Risk Management IMDP Study Guide
Questions and Answers
True - correct answer ✔✔(True or False) The final responsibility for the success of the
management of risk rests with our FRATERNITY, its CHAPTERS and the MEMBERS.
Risk Aversion - correct answer ✔✔What is the first line of defense in liability matters?
Loss Prevention - correct answer ✔✔What is the second line of defense in liability matters?
Loss Control - correct answer ✔✔What is the third line of defense in liability matters?
Insurance - correct answer ✔✔What is the final line of defense in liability matters?
True - correct answer ✔✔(True or False) Whenever hosting an event, a Chapter, District or
Region, must ensure that the event has insurance coverage.
True - correct answer ✔✔(True or False) Chapters , Districts or Regions, can be held liable for
alcohol related accidents as well as any property damage that occurred during the event by
non-members.
1. Be in Good Standing
2. Submit a Special Event Checklist - correct answer ✔✔How does a chapter qualify for
Insurance Coverage?
, The Chapter, District, and Region Level - correct answer ✔✔At what levels of the Fraternity does
that General Insurance take part in?
A special event is any event held by a chapter, district or region that IS NOT a regularly
scheduled business/chapter meeting - correct answer ✔✔What is a Special Event?
21 Days - correct answer ✔✔How many days in advance must the Special Events Checklist be
submitted?
EVENT CHECKLISTS SUBMITTED THE WEEK OF THE EVENT WILL NOT BE PROCESSED OR
APPROVED - correct answer ✔✔(True or False)
True - correct answer ✔✔(True or False) Do Special Events need the written approval from
Corporate Headquarters before the chapter can proceed to have the event?
No - correct answer ✔✔Are Personal Vehicles insured from the fraternity's insurance policy?
True - correct answer ✔✔(True or False) Chapters are encouraged to engage a licensed third
party transportation vendor who will provide professional drivers
1. Need to provide Commercial Auto Insurance coverage for transporting people and properly
for a fee
2. ¡Commercial Auto Insurance that provides, at a minimum, primary coverage of $1,000,000.00
combined single limit for bodily injury and property damage.
3. A professional driver who has a valid commercial vehicle operator's license in the state in
which the driver is located. - correct answer ✔✔What are the requirements for a third party
transportation vendor?
Questions and Answers
True - correct answer ✔✔(True or False) The final responsibility for the success of the
management of risk rests with our FRATERNITY, its CHAPTERS and the MEMBERS.
Risk Aversion - correct answer ✔✔What is the first line of defense in liability matters?
Loss Prevention - correct answer ✔✔What is the second line of defense in liability matters?
Loss Control - correct answer ✔✔What is the third line of defense in liability matters?
Insurance - correct answer ✔✔What is the final line of defense in liability matters?
True - correct answer ✔✔(True or False) Whenever hosting an event, a Chapter, District or
Region, must ensure that the event has insurance coverage.
True - correct answer ✔✔(True or False) Chapters , Districts or Regions, can be held liable for
alcohol related accidents as well as any property damage that occurred during the event by
non-members.
1. Be in Good Standing
2. Submit a Special Event Checklist - correct answer ✔✔How does a chapter qualify for
Insurance Coverage?
, The Chapter, District, and Region Level - correct answer ✔✔At what levels of the Fraternity does
that General Insurance take part in?
A special event is any event held by a chapter, district or region that IS NOT a regularly
scheduled business/chapter meeting - correct answer ✔✔What is a Special Event?
21 Days - correct answer ✔✔How many days in advance must the Special Events Checklist be
submitted?
EVENT CHECKLISTS SUBMITTED THE WEEK OF THE EVENT WILL NOT BE PROCESSED OR
APPROVED - correct answer ✔✔(True or False)
True - correct answer ✔✔(True or False) Do Special Events need the written approval from
Corporate Headquarters before the chapter can proceed to have the event?
No - correct answer ✔✔Are Personal Vehicles insured from the fraternity's insurance policy?
True - correct answer ✔✔(True or False) Chapters are encouraged to engage a licensed third
party transportation vendor who will provide professional drivers
1. Need to provide Commercial Auto Insurance coverage for transporting people and properly
for a fee
2. ¡Commercial Auto Insurance that provides, at a minimum, primary coverage of $1,000,000.00
combined single limit for bodily injury and property damage.
3. A professional driver who has a valid commercial vehicle operator's license in the state in
which the driver is located. - correct answer ✔✔What are the requirements for a third party
transportation vendor?
