Risk Management

Question 1

The ongoing process of assessing the risks that may threaten attendees, the meeting or event itself, the organizer, or partner-suppliers, and applying the appropriate measures to manage the profitability and consequences of such risks.

Answer 1

Risk Management

Question 2

What are the four basic stages of risk management?

Answer 2

Preparedness
Response
Recovery
Mitigation

Question 3

The process of identifying the risks specific to the destination, meeting, or business event being planned

Answer 3

Risk Assessment

Question 4

What is SWOT?

Answer 4

Strengths, Weaknesses, Opportunities, Threats

Question 5

What are the 3 categories of threats?

Answer 5

Natural Disasters
Human-Caused
Technological

Question 6

Reasonable steps taken by a person in order to satisfy a legal requirement, especially in buying or selling something.

Answer 6

Due Diligence

Question 7

An individual who uses good judgment or common sense in handling practical matters.

Answer 7

Reasonable Prudent Person

Question 8

Failure to use proper care

Answer 8

Negligence

Question 9

Transferring the risk to someone else, such as insurance or contracts

Answer 9

Mitigation

Question 10

A contractual agreement between two parties and are closely tied to insurance.

Answer 10

Indemnification

Question 11

A legal document that is signed by a person participating in an event or activity that verifies that the participant acknowledges and assumes the risks involved in participating

Answer 11

Waiver of Liability