[qdeck card_back= “white”; click_flip=”false” style=”width: 600px; height: 420px; border: 4px;” align=”center”] [h]

Risk Analysis and Insurance Planning

[i]
Welcome to this set of flashcards about Risk Analysis & Insurance Planning. Here’s how it works:

1. Click ‘Check answer’ to see the answer to each card.
2. If you don’t know it as well as you’d like to, click ‘Need more practice,’ and that card will go to the bottom of the stack so you can practice it again.
3. If you know it, click ‘Got it.’
4. ‘Shuffle’ lets you shuffle the deck.

[start]

[q] Types of Risk [a] Pure Risk: chance of loss or no loss (insurable)
Speculative Risk: chance of loss, gain or no loss (uninsurable)   [q] Fundamental vs. Particular Risk

[a] Fundamental: Risk that can impact a large number of people. E.g natural disaster Difficult for insurance companies to insureParticular Risk: impacts one person

[q] The Risk Management Process
[textentry] [a] Five Principal Steps
1. Clarify objectives
2. Identify the risk
3. Measure the risk
4. Manage the risk [x]
Welcome to this set of flashcards about Risk Analysis & Insurance Planning. Here’s how it works:

1. Click ‘Check answer’ to see the answer to each card.
2. If you don’t know it as well as you’d like to, click ‘Need more practice,’ and that card will go to the bottom of the stack so you can practice it again.
3. If you know it, click ‘Got it.’
4. ‘Shuffle’ lets you shuffle the deck.

[restart]

[/qdeck]