Name two ways that can you transfer risk

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Problem: You have a friend, Icahn Betitall, who just started a small business. He is paying a hefty premium for insurance. Icahn's insurance agent told him that he is insuring against the risk of loss on fire, theft, liability, and business interruption. Icahn also has policies for life, health, and automobiles. Icahn is planning a trip to Las Vegas. He plans to contact his agent and obtain a policy on the risk of losing his money at the blackjack table.

Required:

Question 1: What should you tell Icahn about being able to purchase such a policy?

Question 2: What are several methods that Icahn can choose to manage his risk exposure in Las Vegas?

Question 3: What types of risk would Icahn be able to transfer?

Question 4: Name two ways that can you transfer risk?

Reference no: EM132419031

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