A. Individuals who are in charge of handling loss exposures for organizations are called "risk managers."

i. Why is the identification of Hazards and the preparation for perils important in risk management?

ii. Describe THREE (3) physical hazards that may confront the risk manager of your college.

B. "In the absence of utmost good faith when seeking insurance coverage, this situation is likely to occur in relation to the insurance company and the pool of exposures?"

i. Explain the insurance principle referred to in the above statement.

C. Age, Gender and Health are factors one must consider when assessing risk. What is the role of the following factors as key criteria for judging risk, providing insurance coverage and costing that insurance premium? Explain each: