Responses
A strategy whose goal is to eliminate the risk of loss by stopping the action or behavior that leads to it.
A strategy whose goal is to eliminate the risk of loss by stopping the action or behavior that leads to it.
A strategy that reduces risk by minimizing the chance that the loss occurs or reduces the value lost.
A strategy that reduces risk by minimizing the chance that the loss occurs or reduces the value lost.
A strategy where the risk of loss is shared with another person, entity or group.
A strategy where the risk of loss is shared with another person, entity or group.
A strategy that accepts that the amount at risk is worth the risk taken or that the cost of risk mitigation is too high.
1 answer
The correct response for "risk reduction" is:
A strategy that reduces risk by minimizing the chance that the loss occurs or reduces the value lost.
This definition aligns with the concept of risk reduction, where measures are taken to lower the likelihood or impact of a potential loss.
