1. What is risk management? Please write down steps in risk management in general (15 points)

2. What is the reason of an insurance company for being in the market? What are the pre-loss objectives and post-loss objectives for insurance company according to risk management?(20 points)

3. What are the risk management tools for an insurance company? (25 points)

4. Please write down elementary branches and the policies within these branches. Explain the scope of cover in short for each policy. (30 points)