Which of the following statements concerning risk management is CORRECT? The objective of risk management is to choose efficiently among the methods of handling risk, to avoid a catastrophic loss. Risk management addresses both insurable and uninsurable risks. The classic risk management model suggests that if the probability of loss is high and the severity is high, the risk should be insured. The classic risk management model suggests that if the probability of loss is low and the severity of loss is low, the risk should be retained. A) I, II, III, and IV B) I, II, and III C) I, II, and IV D) III only