Question: Question 3 Briefly define the term 'Risk Control'. (2 marks) Outline the major risk control techniques used for managing risk. (6 marks) Briefly define the

Question 3

  1. Briefly define the term 'Risk Control'.(2 marks)
  2. Outline the major risk control techniques used for managing risk.(6 marks)
  3. Briefly define the term 'Risk Financing'.(2 marks)
  4. Outline the major risk financing techniques used for managing risk.(6 marks)
  5. Briefly define 'Insurance'.(2 marks)
  6. IdentifyFOUR (4)basic characteristics of insurance.(6 marks)
  7. Private insurers provide social and economic benefits to society. Explain the following benefits of insurance to society:
  8. indemnification for loss
  9. enhancement of credit
  10. source of funds for capital investment and accumulation(6 marks)

  • indemnification for loss
  • enhancement of credit
  • source of funds for capital investment and accumulation(6 marks)

(Total 30 marks)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!

Q:

Question 3 Briefly define the term Risk Control. (2 marks) Outline the major risk control techniques used for managing risk. (6 marks) Briefly define the term Risk Financing. (2 marks) Outline the...

Q:

Question 3 Briefly define the term 'Risk Control'. (2 marks) Outline the major risk control techniques used for managing risk. (6 marks) Briefly define the term 'Risk Financing'. (2 marks) Outli...

Q:

1. Cash Flows and Present Value: a) Briefly describe the consistency principle in Discounted Cash Flows Model. Discuss its application in evaluating a firms different sources of capital (debt, equity...

Q:

1. Cash Flows and Present Value: a) Briefly describe the consistency principle in Discounted Cash Flows Model. Discuss its application in evaluating a firms different sources of capital (debt, equity...

Q:

1 (20 Marks) a. Certain requirements ideally should be fulfilled before a pure risk can be privately insured. Explain the six (6) requirements of an insurable risk. [4] [CLO 3] b. Draw and fill out...

Q:

Can you please answer this questions below QUESTION 1 The key to any successful report is clarity, ____, completeness, and correctness. a. actuality b. longevity c. brevity 2 points QUESTION 2 A is a...

Q:

THE CASE: Adelaide Manufacturing (AM) is a suburban metal manufacturer that is operated by the Carter family and is constituted as a small proprietary limited company. Helen Grant is the firm's...

Q:

THE CASE: Adelaide Manufacturing (AM) is a suburban metal manufacturer that is operated by the Carter family and is constituted as a small proprietary limited company. Helen Grant is the firm's...

Q:

THE CASE: Adelaide Manufacturing (AM) is a suburban metal manufacturer that is operated by the Carter family and is constituted as a small proprietary limited company. Helen Grant is the firm's...

Q:

THE CASE: Adelaide Manufacturing (AM) is a suburban metal manufacturer that is operated by the Carter family and is constituted as a small proprietary limited company. Helen Grant is the firm's...

Q:

Suppose a portfolio manager is considering the purchase of a patriot bond, a 10-year, 7% non-callable bond selling at $1012.90 per $1000 of par value. Assume also that the portfolio manager's...

Q:

The activity levels of two months are given for May month production are 500 units and semi variable cost is Rs. 7000 and for June month Production are 600 units and semi variable cost is Rs. 8000....

Q:

Aya, who has an AGI of $25,000, provided the following contributions in the current year: $2,500 to First Baptist Church $1,000 to Samaritan's Purse $500 to Humane Society of America $100 to person...

Q:

Use the definition of continuity to determine whether f is continuous at a. -7x +4 if x 1 a = 1 Continuous Not continuous