This Process Involves Charting Entire Spectrums of Risk, Not Individual

question 24

Multiple Choice

This process involves charting entire spectrums of risk, not individual risk "silos" from each separate business unit.It becomes useful both in identifying risks and in choosing approaches to mitigate them.They present a cumulative picture of all the risks in one risk management solution chart.Identify the process.

• A)Risk mapping
• B)Risk benchmarking
• C)Risk profiling
• D)Risk retention
• E)Principal agent analysis

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Definitions:

Rent-seeking Behavior

Actions by individuals or firms to increase their own wealth without creating new wealth or value, often through manipulating the social or political environment.

Single Payer

A healthcare finance mechanism where a single public or quasi-public agency organizes health care financing, but delivery of care remains largely in private hands.

Budget Deficit

A situation where a government's expenditures surpass its revenues within a specific fiscal period, leading to borrowing or debt accumulation.

Price Floor

A legally established minimum price that can be charged for a good or service, typically above the equilibrium price, to prevent market prices from falling too low.