Which of the following best describes the meaning of "Initial Level of Risk" in Risk Management?

Which of the following best describes the meaning of "Initial Level of Risk" in Risk Management?
A . The categorization after implementation of mitigating actions
B . The categorization after initial risk assessment
C . The categorization after mitigation and residual risk assessment
D . The categorization before determining and implementing mitigating actions
E . The categorization before risk identification

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Answer: D