Risks Are Managed by

question 63

Multiple Choice

Risks are managed by

• A)transferring risk.
• B)avoiding risk.
• C)accepting risk.
• D)all of the above.

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Definitions:

Defense

Legal strategies and arguments used by a defendant in litigation to counteract the claims made by the plaintiff.

Product Liability

Refers to the legal responsibility of manufacturers and sellers to compensate for harm caused by defective products they market.

Reasonably Foreseeable

Circumstances or outcomes that can be anticipated by a person through the exercise of normal judgement.

Product Defects

Refer to flaws or errors in a product that make it dangerous, unusable, or fail to meet minimum quality standards.