Which of the Following Could You Reasonably Expect Your Risk

question 48

Multiple Choice

Which of the following could you reasonably expect your risk management supervisor to indicate as the most effective use of a business contract?

• A) an aid for a court to interpret a business arrangement
• B) a tool for the management of liability exposure
• C) a means of limiting warranties for defective products
• D) a mechanism limiting alternative dispute resolution

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Definitions:

Advanced Degrees

Educational certifications beyond the undergraduate level, including master's, doctoral, and professional degrees.

Median Earnings

The middle value of earnings in a given distribution, where half of the observation points are below and half above.

Labor Market

The marketplace where the supply of workers is met by the demand for them by employers, determining employment levels and wages.

Median Earnings

The midpoint value of earnings in a specified group, where half earn more and half earn less.