IRM International Certificate Practice Questions - IRM International Certificate In Enterprise Risk Management (Module 1 MCQ Exam) Exam

Which of the following correctly distinguishes risk from uncertainty?

Risk involves known probabilities; uncertainty involves unknown probabilities Risk is always negative; uncertainty is always positive Risk applies only to financial matters; uncertainty applies to all business decisions Risk is managed by insurance; uncertainty is managed by diversification

Correct Answer:

Risk involves known probabilities; uncertainty involves unknown probabilities

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