Which of the following is NOT a method of managing risk?

The option representing "ignoring" risk is not considered a legitimate method of managing risk. Effective risk management encompasses proactive strategies to address potential hazards rather than simply overlooking them.

In risk management, avoiding risk involves taking steps to prevent exposure to a risk, such as not engaging in activities that pose a hazard. Transferring risk refers to shifting the consequences of a risk to another party, commonly done through insurance. Assuming risk means accepting the possibility of a loss and possibly having a plan in place to manage the impact if it occurs.

Each of these methods is actively engaged in assessing and handling risk, while ignoring it does not involve any strategy to mitigate or manage potential negative outcomes. Recognizing that risk requires attention and strategy is key in practice settings, making ignoring risk an impractical approach to risk management.