Risk Management & Compliance Flashcards
7 cards from real CCEP practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 7 Risk Management & Compliance flashcards as text
A venue's sprinkler system activates accidentally during a conference session, damaging exhibitor booths. Which party is MOST likely responsible for uninsured losses?
Answer: Responsibility depends on negligence findings and applicable contracts
Liability for accidental venue system failures is determined by negligence, indemnification clauses, and each party's insurance coverage as outlined in contracts.
Which document outlines the specific procedures staff should follow if a medical emergency occurs during an event?
Answer: Emergency action plan (EAP)
An Emergency Action Plan (EAP) details step-by-step procedures for responding to medical and other emergencies during an event.
An event planner discovers that a contracted speaker is not legally permitted to work in the US without a specific visa. Which compliance area does this primarily fall under?
Answer: Immigration and employment law
Engaging foreign nationals to perform paid work requires compliance with US immigration law, including appropriate visa classification.
What is the primary purpose of a 'risk appetite statement' in event risk management?
Answer: To define the level of risk the organization is willing to accept
A risk appetite statement establishes the boundaries of acceptable risk, guiding decision-making throughout the event planning process.
An outdoor festival organizer wants to protect against financial loss if an event must be cancelled due to extreme weather. Which insurance product best addresses this?
Answer: Event cancellation/weather insurance
Event cancellation insurance, including weather-specific riders, covers financial losses from cancellations caused by named perils like severe weather.
When conducting a post-event risk debrief, which action provides the MOST value for future risk planning?
Answer: Documenting both near-misses and actual incidents with root cause analysis
Recording near-misses alongside actual incidents and analyzing root causes creates an institutional knowledge base that strengthens future risk mitigation.
A conference is held in a state with a mandatory data breach notification law. The event's registration system is hacked and attendee data is exposed. What is the organizer's FIRST compliance obligation?
Answer: Notify affected individuals and relevant authorities within the legally required timeframe
State data breach notification laws require timely disclosure to affected individuals and often to state attorneys general or regulators within specified deadlines.