A Project Team Received a Memo Stating No One Can

question 432

Multiple Choice

A project team received a memo stating no one can come into the office for the rest of the week due to heavy forecasted rain. The projected team reviews the risk management plan and carries out the risk response. The memo that prompted the activation of the risk response is referred to as the:

• A) risk owner
• B) risk impact
• C) risk review
• D) risk trigger

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Definitions:

Home Equity Loan

A type of loan where borrowers use the equity of their home as collateral, typically used for major expenses such as home repairs, medical bills, or college education.

Truth-In-Lending Act

A U.S. federal law designed to protect consumers in their dealings with lenders and creditors by requiring clear disclosure of loan terms and costs.

Adjustable Rate Mortgages

A type of mortgage loan where the interest rate can change over time based on market conditions.

Truth-In-Lending Act

A federal law designed to promote informed use of consumer credit by requiring disclosures about its terms and cost.