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Which type of risk is considered an "insurance model"?
Mitigate the risk
Risk avoidance
Risk acceptance
Transfer the risk
The correct answer is transfer the risk. Transfer the risk is considered the insurance model as using this model, the insured has the insurance company assume the risk for them. Risk acceptance include low likelihood and low consequence risks. Risk avoidance is determined by completing a risk analysis. Risk mitigation occurs by lowering the risk by reducing it to an acceptable level.
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