1. List and explain three desirable risk management goals likely to be found in a statement of objectives and principles.

2. Describe some purposes served by a risk management manual.

3. Explain three alternative methods a risk manager may use to identify and measure direct property losses.

4. Do all firms face liability losses? Explain your answer

5. List and explain the three main categories of loss control activities.

6. What are the potential advantages of a self-insurance program? What are the potential

disadvantages?

7. What are the steps in developing a risk management plan? Why is the order of the steps

important? Which step is the most difficult to accomplish?

8. What are the requirements for a self-insurance plan as opposed to simple risk retention?

9. How is loss prevention different from loss reduction? Give some examples of each.