TRIP Risk Assessment & Mitigation 2

Question 1

A motor carrier operates routes through high-crime urban corridors at night. Which risk mitigation strategy most directly addresses cargo theft exposure?

Accepted Answer

Implement GPS tracking and secure parking protocols

Answer

GPS tracking combined with secure, approved parking locations directly reduces cargo theft frequency and aids recovery.

Question 2

In transportation risk assessment, a 'frequency-severity matrix' is used primarily to:

Accepted Answer

Prioritize loss exposures by likelihood and financial impact

Answer

The frequency-severity matrix helps risk managers rank exposures so resources are allocated to the most critical combinations of likelihood and impact.

Question 3

Which of the following is an example of risk avoidance in a transportation context?

Accepted Answer

Discontinuing operations in a hazardous material commodity class

Answer

Risk avoidance means eliminating the exposure entirely, such as exiting a hazardous commodity line rather than managing the associated risk.

Question 4

A fleet risk manager notices that rear-end collisions spike in winter months. The BEST initial step is to:

Accepted Answer

Conduct a root cause analysis of the seasonal pattern

Answer

Root cause analysis identifies underlying factors (road conditions, speed, following distance habits) that can then be addressed through targeted interventions.

Question 5

Under the TRIP framework, 'inherent risk' in transportation refers to:

Accepted Answer

The gross risk level before any mitigation measures are in place

Answer

Inherent risk is the baseline exposure existing in the absence of any controls, before mitigation efforts are considered.

(TRIP) Transportation Risk and Insurance Professional Practice Test

(TRIP) Transportation Risk and Insurance Professional Practice Test

TRIP Risk Assessment & Mitigation 2