In General, the Probability of Failure Is Determined by

question 99

Multiple Choice

In general, the probability of failure is determined by

• A) Deterioration mechanism
• B) Effectiveness of inspection program
• C) Consequence detailed
• D) A&B

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Definitions:

Third Party

An individual or group not directly involved in a contract or legal transaction but could be affected by its outcome.

Agency Relationship

A legal and fiduciary relationship between two parties, where one (the agent) is authorized to act on behalf of the other (the principal) in business transactions.

Illegal

Activities or practices that are forbidden by law and subject to penalties if violated.

Agency Agreement

A contract in which one party (the agent) agrees to act on behalf of another party (the principal) in particular transactions.