Which method reduces the chance of loss to zero?
Risk avoidance is an approach that eliminates any exposure to risk that poses a potential loss. Risk reduction deals with mitigating potential losses by reducing the likelihood and severity of a possible loss.
Which of the following methods help in reducing the frequency and size of losses?
Risk Control. Risk control is the best method of managing risk and usually the least expensive. Risk control involves avoiding the risk entirely or mitigating the risk by lowering the probability and magnitude of losses.
What is two types of loss control Mcq?
Reducing the level of risk activity and increasing precautions against the loss are the two major approaches to loss control.
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CHAPTER 1 www gccabd co in/images/download/877388488 pdf 1Jettisoning means throwing away some of the cargo to reduce weight of the ship and restore Which among the following is a method of risk transfer?
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