Loss Prevention Flashcards
7 cards from real CPHRM practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 7 Loss Prevention flashcards as text
A risk manager is evaluating the financial impact of retaining risk versus purchasing insurance. This analysis is BEST described as:
Answer: Cost-benefit analysis of risk financing
Comparing the costs of self-retention against insurance premiums and coverage is a cost-benefit analysis within risk financing decision-making.
Which of the following BEST defines 'claims-made' insurance coverage?
Answer: Coverage for incidents that occurred and are reported during the policy period
A claims-made policy provides coverage only if the incident occurred and the claim is reported while the policy is in force.
Which legal doctrine holds hospitals responsible for the negligent acts of their employed physicians?
Answer: Respondeat superior
Respondeat superior ('let the master answer') holds employers vicariously liable for the negligent acts of employees acting within the scope of their employment.
What is the primary purpose of a healthcare organization's risk register?
Answer: To document and prioritize identified risks across the organization
A risk register is a centralized tool that documents identified risks, their likelihood, potential impact, and mitigation strategies.
Which action BEST reduces the risk of patient elopement in a psychiatric facility?
Answer: Implementing a structured risk assessment at admission and ongoing monitoring
Structured elopement risk assessment at admission, with regular reassessment, guides targeted interventions to prevent unauthorized patient departure.
A hospital is sued for negligent credentialing of a physician. This claim is based on the doctrine of:
Answer: Corporate negligence
Corporate negligence holds the hospital directly liable for failing to fulfill its duty to properly credential and supervise medical staff.
Which type of hazard analysis is used to evaluate the safety of a new clinical process before it is implemented?
Answer: Proactive hazard analysis (e.g., FMEA)
Proactive hazard analysis such as FMEA is applied to new or redesigned processes to identify failure modes before the process goes live.