Los Angeles Mission College Chapter 10 Risk management Questions
Question Description
- This assignment requires that you work through the risk management process outlined in Chapter 10 and write a two-page reaction paper (in paragraph form) utilizing the risk management process that covers the following:(Risk management process outlined in Chapter 10 is attached below) (Any personal questions can be asked to before answering question)
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- What risks are you exposed to?
- How do you manage these risks? Discuss any forms of risk management you use (i.e. risk transfer, risk avoidance, etc.)
- If you utilize risk transfer and purchase insurance, what does your insurance policy cover (be sure to list the types of insurance coverages you have, limits on liabilities, deductibles or co-payments).
- Are you adequately insured?
- Why or why not?
- Can you afford any additional insurance at this time? If yes, what are you planning to purchase? If not, what should you buy first, second, etc. when you have the money?
- For life insurance, complete the worksheet on page 3629( is attached below) and discuss in your paper what you might do to meet the need indicated and how your needs might change over the next few years. Your need for life insurance is based on your current need so if you don’t have a spouse or children, do not include needs to take care of them.
- Remember, if you are the only one being supported by your income now there is no need to make provisions for replacing your income should you die. Also, Social Security Survivor’s benefits are only payable if you have children 17 or under (or 18 if still in high school).
- You must turn in the completed worksheet. Scan or save the life insurance worksheets as a pdf file. ( is attached below)
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