Question：Which of the following are risk management policies and which are risk management techniques?
Deciding not to invest in politically unstable countries
Using a forward contract to hedge a major receipt from a customer
Employing local managers to manage overseas operations to reduce the risk of cultural misunderstandings
Assessing the creditworthiness of new overseas customers before extending credit
A. I and II are policies, III and IV are techniques
B. I and IV are policies, II and III are techniques
C. II and III are policies, I and IV are techniques
D. I and III are policies, II and IV are techniques
The correct answer is:I and III are policies, II and IV are techniques.
解析：The difference between the two is that policies relate to high-level, strategic decisions, whereas techniques are specific to particular risks. Strategic decisions include investment decisions and management decisions so I and III are policies. A forward contract hedges a specific receipt however, so it is a technique. The credit check is done for each customer, so that is also a technique.
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