BSBRSK401A ASSESSMENT;

BSBRSK401A ASSESSMENT; IMPORTANT INSTRUCTIONS •    Your answers to each of the tasks are to be typed into this document or supplied electronically and uploaded. •    No assessment word count has been specified although you are expected to provide good quality answers to each of the questions. •    Although some general discussion between students covering the assessment is allowed your responses to each of the questions must be an individual effort. •    PLEASE NOTE: AAMC Training only wants to see your own work. Please do not upload parts of the learning guide or instructions on how to complete. When this extra information is uploaded it presents unnecessary work for the assessors and in turn delays our assessment responses. Task 1 – Written activities 1.    Name the two categories of risk. • • 2.    Pure risk or speculative risk—which one can usually be mitigated by transferring the risk to another party i.e. insurance company? 3.    What are the four steps in the risk management process? • • • • 4.    In assessing credit risk from a single borrower, a lender must consider what three issues? • • • 5.    The five Cs analysis frame work is the most common of all expert systems. It involves examining the borrower using the five key principles in lending; list them. • • • • • 6.    What are the more common types of security? 7.    What does the PARSER analysis method consider? Task 2 – Project a.    Using the table below, make a list (minimum of two) on what you perceive to be risks for each of the key risk areas for Finance/Mortgage Industry representatives AND list who would be the internal and external stakeholders in the risk identification process. Financial and Economic    Stakeholder/ s    Manage Safety & Health     Stakeholder/s Regulatory/Legal     Stakeholder/ s    Professionalism and Reputation    Stakeholder/s Sales documentation    Stakeholder/s a.    Once completed; provide a brief commentary on your understanding of the Australian Standard AS/NZS ISO 31000:2009 Risk management — Principles and guidelines, i.e. definition and how it affects you as a Finance/Mortgage Industry representative. Task 3 – Case study Clients are expanding their business operations into a franchise opportunity and while they have not had their financials prepared by their accountant for the last two years they want to use their family home as security and obtain a loan. The clients also inform you that they have a fair bit of cash available to assist in meeting the repayments if required. You are just about to meet these clients for the first time. Use the risk register below to identify and describe three potential risks to your organisation, and three potential risks to the client arising from this proposal. Remember, when identifying risk, you need to consider both what can go wrong and how it can go wrong. Risk    L    C    Risk rating (LxC)    Comments Your organisation’s risks Client risks Task 4 – Report Select a risk from the risk register that you developed in Task 2, and develop a risk action plan for this risk. Risk Item no         Describe risk item Responsible area Initial assessment     Likelihood – Consequence – Rating – PREVENTATIVE ACTIONS Training Operational Managerial Resource requirements Responsibilities CORRECTIVE ACTIONS Training Operational Managerial Resource requirements Responsibilities MONITORING & REVIEW ACTIONS