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Question 1 22 marks
1.1 In a management meeting, it was decided that the company needs to establish ...
RSK4803 Assignment 3 (COMPLETE ANSWERS) 2024 - DUE 7 October 2024 ; 100% TRUSTED Complete, trusted solutions and explanations
RSK4803 Assignment 3 (COMPLETE ANSWERS) 2024 - DUE 7 October 2024 ; 100% TRUSTED Complete, trusted solutions and explanations.
RSK4803 Assignment 3 (COMPLETE ANSWERS) 2024 - DUE 7 October 2024 ; 100% TRUSTED Complete, trusted solutions and explanations.
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Risk Financing (RSK4803)
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RSK4803
ASSIGNMENT 3 2024
UNIQUE NO.
DUE DATE: 2024
, RSK4803
Assignment 3 2024
Unique Number:
Due Date: 2024
Risk Financing
Question 1
1.1 In a management meeting, it was decided that the company needs to establish the
risk management function. However, there were different views about the main
objective of risk management.
Choose the correct view about the responsibility of risk management: (2)
a. The chief executive officer held that the responsibility of risk management would be
to assess, control, and finance critical risks facing the organisation and report the
outcomes to the board.
b. The chief financial officer stated that the responsibility of risk management would be
to assess critical risks facing the organisation and communicate the assessment to
management and the board.
c. The human resources director argued that the responsibility of risk management
would be to compile a report on all risk exposures of the organisation for reporting to the
board.
d. The compliance officer emphasised that the responsibility of risk management would
be to provide assurance about the management of risks to stakeholders of the
organisation.
Answer: b
1.2 Eskom, South Africa’s largest electricity provider, navigates a challenging and
promising environment in its mission to deliver reliable and sustainable energy to the
, nation. The utility’s handling of debts is crucial for its financial stability, operational
efficiency, and environmental impact. Despite these factors, Eskom’s decisions
regarding liabilities play a pivotal role in its financial stability. Eskom's total liabilities
increased from R77,000 million in 2006 to R480,000 million in 2016. Given that the
liabilities in 2012 were 50% higher than that in 2006, the total liabilities for 2012 would
be calculated as follows: (2)
a. R115,500 million
b. R480,000 million
c. R38,500 million
d. R557,000 million
Answer: a
1.3 Which of the following is not an example of unreimbursed losses? (2)
a. Underinsurance
b. Franchise deductibles.
c. Losses resulting from risks with available insurance cover
d. Uninsured losses, either intentionally or unintentionally
Answer: c
1.4 Comair Limited, a South African airline, operated scheduled services domestically
as a British Airways franchisee and under its own budget brand, Kulula.com. The airline
faced various challenges, including fluctuating fuel prices, regulatory requirements,
weather disruptions, and passenger demand variability. These challenges directly
affected flight schedules, operational costs, and customer experiences. During a
particular disruption, around 191,000 passengers were affected by flight cancellations
and 78,000 passengers experienced delays at Comair during the disruption. If Comair
had initially scheduled flights for 300,000 passengers, what percentage of passengers
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