QUESTION 2 Different organisations are exposed to various risks, which may differ from one another. The two main risk categories being Non-financial Risks and Financial Risks. Categorise and discuss the following risks in detail with particular reference to the different types of risks associated with each risk category. Provide relevant examples. i) Definitions for Non-financial and financial risks ii) Liquidity risks iii) Strategic risks iv) Market risks v) Reputational risks vi) Credit risks vii) Legal risks viii) Operational risks 8 marks 5 marks 5 marks 6 marks 6 marks 5 marks 3 marks 2 marks QUESTION 3 Most large organisations use risk financing mechanisms to protect their earnings against high risk losses and the cost of risk. 3.1. Complete the following table with 2 examples per category of the total cost of risk items. (10 marks) Risk Risk Risk Control Risk Analysis Risk Administration Financing Identification 3.2 Name and describe the two fundamental options that organisations have with regard to risk financing and provide suitable examples to support your answer. (30+10 marks for appropriate examples = 40)