Lesson 6-1 Activity

1.) What is meant by a personal risk? Provide an example.

2.) What is meant by risk of financial loss? Provide an example.

3.) What is meant by risk of financial resources? Provide an example.

4.) The likelihood of a risk returning in a loss

• probability
• loss
• premium
• risk
• risk assessment

5.) Stopping a behavior that leads to a risk

• risk avoidance
• loss
• premium
• probability
• risk

6.) Passing a risk to another party

• risk transfer
• loss
• premium
• probability
• risk

7.) The chance of injury, damage, or economic loss

• risk
• risk transfer
• loss
• premium
• probability

8.) The process of identifying risks and deciding how serious they are

• risk assessment
• risk transfer
• loss
• premium
• probability

9.) Setting aside money to be used in the event of an injury or loss of assets

• self-insure
• loss
• premium
• probability
• risk

10.) Finding ways to lower your chance of incurring a loss

• risk reduction
• loss
• premium
• probability
• risk