| A | B |
|---|
| Security precautions | steps you take to protect yourself against different types of risks |
| Human Risk | the risk caused by the actions of employees or customers |
| shoplifting, employess theft, robbery, credit card fraud, bounced checks | Name 2 examples of human risk |
| Natural Risk | caused by acts of nature |
| storms, fires, floods, earthquakes | Name two examples of Natural Risk |
| Economic Risk | A risk that occurs because of changes in business conditions |
| Shoplifting | act of knowingly taking items from a business without paying |
| Bounced Checks | a check that is written when the checking account has insufficient funds to cover the amount |
| Pure Risk | the chance of loss but no opportunity for game |
| Speculative risks | offers you the chance to gain as well as loose from the risk |
| Controllable risks | risk that can be reduced or possible even avoided by actions you take |
| Uncontrollable risk | is one that actions have no effect on |
| Insurable | a pure risk faced by a large number of people and the amount if the loss can be predicted |
| Property Insurance | insures all business property against normal risks, including fire, robbery and storm damage |
| Casualty Insurance | protects a business against lawsuits |
| Life Insurance | insurance that is paid in the event that the holder of the policy dies |
| Workers Compensation | payment to the workers who are injured on the job |
| Electronic Credit Authorizer | machine that checks to see if a credit card is valid |
| Debt Capital | Money loaned to a business with the understanding that the money will be repaid with interest, in a certain time period |
| Secured Loans | Loans backed by collateral |
| Collateral | Property that the borrower forfeits if he or she defaults on the loan |
| Unsecured loans | loans that are not guaranteed with property |
| Line of Credit | an agreement by a bank to lend up to a certain amount of money whenever the borrower needs it. |
| Short-term loan | A loan made for a very specific purpose that is repaid within a year |
| Long-term loan | loans payable over a period longer than a year |
| Small Business Administration (SBA) | A federal government agency whose purpose is to help small businesses |
| white collar Crime | Financially motivated nonviolent crime committed by business professionals |
| Bank Fraud | To engage in an act where the purpose is to defraud a bank of funds |
| Blackmail | A demand for money or other consideration under threat to do bodily harm, to injure property, to accuse of a crime, or to expose secrets |
| Bribery | When something of value is offered with intent to influence the decisions of the taker |
| Cell phone fraud | The unauthorized use, tampering, or manipulation of a cell phone |
| Computer Fraud | Where computer hackers steal information sour5ces contained on computers |
| Counterfeiting | Occurs when someone copies or imitates an item without having been authorized to do so |
| Credit Card Fraud | The unauthorized use of a credit card to obtain goods of value |
| Embezzlement | When a person who has been entrusted with money or property takes it for their own use |
| Extortion | When one person illegally obtains property from another by threatened force or fear |
| Tax Evasion | When a person commits fraud in filing or paying taxes |
| Weights and Measures | The act of short weighting an item when the label reflects a higher weight |
| Odometer fraud | Where a car salesman purchased used cars and turns back the odometers |
