Question

Conrad Sales Company's vehicles are equipped with a device that allows them to locate each vehicle for tracking purposes. If a vehicle is stolen, the tracking devices can be used to recover the vehicle more quickly. Conrad Sales Company is using the risk management technique of:

A. Duplication.
B. Loss prevention.
C. Loss reduction.
D. Transfer.

Answer 1

The risk management technique being used by Conrad Sales Company is loss prevention.

Step-by-step explanation:

Loss prevention is a risk management strategy that aims to proactively prevent losses from occurring, rather than dealing with them after they have happened. In this case, the use of tracking devices in the company's vehicles helps prevent theft by deterring potential thieves and facilitating the recovery of stolen vehicles more quickly.

By using the tracking devices, Conrad Sales Company reduces the risk associated with vehicle theft and minimizes potential financial losses and disruptions to their business operations.