Identifying Risk and Its Implications

Level: Intermediate

Why you need this course:
After completing this course, you’ll be able to analyze the risks facing a family or an organization.

Upon successful completion of this course, you should be able to:

• Describe each of the following in the context of risk:
• Uncertainty
• Possibility
• Possibility compared with probability
• Explain the following elements for property, liability, personnel, and net income loss exposures:
• Assets exposed to loss
• Causes of loss, including associated hazards
• Financial consequences of loss
• Classify a given risk within the following categories:
• Pure or speculative
• Subjective or objective
• Diversifiable or nondiversifiable
• Describe the three financial consequences of risk.

Cost: $20 per Professional Development Hour (PDH). Information on Professional Development Hours (PDH) provided can be found here.

Identifying Risk and Its Implications Topics Include:

• Uncertainty, possibility, and possibility compared with probability in terms of risk
• Assets exposed to loss; causes of loss, including associated hazards; and financial consequences of loss, as elements for property, liability, personnel, and net income loss exposures
• Classifying risk as pure or speculative, subjective or objective, and diversifiable or nondiversifiable
• Three financial consequences of risk

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