Which One of the Following Risk Management Techniques Does a Firm

question 202

Short Answer

Which one of the following risk management techniques does a firm practise when it chooses self-insurance instead of submitting claims to an insurance company?
Risk transfer
Risk avoidance
Risk retention
Risk control
Risk shift

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Definitions:

Endangered Species

Species of animals or plants that are at risk of extinction due to various factors such as habitat destruction, pollution, or overhunting.

Promotional Element

Components used in marketing to communicate a brand’s message or value proposition, such as advertising, sales promotion, public relations, and direct marketing.

Firewalls

Security systems that monitor and control incoming and outgoing network traffic based on predetermined security rules, protecting networks from unauthorized access.

Retinal Scans

A biometric technique that uses the unique patterns on a person's retina to identify or authenticate them.