Which are the methods to manage risks?

A Risk Avoidance
B Risk Retention
C Risk Reduction
D All of the above

Correct Answer: All of the above

Risk Avoidance, Risk Retention and Risk Reduction are the methods to manage risks. There are four main ways to manage risk: risk avoidance, risk transfer, risk reduction and risk retention. Each is applicable under different.
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#Commerce #Insurance

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Opponents of laws that require automobile drivers and passengers to wear seat belts argue that in a free society people have the right to take risks as long as the people do not harm the others as a result of taking risks.As a result,they conclude that it should be each person's decision whether or not to wear a seat belt. Which of the following, if true,most seriously weakens the conclusion drawn above ?
A Many new cars are built with seat belts that automatically fasten when someone sits in the font seat.
B Automobile insurance rates for all automobile owners are higher because of the need to pay for the increased injuries or deaths of people not wearing seat belts.
C Passengers in airplanes are required to wear seat belts during takeoffs and landings.
D The rate of automobile fatalities in districts that do not have mandatory seat-belt laws is greater than the rate of fatalities in districts that do have such laws.
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