The Minimum Likelihood of Loss Involved in the Consideration of a Possible

question 17

Multiple Choice

The minimum likelihood of loss involved in the consideration of a possible significant deficiency is:

• A)Remote.
• B)Reasonably possible.
• C)Probable.
• D)Not considered.

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Definitions:

Occupational Safety and Health Act

A United States law established in 1970 to ensure workplace safety and health standards.

Workplace Safety

Practices and policies implemented to ensure the physical and emotional well-being of employees in their working environment.

ERISA

The Employee Retirement Income Security Act of 1974, a federal law that sets minimum standards for most voluntarily established pension and health plans in private industry.

Fiduciary Responsibility

The obligation of one party to act in the best interest of another within a relationship of trust, such as that between a trustee and the beneficiaries.