Which of the following defines risk avoidance?
A) It refers to the practice of refusing to undertake an activity when the risk seems too costly.
B) It refers to the practice of using various methods to reduce the possibility of a loss occurring.
C) It refers to the shifting of risks to someone outside the company.
D) It refers to the strategy of setting aside funds to meet losses.
Correct Answer:
Verified
Q4: Most property insurance contracts have a coinsurance
Q5: Insurance is an example of _.
A) risk
Q6: Coinsurance is usually used in which of
Q7: Which of the following defines speculative risk?
A)
Q8: _ refers to setting aside funds to
Q10: _ refers to shifting a risk to
Q11: Which of the following is covered by
Q12: _is the uncertainty that some unpredictable event
Q13: _ refers to using various methods to
Q14: _ provide(s) protection against the failure of
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