Which of the Following Is Not One of the Three

question 30

Multiple Choice

Which of the following is not one of the three broad approaches to managing risk?

• A) Reduce it
• B) Renew it
• C) Transfer it
• D) Retain it

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Definitions:

Real Property

Land and anything permanently attached to it, such as buildings and fixtures, legally recognized as immovable.

Consensual Lien

A security interest that is agreed upon by the debtor and creditor to secure payment or performance of an obligation.

Mechanic's Lien

A legal claim against a property by a worker or supplier who has not been paid for services provided.

State Statutes

Laws enacted by state legislatures that govern matters within the state's jurisdiction which are not covered by federal law.