This Is an Explanation of the Strategy Being Used to Reduce

question 24

Multiple Choice

This is an explanation of the strategy being used to reduce the chances that the risk will occur.

• A) Mitigation.
• B) Consequence.
• C) Probability.
• D) Elimination.

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Definitions:

Partial

Incomplete or not whole; affecting only a part of something.

Transfer for Value

In insurance law, the assignment or transfer of a policy from the original policy owner to another party in exchange for consideration.

Negotiation

The process of discussing terms in order to reach a mutually acceptable agreement.

Revised Article 3

refers to updates or modifications made to Article 3 of a specific statute or code, which often deals with negotiable instruments like checks and promissory notes.