Until recently, Approximate Computing (AxC) was considered to be a trend topic mainly for resilient applications. Its use aimed at reducing area and power consumption of Integrated Circuits (ICs) at the cost of a reduced accuracy. Beside, AxC-based fault-tolerance has also emerged recently to save area et power consumption w.r.t. conventional fault-tolerance at the cost of a reduced reliability level. Therefore, approximate fault-tolerance is restricted to non-critical applications. In a previous work, a Quadruple Approximate Modular Redundancy (QAMR) scheme, based on using four approximate circuit copies, was proposed. In a single fault scenario, it provides the same reliability level as Triple Modular Redundancy (TMR). Moreover, QAMR allows reducing area and power consumption costs w.r.t. TMR in many cases. In this paper, we study the occurrence of multiple faults, and compare the QAMR and TMR behaviors. Experimental results highlight the TMR overprovision (i.e. it provides more redundancy than necessary) and show how the QAMR approach can reduce it. Moreover, a thorough analysis of the results shows that a high tolerance to multiple faults is associated to a large circuit area and to a lower percentage of logic shared among different fan-in cones of the circuit outputs.