The probability of a loss occurring can be reduced by:
A) risk observance.
B) loss prevention.
C) risk assumption.
D) loss retention.
E) insurance.

Name: The probability of a loss occurring can be reduced by: A) risk observance. B) loss prevention. C) risk assumption. D) loss retention. E) insurance.
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Question

Quizplus · Accepted Answer

Loss prevention involves taking steps to prevent or reduce the likelihood of a loss occurring, which directly reduces the probability of a loss.

The Probability of a Loss Occurring Can Be Reduced By