Which of the following statements about risk management strategies is/are correct?
A)Only statement I is correct
B)Only statement II is correct
C)Both statements I and II are correct
D)Neither statement I nor II is correct

Question

Quizplus · Accepted Answer

Statement I is correct because risk avoidance is a risk management strategy that involves avoiding activities or situations that could lead to a risk. For example, not investing in a company that has a history of financial fraud is a risk avoidance strategy.

Statement II is correct because risk mitigation is a risk management strategy that involves reducing the impact or likelihood of a risk. For example, implementing fire safety measures such as smoke detectors and fire extinguishers in a building is a risk mitigation strategy.

Which of the Following Statements About Risk Management Strategies Is/are