Question

What are 10 loss exposures that you and/or your family face? Be creative and come up...

  1. What are 10 loss exposures that you and/or your family face? Be creative and come up with things that no one else will have. Number them 1 – 10.

  1. Draw a risk map and place the number that corresponds with your exposures 1 – 10.

  1. Select one of your loss exposures. Describe a loss control technique that you could use to mitigate the possible loss.
  1. Select another one of your loss exposures and describe how you plan to finance the financial impact of that loss if it occurs.
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Answer #1

10 loss exposure that me and my family will be facing as follows-

1.Risk of life and health.

2. Risk of financial losses

3. Risk of job loss.

4. Risk of loss on investments.

5. Risk of business losses.

6. Risk of increase in taxation

7. Risk of change in political regime.

8. Risk of changing environment

9. Risk of loss of relationship.

10. Risk of being abandoned by society

Risk of loss on investment can be mitigated by proper hedging strategies and taking up exposures in derivatives market so that losses arising out of decreasing value of investment can be minimised and neutralized

If there is a risk of job loss then if there is job loss so I will be trying to seek alternate job and I'll be trying to deal with the loss of salaries by doing some self employment activities.

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