Which is not an example of a risk management strategy?
A) Buying a new car
B) Wearing reflective clothing while biking at night
C) Wearing a helmet while biking
D) Wearing a seat belt while driving
Answer:
The correct answer is A): Buying a new car is not a direct risk management strategy.
Explanation:
The answer is that buying a new car is not a direct risk management strategy.
Strategies for risk management aim to prevent or lessen potential losses brought about by risks. As defined to prevent or reduce the possibility of injury or loss in an accident, wearing a seat belt while driving, wearing reflective clothing while biking at night, and riding a helmet are all examples of risk management strategies in the context of this question.
However, purchasing a new vehicle is not a direct risk management approach. While certain safety features in a new car may theoretically lower the risk, simply purchasing a new car is not a risk management plan.
What is risk management?
Risk management is the process of finding, evaluating, and controlling prospective occurrences or situations that may have a negative impact on an organization or individual.
FAQs
What are the 4 risk management strategies?
The 4 risk management strategies are follow:
- Risk avoidance
- Risk mitigation
- Risk acceptance
- Risk transference
Which is not a risk management?
Risk elimination is not a category of risk management strategies
Which is not an example of a risk management strategy buying a new car?
Yes, Buying a new car is not an example of a risk management strategy.
