Wayne and Sarah are trying to manage the risk they face in life a best as they can. They are following Principle 7 which states:

Question

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Protecting oneself against major catastrophes is the most important aspect of risk management. By doing so, one can minimize the potential damage that could occur from a significant event. This also aligns with the concept of risk avoidance, which is one of the most effective ways to manage risk. While the other principles are also important, they may not address major catastrophic events in the same way.

Wayne and Sarah Are Trying to Manage the Risk They