{"id":33033,"date":"2024-04-15T09:10:33","date_gmt":"2024-04-15T09:10:33","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=33033"},"modified":"2024-04-15T09:10:33","modified_gmt":"2024-04-15T09:10:33","slug":"the-measures-aimed-at-avoiding-eliminating-or-reducing-the-chances-of-loss-production-is-covered-by","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/the-measures-aimed-at-avoiding-eliminating-or-reducing-the-chances-of-loss-production-is-covered-by\/","title":{"rendered":"The measures aimed at avoiding, eliminating or reducing the chances of loss production is covered by:"},"content":{"rendered":"<p>[amp_mcq option1=&#8221;Risk Control&#8221; option2=&#8221;Risk Retention&#8221; option3=&#8221;Risk Avoidance&#8221; option4=&#8221;Risk Financing&#8221; correct=&#8221;option1&#8243;]<!--more--><\/p>\n<p>The correct answer is: A. Risk Control<\/p>\n<p>Risk control is the process of identifying, assessing, and controlling risks. It is aimed at avoiding, eliminating, or reducing the chances of loss production.<\/p>\n<p>Risk avoidance is the process of eliminating a risk by not undertaking a particular activity or by changing the way an activity is carried out.<\/p>\n<p>Risk retention is the decision to keep a risk and not transfer it to another party.<\/p>\n<p>Risk financing is the process of transferring a risk to another party, such as an insurance company.<\/p>\n<p>Here are some examples of risk control measures:<\/p>\n<ul>\n<li>Installing safety equipment<\/li>\n<li>Training employees on safety procedures<\/li>\n<li>Conducting regular inspections<\/li>\n<li>Maintaining equipment<\/li>\n<li>Creating contingency plans<\/li>\n<li>Having a backup system in place<\/li>\n<\/ul>\n<p>Risk control is an important part of risk management. By taking steps to control risks, businesses can protect themselves from losses and disruptions.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[amp_mcq option1=&#8221;Risk Control&#8221; option2=&#8221;Risk Retention&#8221; option3=&#8221;Risk Avoidance&#8221; option4=&#8221;Risk Financing&#8221; correct=&#8221;option1&#8243;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[699],"tags":[],"class_list":["post-33033","post","type-post","status-publish","format-standard","hentry","category-banking-and-financial-institutions","no-featured-image-padding"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The measures aimed at avoiding, eliminating or reducing the chances of loss production is covered by:<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/exam.pscnotes.com\/mcq\/the-measures-aimed-at-avoiding-eliminating-or-reducing-the-chances-of-loss-production-is-covered-by\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The measures aimed at avoiding, eliminating or reducing the chances of loss production is covered by:\" \/>\n<meta property=\"og:description\" content=\"[amp_mcq option1=&#8221;Risk Control&#8221; 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