Samuel was recently hired as a risk management professional for Parker Property Management. He has been asked by senior management to review the organization's current insurance policies to make sure that the organization is adequately protected, and also see if there are any opportunities to save on the premiums. Samuel must do which one of the following through internal communication before he will be able to complete this task?
Select one:
A. Earn the confidence of the organization's board of directors
B. Determine the organization's risk appetite
C. Become familiar with industry regulations
D. Identify all of the risks that the organization faces

ISO Guide 73:2009 Risk Management – Vocabulary defines risk tolerance as "an organization's or stakeholder's readiness to bear the risk after risk treatment in order to achieve its objectives," whereas ISO 31000 does not include a definition of risk tolerance or risk appetite.

How does one determine risk tolerance?

Your capacity and willingness to tolerate a decrease in the value of your investments is known as your risk tolerance. Ask yourself how comfortable you will be maintaining your positions during significant declines in the stock market when determining your risk tolerance.

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