Identifying residual risk is MOST important to which of the following concepts?
A. Risk deterrence B. Risk acceptance C. Risk mitigation D. Risk avoidance
Answer: B
Explanation: Risk acceptance is often the choice you must make when the cost of implementing any of the other four choices exceeds the value of the harm that would occur if the risk came to fruition. To truly qualify as acceptance, it cannot be a risk where the administrator or manager is unaware of its existence; it has to be an identified risk for which those involved understand the potential cost or damage and agree to accept it. Residual risk is always present and will remain a risk thus it should be accepted (risk acceptance)