Assume that you are considering the purchase of a house. What examples of each of the four types of risk mitigation that are associated with buying a house?
Assume that you are considering the purchase of a house. What examples of each of the four types of risk mitigation that are associated with buying a house?
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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Question
Assume that you are considering the purchase of a house. What examples of each of the four types of risk mitigation that are associated with buying a house?
Expert Solution
Step 1
Risk mitigation is a technique to qualify for & lessen the consequences of threats faced by a company. Similar to risk removal, risk mitigation carries steps to lessen the negative impacts of threats & disasters on company continuity. Dangers that might place a company at risk possess cyberattacks, climate events, & other reasons for material or virtual harm.
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Follow-up Question
In insurance, all of the following loses are an example of pure risk EXCEPT:
a. Injury to a business persons customer.
b. Decline of stock values in the stock market
Solution
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