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Loss Prevention Is the Best Risk Management Tool When the Chance

question 19

Multiple Choice

Loss prevention is the best risk management tool when the chance of loss is ________ and the potential loss severity is ________.


Definitions:

Chinese Firms

Businesses that are registered and operate out of China, under Chinese jurisdiction.

Negligent Misrepresentation

Providing false or misleading information carelessly, causing someone to suffer loss or damage.

Innocent Misrepresentation

A type of misrepresentation in legal contexts where the person making the misrepresentation genuinely believes it to be true, lacking intent to deceive.

Unilateral Mistake

A legal term describing a situation where only one party to a contract is mistaken about a basic assumption on which the contract is based.

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