What Is the First Step in Failure Modes and Effects

question 91

Multiple Choice

What is the first step in failure modes and effects analysis?

• A) Assign each component an identifier.
• B) List functions for each part.
• C) Identify highest risks.
• D) List one or two failure modes for each function.
• E) Estimate likelihood of failure.

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Definitions:

Expansionary Monetary Policy

A form of monetary policy where the central bank increases the money supply and decreases interest rates to stimulate economic growth.

Net Exports

The value of a country's total exports minus its total imports, representing the net effect of international trade on an economy’s spending balance.

Demarcation

The act of setting boundaries or distinguishing differences between things, often used to establish sectors within fields or professions.

Commercial Banks

Financial institutions that accept deposits, offer checking account services, and provide business, personal, and mortgage loans.