1.The concept of risk:costs will suddenly rise in an entirely unexpected way,or that some other cost will appear from nowhere and steal the money we've set aside for our expected outlays.

2.Risk Management and Risk Taking:

Risk Management::��The process of understanding,costing,and efficiently managing unexpected levels of variability in the fiancial outcomes for a business.

3.Risk Management Process:

4.Probelms and Challenges in the risk Management Process:

5.Measure and Manage Risk:

Evaluate:

Apply the tools:

Procedures:

6.Distinguish between expected and unexpected loss:

7.Relationship between Risk and Reward:

8.Conflicts of interest impact risk management:

9.Key Classes of Risk:

Market Risk(interest ratest rates,foreign exchange rate,equity and commodity price factors )

Credit Risk:credit grade migration,including default,and the dynamics of recovery rates.

Operational Risk:Operation Breakdowns in term of inadequate or failed internal processes,people,and systems,or external events.

10.Potential Impact of Each Risk on the Organization: