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1. Which of the statements below best describes the concept of Enterprise Risk Management?
• Management of a single function of an organization that, upon implementation and testing, is then processed entity wide
• People, systems, and processes working together across the organizations to systematically thin about and manage a wide range of risks that could impede achieving organizational objectives/opportunity
• An approach that capitalizes on human intervention as processed through real change leaders
• A process affected by an entity’s leaders, management, and other personnel that is designed to identify potential events that may affect the entity, and to manage risk
2. Diane bought an action figure for her son David from Terrence’s Toy Shop. The packaging did not mention that the toy contained small detachable parts. David accidentally swallowed and choked on one of the detachable parts and had to be taken to the hospital. On which of the following product liability charges can Diane sue Terrence’s Toy Shop for damages?
• Nuisance
• Misrepresentation
• Fraud
• Negligence
3. Making false statements about a competitor’s products, services, property, or business reputation could make a company liable for
• tort of appropriation
• intentional misrepresentation
• disparagement
• misappropriation of the right to publicity
4. A plaintiff wants to sue a defendant under the tort theory of negligence for his injuries, but the plaintiff knows he was partially at fault for his own injuries. Which of the following is true?
• A state whose law applies contributory negligence will not allow the plaintiff to recover if the plaintiff has any fault for his injuries
• If the plaintiff's fault is only 5 percent, his recovery will be the same under either pure or partial comparative negligence.
• The plaintiff will have to
1. Which of the statements below best describes the concept of Enterprise Risk Management?
• Management of a single function of an organization that, upon implementation and testing, is then processed entity wide
• People, systems, and processes working together across the organizations to systematically thin about and manage a wide range of risks that could impede achieving organizational objectives/opportunity
• An approach that capitalizes on human intervention as processed through real change leaders
• A process affected by an entity’s leaders, management, and other personnel that is designed to identify potential events that may affect the entity, and to manage risk
2. Diane bought an action figure for her son David from Terrence’s Toy Shop. The packaging did not mention that the toy contained small detachable parts. David accidentally swallowed and choked on one of the detachable parts and had to be taken to the hospital. On which of the following product liability charges can Diane sue Terrence’s Toy Shop for damages?
• Nuisance
• Misrepresentation
• Fraud
• Negligence
3. Making false statements about a competitor’s products, services, property, or business reputation could make a company liable for
• tort of appropriation
• intentional misrepresentation
• disparagement
• misappropriation of the right to publicity
4. A plaintiff wants to sue a defendant under the tort theory of negligence for his injuries, but the plaintiff knows he was partially at fault for his own injuries. Which of the following is true?
• A state whose law applies contributory negligence will not allow the plaintiff to recover if the plaintiff has any fault for his injuries
• If the plaintiff's fault is only 5 percent, his recovery will be the same under either pure or partial comparative negligence.
• The plaintiff will have to