To Implement a Risk Management Plan,a Business Must First

question 50

Multiple Choice

To implement a risk management plan,a business must first

• A)prioritize the risks.
• B)develop effective strategies to deal with the risks.
• C)revise the plan on a regular basis.
• D)implement the plan.
• E)conduct a legal audit of the business operation.

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Definitions:

Cognition Analysis

The examination and study of mental processes including perception, thinking, memory, and judgment.

Technical Analysis

A methodology for forecasting the direction of prices through the study of past market data, primarily price and volume.

Statistical Analysis

The process of collecting, reviewing, and interpreting data to discover patterns and significance in the collected information.

Positive Reinforcement

A concept in behavioral psychology where the introduction of a desirable or pleasant stimulus after a behavior increases the likelihood of that behavior occurring in the future.