Question: 3. There are several techniques available for managing risk. For each of the following risks and risk-control methods, give an example of how the method

 3. There are several techniques available for managing risk. For each

3. There are several techniques available for managing risk. For each of the following risks and risk-control methods, give an example of how the method can be implemented. a. Avoidance: the risk of sinking (by human). b. Loss prevention: the risk of family head's premature death because of a heart attack. c. Loss reduction (in general): the risk of burning a car because of fire. d. Loss reduction (by duplication): the risk of losing accounting documentation. e. Loss reduction (by separation): the risk of losing all money by pickpockets during a vacation. f. Loss reduction (by diversification): the risk of our bankruptcy because of the bankruptcy of our main customer.

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