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RISK MANAGEMENT BUSINESS CONTINUITY AND CRISIS RESPONSE EXAM TASKS SOLUTIONS RESILIENCE PLANNING ANALYSIS 2026

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RISK MANAGEMENT BUSINESS CONTINUITY AND CRISIS RESPONSE EXAM TASKS SOLUTIONS RESILIENCE PLANNING ANALYSIS 2026

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RISK MANAGEMENT BUSINESS CONTINUITY
AND CRISIS RESPONSE EXAM TASKS
SOLUTIONS RESILIENCE PLANNING
ANALYSIS 2026



◉ Risk premium
Answer: =E(a)-CE(a)


◉ Insurer
Answer: always charge more than CE(a)
Charge (a)+"loading" overhaul monetary profit-risk premium (weird
L looking shape)


◉ Coeffecient of absolute risk aversion
Answer: r=U"/U'


◉ Expected Utility Function
Answer: E[U(A)]-pu(Wl)+(1-p)u(Wnl
P is unknown

, Inconsistencies may be due to misestimation


◉ Subjective Expected Utility
Answer: P is a random variable pi


◉ Ellsburg Paradox
Answer: 90 balls in an urn 30 are red the rest are a mix of black and
yellow
Ambiguity aversion


◉ Ambiguity aversion
Answer: uncertainty about probability leads to risk averse behavior.
Ellsburg paradox


◉ Traditional Risk management
Answer: Pure risks
-risk manager


◉ Enterprise Risk management
Answer: Pure and speculative risks
-chief risk officer

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