TRIP Risk Management

Question 1

What is the first step in a transportation risk management plan?

Accepted Answer

Conduct risk identification

Answer

Purchase insurance coverage

Answer

Negotiate shipping contracts

Answer

Train drivers

Question 2

Which type of insurance typically covers cargo during transit?

Accepted Answer

Cargo insurance

Answer

Auto liability insurance

Answer

Property insurance

Answer

Workers’ compensation

Question 3

What is the purpose of risk mitigation strategies in transportation?

Accepted Answer

Minimize losses from potential risks

Answer

Eliminate all insurance needs

Answer

Ensure timely invoicing

Answer

Increase delivery charges

Question 4

Which federal agency regulates commercial motor vehicle safety in the U.S.?

Accepted Answer

FMCSA

Answer

FAA

Answer

EPA

Answer

OSHA

Question 5

Which of the following is a key element in evaluating transportation risk?

Accepted Answer

Reviewing loss history

Answer

Scheduling monthly meetings

Answer

Hiring more drivers

Answer

Increasing fuel budgets

Question 6

Why is driver training important in managing transportation risk?

Accepted Answer

To minimize accidents and violations

Answer

To reduce driver wages

Answer

To comply with warehouse rules

Answer

To improve GPS usage