A risk manager is concerned with
I.Identifying potential losses.
II.Selecting the appropriate techniques for treating losses.
A)I only
B)II only
C)both I and II
D)neither I nor II

Question

Quizplus · Accepted Answer

A risk manager's primary responsibility is to identify and analyze potential losses that an organization may face. This involves identifying potential risks, evaluating the likelihood and potential impact of those risks, and developing strategies for managing or mitigating those risks. Once risks have been identified, the risk manager must then select the appropriate techniques for treating those risks. These techniques may include risk transfer (e.g. insurance), risk reduction (e.g. safety programs), risk avoidance (e.g. not engaging in a particular activity), or risk acceptance (e.g. self-insurance). Thus, both I and II are important responsibilities for a risk manager.

A Risk Manager Is Concerned with