Risk Management, Debt and Bankruptcy and Negotiable instruments

These are steps taken by a business to prevent risk from Occurring

A credit line with a limit that you can draw from as needed

You would file this type of Bankruptcy if you were an company that was restructuring and needed time to repay debts

A business must offer COBRA insurance to employee it lays off if they were previously covered by company health Ins

You would file this type of Bankruptcy if you were an individual with a job needed time to repay debts

Personal Bankruptcy will stay on your credit for up to 10 years

Identify which of the following could be considered Good Debt

Debt to income ratio should be higher than 40%

which of these negotiable instruments did we NOT discusss in class

Which of the following is NOT a form of speculative Risk

which of these is NOT a function of a negotiable instrument

This insurance provides medical coverage for you and/or business employees

Vehicle Coverage - this part of insurance covers the other people injuries if you are at fault in an accident

A document guaranteeing the payment of a specific amount of money to a specific person known as a Negotiable Instrument

Vehicle Coverage - covers damage to your vehicle when it is involved in an accident, regardless of fault

The process by which all possible risk are considered and most significant are identified by a business

A person who receives the Negotiable instrument and has right to payment

This insurance is a program used as the payment for workers when they are laid off or terminated from a job

In the image below Neverland Imaginary Bank would be who?

In the image below would be who?

When a business refuses to engage in a particularly hazardous activity

An expense that changes frequently over time - such as Food cost

This insurance covers the loss and/or damage of buildings, equipment, furniture and fixtures

This refers to the termination of the instrument and liability of the parties

You would file this type of Bankruptcy if you were an individual without a job or assets to repay your debt

An income the remains constant over time - such as monthly pay check

Risk Management - anything that may cause a loss

In the image below Captain Hook would be who?

In a Bill of Exchange many times the Drawer is also the Payee.

In the image below Tinker Bell would be who?

The act of a person signing their name to an instrument

Risk Management - the failure to take ordinary or resonable care to prevent accidents

Vehicle Coverage - covers damage to your vehicle due to theft, vandalism, weather, fire or other perils

You would file this type of Bankruptcy if a municipality needed time to repay its debts

You would file this type Bankruptcy if you were a family farm that had 80% of debt resulting from this business expense

Bad debt is borrowed money to purchase items that depreciate in value for personal use

Risk Management - anything that may increase the likelihood of loss through some peril

A negotiable instrument must be signed by the maker or the drawer

Bodily Injury liability covers Your physical injuries if you are in an auto accident

Student loans are considered good debt that is open ended credit