Question: EXPLAIN THE CONCEPT OF FREQUENCY AND PROVIDE AN EXAMPLE. EXPLAIN THE CONCEPT OF SEVERITY AND PROVIDE AN EXAMPLE. EXPLAIN WHAT ENTERPRISE RISK MANAGEMENT IS. EXPLAIN

  1. EXPLAIN THE CONCEPT OF FREQUENCY AND PROVIDE AN EXAMPLE.
  2. EXPLAIN THE CONCEPT OF SEVERITY AND PROVIDE AN EXAMPLE.
  3. EXPLAIN WHAT ENTERPRISE RISK MANAGEMENT IS.
  4. EXPLAIN THE STEPS INVOLVED IN RISK MANAGEMENT.
  5. EXPLAIN THE CONCEPT OF RISK FINANCING AND PROVIDE AN EXAMPLE.
  6. EXPLAIN THE CONCEPT OF RISK AVOIDANCE AND PROVIDE AN EXAMPLE.
  7. EXPLAIN THE CONCEPT OF RISK MITIGATION AND PROVIDE AN EXAMPLE.
  8. LIST 4 RISK MEASURING TOOLS AND EXPLAIN WHAT THEY MEASURE.
  9. DESCRIBE IN DETAIL HOW INSURANCE WORKS.
  10. EXPLAIN WHAT EXCLUSIONS ARE IN AN INSURANCE POLICY, WHY THEY ARE NECESSARY AND GIVE 3 EXAMPLES FROM YOUR AUTO OR HOME POLICY.

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