________ means responding to risk by taking out insurance.
A) Risk reduction
B) Risk acceptance
C) Risk avoidance
D) Risk transference

Question

Quizplus · Accepted Answer

Risk transference refers to the transfer of risk to another party, such as an insurance company, through the purchase of insurance policies. This allows the individual or organization to shift the financial burden of potential losses to the insurance company.

________ Means Responding to Risk by Taking Out Insurance