Risk Control vs. Risk Management

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

Risk management is the process of identifying and assessing risks, _____, implementing and evaluating controls to reduce the impact of risks.

Create Your Account To Take This Quiz

As a member, you'll also get unlimited access to over 79,000 lessons in math, English, science, history, and more. Plus, get practice tests, quizzes, and personalized coaching to help you succeed.

Try it risk-free
Try it risk-free for 30 days. Cancel anytime
Already registered? Log in here for access

1. Insurance is a _____ type of risk control.

2. When a firm chooses not to pursue an activity for fear of a loss, they are practicing _____.

Create your account to access this entire worksheet
A Premium account gives you access to all lesson, practice exams, quizzes & worksheets
Access to all video lessons
Quizzes, practice exams & worksheets
Certificate of Completion
Access to instructors
Create an account to get started Create Account

About This Quiz & Worksheet

The quiz/worksheet combo is useful in checking your comprehension of risk control vs. risk management. To pass the quiz, you need to know about the meaning of risk management and be familiar with risk types.

Quiz & Worksheet Goals

These materials aid in testing your knowledge of:

  • What type of risk control insurance is
  • Definition of risk management
  • How risks with a high probability of occurrence should be ranked
  • Term for when a firm chooses not to pursue an activity for fear of a loss

Skills Practiced

  • Reading comprehension - ensure that you draw the most important information from the lesson on risk control vs. risk management
  • Information recall - access the knowledge you have gained about the stage of the risk management process where a control's effectiveness at reducing risk is assessed
  • Interpreting information - verify that you can read information about ranking high and low probability risks and interpret it correctly

Additional Learning

Risk Control vs. Risk Management is a lesson you can access any time to complete the following objectives:

  • Examine the purpose of risk control
  • Review the types of risk control and what each entails
  • Identify stages of risk management
Support