Generic Elective (Commerce)

Insurance and Risk Management

Semester 4
Internal Assessment 1

Instructions for the Students Max. Marks: 10

• Questions 1 and 2 are compulsory and carry equal marks. Ques 3 is a bonus question.
• Rename the document as “Yourname_course_rollnumber” and upload it as PDF file
on https://forms.gle/ZY8hmt33Wi2p7mBn6
• Do not share your answers with other students.

Ques 1- Think about a typical day in your life. Identify all potential risks and formulate a plan
for risk management considering how risk averse you are. For simplicity, assume that risk
aversion is measured on scale of 1 to 5 where 1 is least risk averse and 5 is extreme risk
averse. Assess your risk aversion based on your life experiences. Include as many of the risk
management process components and concepts covered in class as possible.

Ques 2- Consider Joshimath's sinking as an example. What do you believe to be the most
likely causes of this disaster? How can such dangers be mitigated? How can we better prepare
for similar occurrences in other locations? What role does a centralised disaster management
institute play in addressing the issue? Do we have such an institute in India?

Ques 3- Choose 15 attributes (mix of good and bad) that best describe who you are. Now do
this for any one of your insurance and risk management classmates (include name of your
subject).