Risk Management Flashcards
6 cards from real TRIP practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 6 Risk Management flashcards as text
What is the first step in a transportation risk management plan?
Answer: Conduct risk identification
The first step is identifying risks associated with transportation operations, such as cargo damage or vehicle accidents.
Which type of insurance typically covers cargo during transit?
Answer: Cargo insurance
Cargo insurance protects goods from loss or damage while in transit by land, sea, or air.
What is the purpose of risk mitigation strategies in transportation?
Answer: Minimize losses from potential risks
Risk mitigation strategies aim to reduce the likelihood or impact of transportation-related incidents.
Which federal agency regulates commercial motor vehicle safety in the U.S.?
Answer: FMCSA
The FMCSA is responsible for regulating and providing safety oversight of commercial motor vehicles.
Which of the following is a key element in evaluating transportation risk?
Answer: Reviewing loss history
Evaluating risk includes analyzing historical loss data to identify trends and vulnerabilities.
Why is driver training important in managing transportation risk?
Answer: To minimize accidents and violations
Training drivers in safety procedures and defensive driving helps prevent accidents and improves compliance.