazard Communication Standard (HCS)

A

intended to educate employees about hazardous chemicals they work with, how to use them, and avoiding accidents. Comply by addressing hazardous chemical labeling, safety data sheets (SDS), written hazard communication plan.

21
Q

Chemical Storage and Use

A

Original Container- make SDS available to employees that notes the potential for health or physical hazards. Non-original container- labels are recommended but not required if using contents immediately. Required if not emptied by end of shift.

22
Q

Safety Data Sheets (SDS)

A

a document that describes the health and physical hazards associated with a particular chemical.

23
Q

SDS Employer Responsbilities

A

have SDS for each hazardous chemical, liquids solids and gases. provide to and train staff

24
Q

Lockout/tagout standard

A

placing locks and tags on electrical switches, liquid/gas valves, other energy control points. Types of employees authorized- doing service, affected- affected by service.

25
Q

Personal Protective Equipment

A

PPE must be kept in good condition.

26
Q

Electrical safety-related training

A

phase 2- only electricity. Qualified and unqualified employees.

27
Q

OSHA 300A

A

mandatory form must be posted on job injuries Feb. 1-Apr 30.

28
Q

Emergency Plans

A

the goals is to minimize impact to residents, staff and business operations

29
Q

Areas of High Risk

A

proximity, adjacent properties, weather, residents, property arrangement, property infrastructure

30
Q

Liability

A

predicated on negligence including a duty owed, a breach of that duty, and damages resulting directly therefrom.

31
Q

Negligence

A

an unreasonable response to a foreseeable risk

32
Q

Loss Prevention and Control

A

Loss prevention- being proactive in preventing losses. Control- doing everything you can to mitigate the impact of the loss once it occurs.

33
Q

Loss control

A

have good liability insurance. The risk can be contained through the use of deductibles or higher self-insured retentions.

34
Q

Types of insurance

A

property insurance, fidelity(fraud/theft) insurance, third party liability, workers comp

35
Q

3 property aspects to protect through risk managemetn

A

property, people, goodwill

36
Q

What is the most common risk management strategy?

A

finance the risk

37
Q

When minimizing financial risk, what are three areas to consider

A

income/fees/cash, physical property, records/screening

38
Q

What are the 3 highest liability areas?

A

Property hazards, environmental hazards, crime deterence

39
Q

What are the responsibilities to provide habitability?

A

repair and maintenance to reduce safety hazards, maintaining required housing habitability

40
Q

When/how can you communicate to residents about their safety

A

during lease signing, with notice letters, during resident meetings, in the community newsletter

41
Q

The maintenance technician was using hazardous chemicals during his shift. What should he do at the end of his shift?

A

empty and clean the container

42
Q

What are the written requirements for PPE?

A

The standard does not require a written program but does require a written assessment and documentation exposures

43
Q

What is the purpose of an emergency drill?

A

to ensure that all aspects of the evacuation can be fully executed

Risk Management (8 decks)

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