Final answer:
Active acceptance is a risk management strategy that involves setting aside risk reserves to respond to a risk event, and this statement is True. It's akin to getting insurance for low-probability, high-impact events, ensuring readiness for 'game over' scenarios with careful planning.
Step-by-step explanation:
The statement that active acceptance establishes risk reserves such as time or resources to be held for use in response to a risk event is True. Active acceptance of a risk involves recognizing a potential risk event and deliberately planning a response strategy in case the risk occurs. This often includes setting aside contingency reserves, like budget or time, to deal with the risk if it becomes a reality. As explained in relation to Figure 20.1, this careful planning for potential catastrophic threats allows minimization of their impact if they do happen. The alternative, which is to do nothing and hope the threat doesn’t materialize (referenced as Plan A), could lead to severe consequences if the risk indeed turns material.
The rationale behind active acceptance aligns with the principle of asymmetric risk. It supports taking serious precautions against low-probability but high-impact events, similar to purchasing insurance. By planning for such risks, the downsides of inaction are mitigated, even though there might be some level of resources designated for a risk that never materializes. This prudential approach ensures that the potential 'game over' scenarios are suitably planned for, despite a low probability of occurrence.