Name: ___________________
Sports and Entertainment Marketing
Date: ____________________
Lesson 2.2 Worksheet
Directions: Use your notes from the lesson and a textbook to answer the following questions.
1. Define Risk:
Categories of Risk: Fill in each category or Risk and provide an example
2. Natural RiskExample:
3. Human RiskExample:
4. Economic RiskExample:
Additional Categories or Risk that fall under the 3 categories
5. A loss can be prevented or the likelihood of it occurrence is known as _____________________.
6. Pure Risk for which the chances of loss are predictable and the amount of the loss can be
estimated is known as.
7. Investors take a risk when the outcome of an event is not known, this is known as:
______________________.
Name: ___________________
Sports and Entertainment Marketing
Date: ____________________
Lesson 2.2 Worksheet
Managing Risk- There are 4 different ways for to take into consideration in sports and entertainment
that all fall under Risk Management.
8. Define Risk Management:
Risk Avoidance
Risk Insurance
Risk Transfer
Risk Retention
9. _______________________ Businesses that face uninsurable risks must assume the cost of the
risk.
10. ______________________ Companies are liable for risky situations such as hiring security,
posting warning signs, or having proper emergency exits.
11. ______________________ Contracts with insurance companies and other financial institutions
to cover their risk of financial loss.
12. ______________________ Transferring Risk to another company or even to the consumer.