Question

    What is the purpose of risk management for an insured?

    A To identify, assess, and control potential losses Correct Answer Incorrect Answer
    B To eliminate all possible risks Correct Answer Incorrect Answer
    C To transfer all risks to an insurance company. Correct Answer Incorrect Answer
    D To avoid any activities that may involve risk. Correct Answer Incorrect Answer
    E None of the above Correct Answer Incorrect Answer

    Solution

    Risk management is the process of identifying, assessing, and controlling potential losses. It aims to minimize the impact of potential losses on an individual or organization.

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