Detailing All Identified Risks, Including Descriptions, Category, and Probability of Occurring

question 14

Multiple Choice

Detailing all identified risks, including descriptions, category, and probability of occurring, impact, responses, contingency plans, owners and current status is called:

• A)Management reserves
• B)Change control
• C)Contingency reserves
• D)Risk register
• E)Risk profiles

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Definitions:

Shipment Contract

A type of contract specifying that the seller is obligated to send the goods to the buyer, but the risk of loss passes to the buyer when the goods are duly delivered to the carrier.

Tender Of Delivery

A requirement that a seller/lessor have and hold conforming goods at the disposal of the buyer/lessee and give the buyer/lessee reasonable notification to enable him or her to take delivery.

Risk Of Loss

A provision in contracts determining who bears the risk for damage to goods after purchase but before delivery.

Indemnification

A financial agreement in which one party agrees to cover the losses or damages incurred by another.