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:

Flow

A mental state of deep involvement and immersion in an activity where an individual experiences focus, engagement, and a sense of satisfaction.

Effort

The use of physical or mental energy to achieve a goal or accomplish a task.

Personal Constructs

Cognitive structures individuals use to interpret and predict events, prominently featured in George Kelly’s personal construct theory.

Cognitive Scripts

Mental representations of sequences of events or actions, guiding behavior and understanding in specific contexts.