People who are uncomfortable with risk and who avoid it whenever they can are using the approach of
A)risk retention.
B)risk transfer.
C)risk avoidance.
D)loss control.

Question

Quizplus · Accepted Answer

Risk avoidance is the approach of completely avoiding risk by choosing to not engage in activities or situations that may involve risk. This is a common approach for people who are uncomfortable with uncertainty and prefer to stick with the status quo. Risk retention (A) involves accepting the potential losses that may come with a particular activity or decision. Risk transfer (B) involves shifting the potential losses to another party, such as an insurance company. Loss control (D) is a risk management technique that involves taking steps to prevent or minimize losses once a risk has been identified.

People Who Are Uncomfortable with Risk and Who Avoid It