Which of the Following Would Not Be Included in a Risk

question 29

Multiple Choice

Which of the following would not be included in a risk management plan (RMP) in relation to a specific risk?

• A) What the organisation is doing to enhance the risk
• B) What the organisation is doing to remove the risk
• C) What the organisation is doing to control the risk
• D) The level of loss an organisation is prepared to accept from the risk
• E) Contingency plans to be put in place should the risk occur

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Definitions:

Club Good

A type of good that is excludable but non-rivalrous, meaning those who do not pay cannot access it, but one person's use does not diminish availability for others.

Common Resource

A resource like air or water that is not owned by anyone, is available for everyone to use, and is rivalrous but non-excludable.

Pennsylvania Turnpike

A toll highway in Pennsylvania, significant for its role in transportation infrastructure in the United States.

Free Rider

A person who enjoys the advantages of goods, services, or resources without bearing the expenses associated with them.