Quick-X Corp

question 24

Multiple Choice

Quick-X Corp. has recently sent its delivery drivers to a defensive driving course in order to reduce accidents with company vehicles. This is an example of

• A) risk shift.
• B) risk control.
• C) risk transfer.
• D) risk retention.
• E) risk avoidance.

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Definitions:

Compounded Semi-Annually

A method of calculating interest where the interest is added to the principal amount twice a year.

Outstanding Balance

The amount of money owed on a loan or credit account that has not yet been paid.

Amortized

The process of paying off a debt through regular payments, where each payment covers both interest and a portion of the principal amount.

Compounded Annually

Interest on an investment is calculated once a year, with the interest added to the principal.