5. What are the basic approaches that may be used by the risk manager the identification of losses exposure? What are the principal limitation of each approach?

6.What are the various approach that may be used by the risk manager in the identification of loss exposure? What are the principal limitation of each approach?

6.Risk manager argue that sinse avoidance always involves forgoing some active it is undesirable for a firm and for society

A. How would you answer this

B. Cite three situation in which avoidances might be desirable

7.Distingusih avoidance through abandonment from transfers of the activity, property or person.

8.Explain how knowing the frequency and severity of loss for a given exposure to loss is helpful in determining what should be done about that exposure?

9. In determining loss severity it is important to recognize (a)all types losses (b) their ultimate impact (c) the number of units affect (d)their timing

10. What are the requirement for a self-insurance plane, as opposed to simple risk retention.

11. Define captive insurer and explain why captive insurers are formed ? Why Form A Captive?

12. Is self insurance the same as insurance? explain 13. noninsurance transfer

14.The principles of risk management can also be applied to individual or family loss exposure.

A)Brief and describe three major loss exposure that typical individual or family face

B)for each of the loss exposure describe above explain an appropriate technique or combination technique that can be used to treat the exposure

15.Identify he three categories into which insurance coverage may be priority ranked, indicating the nature of the exposure or risk to which each applies