Using the qualitative approach to risk assessment,each loss exposure is computed as the product of the cost of an individual loss times the likelihood of its occurrence.

Question

Quizplus · Accepted Answer

In the qualitative approach to risk assessment, risks are assessed based on their characteristics and the impact they might have, rather than calculating a specific numerical value for risk exposure by multiplying the cost of an individual loss by its likelihood.

Using the Qualitative Approach to Risk Assessment,each Loss Exposure Is