Description
1. One of the steps in the “risk management process” is analyzing exposures. What does this step
entail?
2. One of the “Risk Management Techniques is “retention.” What does this step refer to?
3. Explain the major difficulty in using the Balance Sheet as a source for insurable property values.
4. Explain the difference between “loss prevention” and “loss control”.
5. Give an example of a “non-insurance transfer” of risk.
6. List two loss prevention/control measures for each of the following perils:
1. Fire & Explosion
2. Theft
3. Windstorm
4. Flood
5. Earthquake
