Deck 11: Risk Management: Legal and Financial Safeguards

Question 1

The four essential parts of a contract are:

A) Parties and offer
B) Consideration and acceptance
C) Liability, Insurance, Cancellation, and Indemnity
D) A & B

Answer 1

Liability, Insurance, Cancellation, and Indemnity

Question 2

A safe event environment implies that it is:

A) Somewhat safe
B) Primarily safe
C) Free from hazards
D) None of the above

Answer 2

None of the above

Question 3

A secure event environment is one that is:

A) Somewhat protected
B) Completely protected
C) Clean
D) Protected from future harm

Answer 3

Completely protected

Question 4

The legal, ethical, and safety-security aspects of your event can affect :

A) The Insurance premium
B) Licensure
C) Bottom line financial results
D) None of the above

Question 5

Additional contract terms include all of the following, except:

A) Terms
B) Cancellation
C) Force majeure (Act of God)
D) Spelling

Question 6

To play music at your live commercial event, you must first have a license from:

A) ASCAP
B) BMI
C) A and/or B
D) None of the above

Question 7

A risk assessment meeting could involve:

A) Admissions manager
B) Catering manager
C) Electrician
D) All of the above

Question 8

During the pre-event inspection you should confirm that:

A) Accreditation systems are in working order
B) Admissions personnel are in place
C) Doors are working properly in case of evacuation
D) All of the above

Question 9

Typical event insurance products include all of the following, except:

A) Comprehensive General Liability (CGL)
B) Cancellation
C) Automobile
D) Furious guest

Question 10

The term ART means:

A) Annoy, respond, treat
B) Avoid, reduce and transfer
C) Argue, react and trial
D) Arrogant, redundant and timely

Question 11

The parts of the risk management process include all of the following, except:

A) Assess
B) Ignore
C) Manage
D) Control

Question 12

Directors and Officers insurance provides coverage for:

A) Film and stage director
B) Members of Boards of Directors
C) Train directors
D) Any type of director

Question 13

Sarbanes-Oxley's legislation was established in:

A) New Guinea
B) Malaysia
C) United Kingdom
D) United States

Question 14

Event planners should show evidence of compliance with risk management procedures through:

A) Documentation
B) Discussion
C) Bulletin boards
D) Chat rooms

Question 15

The duty of care means:

A) You must meet the usual and customary standard of care concerning event safety
B) You have a duty to care deeply for others
C) You must show people how much you care for your caterer
D) You must use care when inviting people to your event

Question 16

You must have a permit in some jurisdictions to:

A) Conduct an event
B) Serve or sell alcohol
C) Sell raffle tickets
D) All of the above

Question 17

One way to reduce the risk for your event is:

A) Do not allow people to walk
B) Use drink tickets to limit alcohol consumption
C) Do not allow dancing
D) All of the above

Question 18

One way to transfer the risk from your event is to:

A) Purchase insurance
B) Tell others they are now at risk
C) Post signs telling people to attend at their own risk
D) Cancel the event

Question 19

One way to avoid risk is:

A) Do not sell alcohol
B) Do not allow bungee jumping
C) Do not allow sword fighting
D) All of the above

Question 20

The most common hazard at most events is:

A) Slips and trips by guests
B) Drunken guests
C) Singing by non-singers
D) Hysterical entertainers