1. Describe how the scope of risks encompassed in enterprise rise management differs from those of traditional corporate risk management.
2. Describe the difference between loss frequency and loss severity.
3. List and briefly describe the four requirements that a plaintiff must prove when suing a defendant in a negligence case.
4. Describe two common-law defenses that are available to a defendant in a negligence lawsuit.
5. Insurers combine a large number of exposure units in the process of risk pooling. Describe the effect of increasing the size of the risk pool on the mean loss of the pool. In your answer, assume that the losses of all the exposure units in the pool are independent and homogeneous