Explanation: There are four risk responses available for a negative risk event. The risk response strategies for negative risks are: Avoid: It involves altering the project management plan to remove the threats completely. Transfer: It requires shifting some or all of the negative effects of a threat including the ownership of response, to a third party. Mitigate: It implies a drop in the probability and impact of an unfavorable risk event to be within suitable threshold limits. Accept: It delineates that the project plan will not be changed to deal with the risk. Management may develop a contingency plan if the risk occurs. It is used for both negative and positive risks. Answer: C is incorrect. There are four responses for negative risk events. Answer: A is incorrect. There are four, not three, responses for negative risk events. Do not forget that acceptance can be used for negative risk events. Answer: B is incorrect. There are seven total risk responses, four of which can be used for negative risk events.