Identify an appropriate risk management technique

Assignment Help Finance Basics

Reference no: EM13835689

Michael is a college senior who is majoring in marketing. He owns a high-mileage 2000 Ford that has a current market value of $2500. The current replacement value of his clothes, television, stereo, cell phone, and other personal property in a rented apartment totals $10,000. He wears disposable contact lenses, which cost $200 for a six-month supply. He also has a waterbed in his rented apartment that has leaked in the past. An avid runner, Michael runs five miles daily in a nearby public park that has the reputation of being extremely dangerous because of drug dealers, numerous assaults and muggings, and drive-by shootings. Michael's parents both work to help him pay his tuition. For each of the following risks or loss exposures, identify an appropriate risk management technique that could have been used to deal with the exposure.

Explain your answer.

a. Physical damage to the 2000 Ford because of a collision with another motorist
b. Liability lawsuit against Michael arising out of the negligent operation of his car
c. Total loss of clothes, television, stereo, and personal property because of a grease fire in the kitchen of his rented apartment
d. Disappearance of one contact lens
e. Waterbed leak that causes property damage to the apartment
f. Physical assault on Michael by gang members who are dealing drugs in the park where he runs
g. Loss of tuition assistance from Michael's father who is killed by a drunk driver in an auto accident

Reference no: EM13835689

Questions Cloud

Draft overview and report structure - wildlife australia : Simulate a proper systems design consulting project where you, as the designer, will need to work with the client to identify and elicit design requirements.

Improving patient flow in emergency departments : Improving Patient Flow in Emergency Departments

Assignment-you are an investment analyst : As the CFO of your corporation, you are in charge of preparing and analyzing financial statements that will be presented to potential investors and creditors. However, before you can present the financial statements to investors and creditors, you..

Create a marketing communication plan to promote credentials : Your task is to create a 12 month marketing communication plan (IMC) to promote your green credentials based on the use of Rainforest Alliance certified seal.

Identify an appropriate risk management technique : Michael's parents both work to help him pay his tuition. For each of the following risks or loss exposures, identify an appropriate risk management technique that could have been used to deal with the exposure.

Compared with other approaches to business and the marketing : Compared with other approaches to business, the marketing concept

Calculate the market value of renowned colas debt : Calculate the market value of Renowned Cola's debt at year-end 2011. What is the book value of debt? Why do usually use market or book values for debt? Support your answer with appropriate examples and explanations. To the nearest million, calculate ..

What is the days sales outstanding : Problem 1: Snider Industries sells on terms of 2/10, net 45. Total sales for the year are $1,500,000. Thirty percent of customers pay on the 10th day and take discounts; the other 70% pay, on average, 50 days after their purchases. a. What is the ..

Kerberos authentication protocol : Describe 802.1x authentication and the steps that when a wireless client connects to a network using RADIUS server for authentication and Explain the PEAP protocol - how does it differ from EAP and what EAP deficiency does it address?

User Account

All Pages