Risk Managers Avoid Risks That Have

question 45

Multiple Choice

Risk managers avoid risks that have:

• A)low frequency and low severity of losses.
• B)high frequency and high severity of losses.
• C)low frequency and high severity of losses.
• D)high frequency and low severity of losses.
• E)been insured or reinsured.

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Definitions:

Complementary

Goods or services that are often used together, such that the increase in consumption of one leads to an increase in the consumption of the other.

Demand for Labor

The total amount of workers that employers are willing and able to hire at a given wage rate within a certain period.

Fastest Growing

Describes entities or economies expanding at a higher rate compared to others within a specified time frame.

Occupations

Various forms of employment or professions in which individuals engage to earn a living.