Parker Department Stores Has Been Hurt in Recent Months by a Large

question 29

Multiple Choice

Parker Department Stores has been hurt in recent months by a large increase in shoplifting losses.Parker's risk manager concluded that while the frequency of shoplifting losses was high,the severity is still relatively low.What is (are) the appropriate risk management technique(s) to apply to this problem?

• A)retention
• B)loss prevention
• C)transfer through insurance
• D)avoidance

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Definitions:

Bilateral

Pertaining to or involving two sides, parties, or countries, often used in the context of agreements or contracts that require obligations from both parties.

Unilateral

A mistake that is the result of an error by one party about a material fact, that is, a fact that is important in the context of the particular contract.

Offeror

An entity or person who puts forth a proposal or bid for a contract, indicating a willingness to enter into an agreement under specified terms.

Consideration

Something of value (such as money, services, or goods) that is exchanged between parties in a contract, making the agreement legally binding.