ECONOMICS
INSURANCE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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risk management
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risk assessment
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risk avoidance
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risk assumption
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Detailed explanation-1: -A risk assessment is a process to identify potential hazards and analyze what could happen if a hazard occurs. A business impact analysis (BIA) is the process for determining the potential impacts resulting from the interruption of time sensitive or critical business processes. There are numerous hazards to consider.
Detailed explanation-2: -Risks are classified into some categories, including market risk, credit risk, operational risk, strategic risk, liquidity risk, and event risk. Financial risk is one of the high-priority risk types for every business. Financial risk is caused due to market movements and market movements can include a host of factors.
Detailed explanation-3: -Qualitative Risk Assessment. The qualitative risk assessment is the most common form of risk assessment. Quantitative Risk Assessment. Generic Risk Assessment. Site-Specific Risk Assessment. Dynamic Risk Assessment. 10-Mar-2022
Detailed explanation-4: -Identify hazards. Assess the risks. Control the risks. Record your findings. Review the controls.