Question

Which questions about risk should someone ask before making a big purchase? Check all that apply.


What problems are most likely to happen?
What can be done to avoid liability?
What could go wrong?
What problems could be most damaging?
What option has no risk?

Answer 1

Check 1, 2, 3, and 4.

- What problems are most likely to happen? — Yes: assesses probability.
- What can be done to avoid liability? — Yes: liability is a real financial/legal risk and worth addressing (warranties, insurance, contract terms).
- What could go wrong? — Yes: open-ended risk identification.
- What problems could be most damaging? — Yes: assesses severity/impact.

Do not check "What option has no risk?" — there is virtually always some risk; a better question is “Which option minimizes unacceptable risk?” or “What are the trade-offs?”