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Question 5 Risk management is a process of identifying loss exposures faced by an organization and selects the most appropriate techniques for treating such exposures.

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Question 5 Risk management is a process of identifying loss exposures faced by an organization and selects the most appropriate techniques for treating such exposures. (a) Explain SIX (6) steps of risk management process. (15 marks) (b) Discuss the advantages of using insurance in a risk management program. (10 marks)

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