Q342
Retention of risk may be done conveniently by
A.
Large corporations
AnswerB.
Small companies
C.
Single individuals
D.
None of the three
Answer: Option A
Solution
Answer: Option A
Solution:
Retention of risk may be done conveniently by large corporations. The business would be responsible for all costs and damages that occur as the result of a crisis, accident or other unforeseen incident that results in loss. Retention refers to the assumption of risk of loss or damages.