The third step in risk management is:
A) creating large enough pools to diversity risk
B) the process of the assessment of risk
C) the process of identifying risk tools
D) the process of identifying possible risks that can occur

Question

Quizplus · Accepted Answer

The third step in risk management is the process of assessing risk, which involves identifying, analyzing, and evaluating potential risks. It is important to assess risk before taking steps to manage it, in order to determine which risks are most significant and prioritize risk management efforts. A and C are incorrect choices, as they relate to other steps in the risk management process, and D is too specific (identifying risks is part of the overall risk assessment process).

The Third Step in Risk Management Is