______Is the Planning That Is Undertaken to Reduce the Risk

question 40

Multiple Choice

______is the planning that is undertaken to reduce the risk of loss from known and unknown events. In the context of insurance, it involves transferring certain risks from the insured to the insurance company.

• A) Allocation of risk
• B) Risk classification
• C) Risk management
• D) Pooling of risk

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Definitions:

Managers

Individuals responsible for planning, leading, organizing, and controlling the operations of a business or a part of it to achieve organizational objectives.

Pay

Compensation received by an employee for their work or services.

Motivator

An internal or external factor that provides the incentive or reason for someone to act or behave in a certain manner.

Performance

The act of carrying out a task or the level of efficiency and effectiveness with which this task is completed.