The objective of risk management is to
A) determine the level of risk that is "acceptable" to society
B) evaluate and select the best policy approach to achieve the "acceptable" level of risk
C) evaluate and select the policy initiative to achieve any level of risk
D) (a) and (b) only
E) (a) and (c) only

Question

Quizplus · Accepted Answer

The objective of risk management is to determine the level of risk that is "acceptable" to society (option A) and evaluate and select the best policy approach to achieve the "acceptable" level of risk (option B). Therefore, options (a) and (b) are both correct, but option (c) is not. Therefore, the correct answer is D, which includes only options (a) and (b).

The Objective of Risk Management Is to