If the Chance of Loss Is High and Loss Severity

question 6

Multiple Choice

If the chance of loss is high and loss severity is high, generally the most appropriate risk management tool is:

• A) risk transfer
• B) risk reduction
• C) risk assumption
• D) risk avoidance

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Definitions:

Leadership

Ability to direct or inspire people to attain certain goals.

Planning

The process of setting objectives, determining strategies to achieve them, and developing plans to integrate and coordinate activities.

Empowerment

The process of enabling individuals or groups to gain control, authority, and influence over their own lives or work.

Work Style

The manner or approach an individual takes towards completing tasks or organizing work, often reflecting personal preferences and strengths.