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The measures to reduce chances of occurrence of risk are known as _________.
- ARisk retention
- BLoss prevention
- CRisk transfer
- DRisk avoidance
Correct answer: B
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CCommunity
Loss prevention
The measures to reduce chances of occurrence of risk are known as Loss prevention. The risk removed through risk pooling is known as insurance. Loss prevention measures trim down the chance of incidence of risk. The Insurance provides peace of brains and helps the person to plan his or her business efficiently.
The measures to reduce chances of occurrence of risk are known as Loss prevention. The risk removed through risk pooling is known as insurance. Loss prevention measures trim down the chance of incidence of risk. The Insurance provides peace of brains and helps the person to plan his or her business efficiently.