Explanation
According to , page 16-17, insurance belongs to sharing technique which is "a way of transferring some or all financial consequences associated with a particular exposure". It involves paying a premium in exchange for compensation in case of loss.

Explanation
ISO 31000:2018 risk management process is descriptive . This means that it provides guidance on what should be done for effective risk management, but not how it should be done. The process can be customized to any organization and its context.

Explanation
According to ISO31000 (2018), clause 5., establishing the context involves defining "the external and internal parameters to be taken into account when managing risk". The internal context includes "information systems, information flows and decision-making processes" among other factors.

Explanation
According to , page 23, after validating the training curricula, a risk management professional schedules and conducts training sessions based on the target audience's needs and availability.

Explanation
According to 3, a captive insurance company is "a wholly owned subsidiary insurer that provides risk mitigation services for its parent company or related entities". It can act as a reinsurer by accepting risks from other insurers or captives 1. It can also access reinsurance markets to transfer some of its own risks 1. It can sometimes offer greater cover than is available in the insurance market by tailoring its policies to suit its parent's needs 3. It does not have to be located in the same country as its parent company; in fact, many captives are domiciledoffshore for tax or regulatory reasons