Parker Department Stores has been hurt in recent months by a ...

[shofmannx20]

Parker Department Stores has been hurt in recent months by a large increase in shoplifting losses. Parker's risk manager concluded that while the frequency of shoplifting losses was high, the severity is still relatively low.
 
  What is (are) the appropriate risk management technique(s) to apply to this problem?
  A) retention
  B) loss prevention
  C) transfer through insurance
  D) avoidance

Question 2

Ryan decided to review his personal risk management program. His car is 10 years old, and he would receive little money from his insurer if the car was damaged or destroyed. Ryan decided to drop the physical damage insurance on the car.
 
  From a risk management perspective, dropping the physical damage insurance on the car is best described as
  A) increasing the use of avoidance in the risk management program.
  B) increasing the use of noninsurance transfer in the risk management program.
  C) increasing the use of retention in the risk management program.
  D) increasing the use of risk control in the risk management program.

[ebenov]

Answer to Question 1

Answer: B

Answer to Question 2

Answer: C

[shofmannx20]

TY

[ebenov]

Happy to Help