**Understanding Risk Retention**Risk retention involves...**Select one:**- a. assuming the cost of an uninsurable risk- b. the possibility of loss or gain- c. self-insuring in the event of incurring uninsurable risk- d. stopping the activity that involves risk of loss- e. buying insuranceIn this context, risk retention refers to the practice of a company or individual retaining the financial responsibility for certain risks instead of transferring that risk to an insurance company. It typically involves setting aside funds to cover potential losses. This approach can be part of a broader risk management strategy. We are interested in identifying which option best represents this concept.

Risk retention is an individual or association's choice to assume liability for a specific danger it…

Risk retention involves... Select one: a. assuming the cost of an uninsurable risk b. the possibility of loss or gain C. self-insuring in the event of incurring uninsurable risk d. stopping the activity that involves risk of loss e. buying insurance

Risk retention involves... Select one: a. assuming the cost of an uninsurable risk b. the possibility of loss or gain C. self-insuring in the event of incurring uninsurable risk d. stopping the activity that involves risk of loss e. buying insurance

Principles Of Marketing

17th Edition

ISBN:9780134492513

Author:Kotler, Philip, Armstrong, Gary (gary M.)

Publisher:Kotler, Philip, Armstrong, Gary (gary M.)

Chapter1: Marketing: Creating Customer Value And Engagement

Section: Chapter Questions

Problem 1.1DQ

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Question

**Understanding Risk Retention**

Risk retention involves...

**Select one:**

- a. assuming the cost of an uninsurable risk
- b. the possibility of loss or gain
- c. self-insuring in the event of incurring uninsurable risk
- d. stopping the activity that involves risk of loss
- e. buying insurance

In this context, risk retention refers to the practice of a company or individual retaining the financial responsibility for certain risks instead of transferring that risk to an insurance company. It typically involves setting aside funds to cover potential losses. This approach can be part of a broader risk management strategy. We are interested in identifying which option best represents this concept.

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