Please read the case and answer the following questions.

Case:

Man bahadur is an MBA student who hails from hetauda. His father is a renowned businessman and wants Man Bahadur to join his business after his graduation.

He lives in a rented flat in Naya Baneshwor in Kathmandu. He owns a high- mileage 2013 Ford Eco sport compact SUV that has a current market value of Rs. 3,500,000. The current replacement value of his clothes, television, stereo, cell phone, and other personal property in the rent flat totals Rs 1,000,000. He uses progressive photochromic glasses, which cost Rs. 100,000. He also has a waterbed in his rented residence that has leaked in the past. An avid runner, Man bahadur runs five kilometers daily in a nearby UN park that has the reputation of being extremely dangerous because of drug dealers, numerous assaults and muggings, and drive - by shootings. Man Bahadur's parents fully finance his living and study in Kathmandu.

Questions:

1.What kind of risk do you think does Man Bahadur face and why? Explain

2.For each of the following risks or loss exposures that Man Bahadur faces, identify an appropriate risk management technique that he should use to deal with the exposure. Explain your answer.

a.Physical damage to his SUV car because of collision with another motorist and liability lawsuit against Michael arising out of negligent operation of his car

b.Total loss of personal belongings such as clothes, television, stereo, and personal property because of gas fire in the kitchen of his rented flat.

3.As an MBA student and a son of businessman, do you think Man Bahadur needs to buy any insurance? Why? Why not? Explain