Answer-When should a risk be avoided?

Q: Answer-When should a risk be avoided?

Risk mitigation Once the risks have been identified and assessed, the possible ways to manage the risk may fall into one of the following major actions a Avoid eliminate, withdraw from, or not become involved b Reduce optimise-mitigate c Share diversify-transfer-outsource or insure d Retain accept and contain When the risk event is unacceptable-generally one with a very high probability of occurrence and high impact, the risk mitigation strategy can be to avoid.

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When should a risk be avoided?

Question

When should a risk be

avoided?

A when the risk event has a low probability of occurrence and low impact Correct Answer Incorrect Answer

B when the risk event is unacceptable-generally one with a very high probability of occurrence and high impact Correct Answer Incorrect Answer

C when it can be transferred by purchasing insurance Correct Answer Incorrect Answer

D A risk event can never be avoided Correct Answer Incorrect Answer

E None of the above Correct Answer Incorrect Answer

Solution

Risk mitigation: Once the risks have been identified and assessed, the possible ways to manage the risk may fall into one of the following major actions: a) Avoid (eliminate, withdraw from, or not become involved) b) Reduce (optimise-mitigate) c) Share (diversify-transfer-outsource or insure) d) Retain (accept and contain) When the risk event is unacceptable-generally one with a very high probability of occurrence and high impact, the risk mitigation strategy can be to avoid.

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