What is the first step in the risk management process?
A) Evaluating potential losses
B) Identifying your risk exposures
C) Obtaining insurance quotes
D) Choosing the best risk management method
Correct Answer:
Verified
Q1: Speculative risk is defined as the
A) exposure
Q2: A risk that produces only bad outcomes,
Q3: Pure risk is a type of risk
Q5: As in most financial planning, the last
Q6: Frequency of loss is the
A) dollar amount
Q7: If a loss occurs, the dollar value
Q8: Insurance is the risk management method usually
Q9: Which is not an appropriate risk management
Q10: Liability risk is the risk of being
Q11: The severity of loss involves estimating
A) the
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