Which of the following BEST defines risk level?

Risk level is determined by the combination of two factors: the likelihood of an event occurring and the impact or harm that could result from that event. This approach allows risks to be prioritized based on their potential effect on the project or system. The likelihood represents the probability of the risk event occurring, while the impact represents the severity of the consequences if the event does happen. This concept is fundamental in risk-based testing and helps guide decision-making during the testing process.References:

ISTQB Certified Tester Foundation Level Syllabus v4.0, Section 1.4.1.