To Offset Costs Arising from Operational Risks, FI Managers Spend

question 65

Multiple Choice

To offset costs arising from operational risks, FI managers spend considerable efforts on the following:

• A)loss prevention, loss control, loss financing and loss insulation
• B)loss prevention, loss control, loss investment and loss insulation
• C)loss provisioning, loss control, loss financing and loss insulation
• D)loss prevention, loss control, loss financing and loss creation

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Definitions:

Common Law

Law that is derived from court decisions over time, rather than statutes or written laws enacted by a legislative body.

Mirror Image

In contract law, the principle that an offer must be accepted exactly without modifications for a legally binding agreement to be formed.

Registered Letter

A mail service providing the sender with a mailing receipt, and sometimes includes insurance and tracking of delivery.

Stipulation

An agreement or condition specified in a legal document or contract, often binding the parties to its terms.