Setting a default value for OCCURENCE_FREQUENCY on the Risk Assessment screen.

Current Version:  IFS Applications 10 UPD 6

The user has requested setting a default value for the OCCURENCE_FREQUENCY field on the Risk Assessment screen.   The LOV is from the Frequency tab in Risk Potential Basic Data.

The field isn’t Mandatory. 

Is the only way to create a Template then set the template as default?

I thought I had done something similar using Conditional Fields > Create a Value Set.

However, Add Value Set is greyed out for the field Frequency (Occurrence Frequency) 

Please advise.