Title: Evaluate insurance as a risk-management strategy.
Course: Economics and Personal Finance (19262-36) > Section: Demonstrating Knowledge of the Role of Insurance in Risk Management

Evaluation should include

- a definition of the term risk management
- an explanation of the ways insurance can reduce financial risk
- an analysis of the pros and cons of insurance as a risk-management strategy in financial planning
- methods to deal with risk (e.g., avoid, reduce, transfer, accept).