Final_Exam_Study_Gui - PAM 423 Risk Management and Policy Spring 2008 Study Aid for Final Exam Date of the Exam Tuesday May 13 7:00-9:30 p.m

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Risk Management and Policy Spring 2008 Study Aid for Final Exam Date of the Exam Tuesday, May 13, 7:00-9:30 p.m., Goldwin Smith Hall, Lewis Auditorium Structure of the Exam The exam will consist of two distinct parts: Prelim 2 questions, and Final exam questions. Prelim 2 counts for 20 percent of your total grade for the semester and the Final counts for 35 percent of your total grade for the semester. The exam will be structured so that the prelim portion should take about 45 minutes to complete; the final portion should take about 1 hour and 30 minutes to complete. (However, you will have 2 hours and 30 minutes to complete the exam, and may allocate your time as you wish!) The Prelim 2 section of the exam will contain short answer questions and problems, covering the material from after the first prelim through the end of the class. See the Prelim 2 Study Guide for hints about how to study for this portion of the exam. The Final section of the exam will contain short answer questions, discussion questions and a case-based question, and will cover material from the entire semester. To study for this portion of the exam you should review your class notes and handouts, the cases, the Moss readings, and all assignments for the semester. Below are some examples of discussion questions and case-based questions. Examples of discussion questions 1. David Moss argues that many government risk management programs are motivated not by market failures in the traditional economic sense, but by other kinds of problems in markets for risk. What are two such problems that Moss discusses? Give examples of government risk management programs that these problems have helped to shape. 2. Should public risk perceptions (including emotional reactions such as “dread” response, “catastrophe” response, “involuntariness” response) be taken into account in determining a company’s loss prevention activities for low-probability high- severity risks such as chemical spills? Explain your reasoning. 3. You have a job interview at a management consulting firm that does a lot of business in risk management and insurance consulting. Your interviewer, noticing that you took this course, asks: “So, I see that you have taken a course in risk management. Tell me, what is the most important thing you learned in that class from the
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This note was uploaded on 05/19/2008 for the course PAM 4230 taught by Professor Tennyson during the Spring '07 term at Cornell University (Engineering School).

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Final_Exam_Study_Gui - PAM 423 Risk Management and Policy Spring 2008 Study Aid for Final Exam Date of the Exam Tuesday May 13 7:00-9:30 p.m

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