Which of the following is the process of identifying and evaluating risks and selecting and managing techniques to adapt to the risk exposure?
A) risk management
B) insurance management
C) risk research
D) factoring

Question

Quizplus · Accepted Answer

Risk management involves identifying and evaluating risks, as well as selecting and implementing techniques to manage and mitigate the exposure to those risks. Insurance management may be a component of risk management, but it is only one possible technique for managing risks, and it does not encompass the entire process. Risk research may be a preliminary step in the risk management process, but it does not include the selection and management of risk management techniques. Factoring is a financial process that involves the sale of accounts receivable, and is not related to risk management.

Which of the Following Is the Process of Identifying and Evaluating