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HCROWD > HCROWD LESSON 2 > Flashcards

HCROWD LESSON 2 Flashcards

1
Q

The risk identification could concern any of the following:

A
  • Natural hazards
  • Civil or political hazards
  • Technological hazards
  • Biological hazards
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2
Q

an extreme event that occurs naturally and causes harm to humans or to things
that we care about, though usually, the focus is on humans.

A

Natural Hazards

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3
Q

when an extreme event caused
harm in significant amounts and overwhelms the capability of people to cope and
respond.

A

natural disaster

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4
Q

the hazards being confronted by investors, corporations, and governments
brought about by the political decisions

A

Political Hazard

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5
Q

are hazards caused by circumstances in the society that could vastly
affect the society as a whole.

A

Civil hazards

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6
Q

are regulations or policies that would restrict international trade like
customs, tariffs, quotas, and other

A

Trade Barriers

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7
Q

people must pay taxes so that the
government would have something for giving quality services to the people.

A

Taxes are the bread and butter of the government

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8
Q

the ability to manage plus the political will are essentials to the proper
administration of any agencies for effective and efficient service to the people.

A

Administration

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9
Q

riots,
terrorism, coup d’état, insurrection, declaration of martial law, placing the country
under the state of national emergency could entirely give a negative impact to the
business operation in a country for long periods of time

A

The political instability of a country could vastly affect the tourism of a country

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10
Q

Technology may be considered as beneficial to the tourism industry in most of its
facet, the other side of this could be treated as a hazard because it is an effect of
the globalization of production, an increase of industrialization, and a certain level
of risk of accidents connected with production, processes, transportation, and
waste management

A

Technological Hazard

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11
Q

It pertains to biological substances that stance a
danger to the health of the living organism, chiefly humans.
- It may also include samples of microorganism, virus or toxin that can affect the
health of human

A

Biological Hazards

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12
Q

Give Examples of technological hazards.

A

Industrial pollution
* Nuclear Radiation
* Toxic Wastes
* Dam Failures
* Transport Accidents
* Factory Explosions
* Fires
* Chemical Spills

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13
Q

A good risk manager does not give an abrupt decision to solve a problem. TRUE OR FALSE

A

TRUE

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14
Q

There are two essential risk concepts that a student must understand

A

inherent risk and the residual risk

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15
Q

refers to the exposure arising from a specific risk before an
action is to be made by a risk manager

A

The inherent risk

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16
Q

the exposure arising from a specific risk after risk manager has
made any, and in case such action has proven useful.

A

The residual risk

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17
Q

The following issues must be addressed well in the risk identification.

A
  1. The cause of the event;
  2. Areas of impact;
  3. Enablers
  4. Events;
  5. Potential consequences
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18
Q

contains an analysis of the potential risk together
with the possible impact (high and low) and strategies to mitigate the derailment of
the project if the problems would arise.

A

The risk management plan

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19
Q

designed to lessen the possibility of risk impact before
the risk becomes realized.

A

The preventive strategy

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20
Q

on the other hand, is designed to address the issue of risk
at the time of the happening of the event.

A

Contingency strategy

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21
Q

Risk managers may take any of the following either as prevention or
contingency to address the issue of risks concerning business?

A

Risk Avoidance
* Risk Reduction
* Risk Transfer
* Risk Retention

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22
Q

refers to the complete elimination of risk by merely avoiding the
activities with attaching potential risks.

A

Risk Avoidance

23
Q

refers to the reduction of risk level through minimizing either the
likelihood and consequences of a specific risk level through the implementation of
precautionary measures, risk controls or treatments

A

Risk Reduction

24
Q

There are different government regulations that the business owners of
establishments related to tourism must comply with as part of its initiative to
assure health and safety to guests? GIVE 2

A
  1. Fire Code of the Philippines
  2. Sanitation Code
25
Q

To mitigate the loss of life and property, the management must comply with
standards set by the

A

Fire Code of the Philippines.

26
Q

is another vital area that needs attention in the field of tourism
considering the proliferation of restaurants and hotels where the tourism industry
is booming.

A

Sanitation

27
Q

emphasized the need to secure a
sanitary permit which is a condition sine qua non to start operating a food
establishment.

A

Sanitation Code of the Philippines (PD 856)

28
Q

when the burden is being shifted from one party to
another, from individuals to an insurance company, or from insurers to reinsurers.
- It allocates risk equitably, placing responsibility for risk on designated parties
consistent with their ability to control and insure against that risk.

A

Risk Transfer

29
Q

Risk transfer may be accomplished through any of the following:

A
  1. Outsourcing
  2. Derivatives
  3. Contracts
  4. Insurance
30
Q

A process which commonly transfers a variety of risks to a partner.

A

Outsourcing

31
Q

may be defined as “financial contracts whose value is derived from
some underlying asset. These assets can include equities and equity indices, bonds,
loans, interest rates, exchange rates, commodities, residential and commercial
mortgages, and even catastrophes like earthquakes and hurricanes

A

Derivatives

32
Q

is a non-insurance risk transfer mechanism that
accomplishes the goals of risk financing and risk control. Essentially, it allows the
upper-tier or upstream contractor to tap into the finances of the lower-tier or
downstream party.

A

Contractual risk transfer

33
Q

when an insured derives benefit from the continuous existence, without impairment or
damage, of the insured object

A

principle of insurance interest

34
Q

was define as the amount equal to the replacement cost
minus depreciation of a damage or stolen property at the time of loss

A

actual cash value

35
Q

is the legal substitution of one person in another’s
place. It gives the insurer the right to collect from the third party after paying its
insured’s claim

A

principle of subrogation

36
Q

In this principle, one of the parties is being left with no choice except to adhere to
the terms and conditions of the insurance prepared by the other party.

A

The Principle of
Adhesion

37
Q

Insurance contracts are personal contracts, and thus insurance contracts can
be freely transferred to the other parties. TRUE OR FALSE

A

FALSE

38
Q

it is the concept of risk management wherein the managers instead of looking for
somebody that could help them attend to issues of risk would rather keep it and
resolve for themselves.

A

Risk Retention

39
Q

may be defined as anybody who can affect or be affected by the
strategy or project of an organization.

A

stakeholder

40
Q

are the ones who have a direct relationship with the
company such as employee, owners, and investors

A

Internal stakeholders

41
Q

Those who do not have a direct relationship but could be affected by the actions
of the management are considered as

A

external stakeholders

42
Q

is a way of practicing the actual evacuation system in a building or
tourism-related establishments in case of fire or another emergency. The fire alarm
would usually activated in a building signaling the mock occurrence of the
emergency.

A

fire drill

43
Q

s done in anticipation of an intruder or criminal act within the
vicinity of tourism-related establishment or activities. An announcement about the
immediate lockdown will be given to all to effectuate this method.

A

Lockdown drill

44
Q

used as a way of preparation for the coming of an earthquake.
“Drop, cover, and hold on” is used during the drill.

A

Earthquake drill

45
Q

The risk management during the test planning involves three essential stages

A

risk identification, risk impact analysis, and risk mitigation.

46
Q

the listing of all the potential risk that might affect the full
execution of the activities pertinent to the industry of tourism.

A

risk identification

47
Q

comes next after all the risks are listed during the collective activity.
The chance of occurrence of the risk and the amount of loss that might come will
be weighed and determined accordingly.

A

Risk analysis

48
Q

Is the process of finding solutions in anticipation of the problems
that may arise in every situation.

A

Risk mitigation

49
Q

defined as the information exchange involving risk-related factors
among the assessors, managers, consumers, and other interested parties.

A

Risk Communication

50
Q

before communicating a risk, it is essential to take note of the following
considerations:

A

1Who the audiences are
2. The credibility of the source of information
3. Sharing of responsibility
4. Transparency

51
Q

emphasized the structural requirements for business establishment like floors, walls, ceilings, ventilation, and lighting.

A

Section 3-E of sanitation code

52
Q

Proper storage of goods was also underscored in the Code as requiring
establishments to keep perishable goods refrigerated at_____degrees Celsius and __________
degrees Celsius when such foods are to be stored for extended periods.
Observance of the safety standards

A

7 and 4 degrees Celsius

53
Q

The handing over to a third party of direct control over a business function may
not produce good results all the time. T OR F

A

TRUE

54
Q

Insurance contracts are not personal contracts, and thus insurance contracts can be freely transferred to the other parties. TRUE OR FALSE

A

FALSE

HCROWD (10 decks)

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