Question 7Fill in the blank: The four common ways to mitigate risk include _____.1 pointaccept it, disregard it, reduce or control it, and transfer itaccept it, ignore it, reduce or control it, and transfer itavoid it, accept it, disregard it, and transfer itavoid it, accept it, reduce or control it, and transfer it

What are four possible actions that you can take in response to an identified risk? Group of answer choicesAccept / Mitigate / Transfer / AvoidAnalyse/ Insure / Implement / ReviewAccept / Analyse / Treat / TransferTreat / Report / Insure / Cancel

In addressing a risk that has low potential impact and relatively high cost of mitigation or reduction, which strategy will accept the risk and its consequences?risk avoidancerisk retentionrisk sharingrisk reduction

Risk treatment is best described as a process to address a risk by choosing to:Select one:a.Avoid or remove itb.Accept it with modificationc.Accept it without modificationd.All of the above

What does risk control involve?Avoiding the riskEliminating the risk as far as is reasonable practicableAccepting the riskNone of the above

What does the term "mitigation" mean in risk management?Question 47Select one:a.Reducing the probability and/or impact of a riskb.Exaggerating the risks for emphasisc.Accepting the risks without taking any actiond.Transferring all risks to another party