QUESTION 1 (20 Marks) As suggested in the case insert above, banks are in a much stronger position to respond to any emerging risks since the global financial crisis of 2008-09. Do you agree with this statement? Justify your response using relevant findings.

QUESTION 2 (20 Marks) From the perspective of financial institutions, the conditions that the COVID-19 crisis triggered have specific implications for managing and mitigating credit risk. In the past three months, banks have been adjusting to the new dynamics and exploring potential new approaches to the challenges

2.1 Using relevant examples, explain your understanding of credit risk management. (10 marks)

2.2 Discuss the implications for managing and mitigating credit risks among financial institutions. (10 marks)

QUESTION 3 [20 Marks] Critically analyze some of the measures that can be adopted by financial institutions in mitigating credit risks amid the COVID-19 crisis.

QUESTION 4 [20 Marks] "In response to the crisis, leading financial institutions are beginning to approach underwriting and monitoring with a new configuration of sector analysis, borrower resilience, and high-frequency analytics. They have individually and collectively invested in developing refined hypotheses about specific subsectors and are approaching (or have already arrived at) an obligor view of risk assessment". In the context of the financial sector, critically discuss risk assessment.

QUESTION 5 [20 Marks] Suggest measures or methods that can be considered by various organizations in identifying potential risks. Your response should incorporate relevant examples.

QUESTION 6 [20 Marks] Discuss some of the unsound arguments presented by risk management professionals that hinder their ability to successfully manage known and unknown risks.