A measure of how big would a loss be if it happened
A. Loss frequency
B. Loss severity
C. Maximum possible loss
D. Maximum probable loss
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Avoid snakes, and you wont get bitten by one
A. Risk avoidance
B. Risk retention
C. Loss prevention
D. Loss control
When you absorb the risk and cover the loss from your own resources
A. Risk avoidance
B. Loss control
C. Risk retention
D. Loss prevention
Selling a risky asset before the loss occurs (selling a risky stock)
A. Loss control
B. Loss retention
C. Loss prevention
D. Risk transfer
Risk management is _____ (always changing)
A. Static
B. Stable
C. Dynamic
D. Simple