I think that option "D #2 "  which has the statement "number of times a risk event may occur"  is really the same thing as  #2 "frequency of the risk event"

So in effecr Option "D" has a redudant option between #1 and #2, its just slightly reworded but means the same thing

Think of it another way:

Question:  What are the three primary colors?

A. Red, Blue, Yellow

B. Orange

C. Azul

D.  Both 1). Red, Blue, Yellow  AND 2).  Azul

Answer A is correct.........     Azul means Blue in Spanish, so option #1 and #2 have a redudnant color. 

The number of times the risk event may occur cannot be known. if its known the probablity becomes certainty and its no longer a risk and an issue. 

Mmm for me correct answer is C.

Flipping a coin ,Imagine "the risk" of getting a head or tail.

Answer A: . the total number of possible events divided into the expectations or frequency of the risk event

The total number of possible events, should be "head" and "tail" so 2.

Divided into the frequency of risk event, that's getting a "head" for example, so 1

2/1= 2   Not quite a normal probability because it should be less than 1 (or 100%).

Checking Answer C: " the number of times the risk event may occur"

How many times can you get a "head" with one coin flip, 0 or 1; that's it 50% probability.

For me answer C looks right.

Could anyone else clarify?

Thanks ¡¡¡