QUESTION 2

1. Volatility is not a complete or comprehensive measure of risk in that there is no requirement of a possible loss being part of the distribution of outcomes, and though uncertain, the set of outcomes in a distribution might not matter or be relevant to a decision at hand.

   True

   False

2. QUESTION 4 Which of the following is NOT an effective means of reducing the total expected loss?

3. 		Loss control
   		Loss financing
   		Internal risk reduction
   		Maintaining residual risk