BUISENESS MANAGEMENT
RISK MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following is NOT one of the basic strategies for dealing with risk?
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avoid the risk
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assume the risk
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deny the risk exists
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transfer the risk to another party
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Explanation:
Detailed explanation-1: -Risk elimination is not a type of risk management strategies.
Detailed explanation-2: -The basic methods for risk management-avoidance, retention, sharing, transferring, and loss prevention and reduction-can apply to all facets of an individual’s life and can pay off in the long run.
Detailed explanation-3: -The correct answer is (d) eliminating all risks. Risks cannot be completely eliminated. However, they can be mitigated. The four stages of risk management are identifying risks, assessing them, controlling them, and reviewing the policies.
There is 1 question to complete.