Which of the Following Risk Management Techniques Is the Purchase

question 141

Multiple Choice

.Which of the following risk management techniques is the purchase of insurance a common form of?

• A) Risk retention
• B) Risk transfer
• C) Risk assumption
• D) Risk avoidance
• E) Loss control

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Definitions:

Mean

A statistical measure representing the average of a set of numbers, calculated by dividing the sum of all values by the number of values.

Performance Levels

Measures or ratings used to evaluate the effectiveness, quality, or achievements of an individual or organization in specific tasks or goals.

Bar Graph

A visual representation of data using rectangular bars of lengths proportional to the values they represent, which can be oriented horizontally or vertically.

Regression Toward

A statistical phenomenon where extreme cases tend to be less extreme on subsequent measurements.