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Questions and Answers
What is the primary focus of risk management?
What is the primary focus of risk management?
- Increasing profits
- Reducing or mitigating risk (correct)
- Improving customer satisfaction
- Enhancing market share
How many elements of risk can be addressed to mitigate risk?
How many elements of risk can be addressed to mitigate risk?
- Two or more
- One or two
- One or all of three (correct)
- All four
What is the outcome of addressing risk elements in risk management?
What is the outcome of addressing risk elements in risk management?
- Reduced or mitigated risk (correct)
- Increased risk
- Unpredictable risk
- No change in risk
What is the primary goal of identifying risk elements in risk management?
What is the primary goal of identifying risk elements in risk management?
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What is the relationship between risk elements and risk mitigation?
What is the relationship between risk elements and risk mitigation?
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