Personal Risk Management - Understanding Risk

Which of the following is NOT a characteristic of risk?

• Potential

• Unpredictable

• Uncontrollable

• Definite

Wearing a seat belt, helmet or knee pads prevents people from which of the following types of risk?

• Safety risk

• Disciplinary risk

• Financial risk

• Relationship risk

Which of the following is NOT a factor affecting health risks?

• Age

• Income

• Overall health conditions

• Lifestyle

Installing a security alarm and smoke detectors are ways of employing which of the following strategies to manage risk?

• Risk avoidance

• Risk reduction

• Risk retention

• Risk transfer

Which of the following risk management strategies is most effective for small risks not posing any significant financial threat?

• Risk transfer

• Risk avoidance

• Risk retention

• Risk reduction