When the Qualitative Approach to Risk Assessment Is Used,costs Might

question 127

Multiple Choice

When the qualitative approach to risk assessment is used,costs might be estimated using

• A) replacement costs.
• B) service denial costs.
• C) business interruption costs.
• D) All of these answers are correct.

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Definitions:

Proved Reserves

Specific mineral deposits that have been shown by scientific examination and cost calculation to be extractable and deliverable to the market for use, with current technology and expected market conditions.

Mineral

A naturally occurring, inorganic solid with a definite chemical composition and crystalline structure, used in various industries.

Conservation

The sustainable management and use of natural resources to prevent depletion or degradation, safeguarding biodiversity and ecosystems.

Scarcer

Describes a condition where resources, goods, or services become less available or in shorter supply than previously.