a. define risk management;

b. describe features of a risk management framework;

c. define risk governance and describe elements of effective risk governance;

d. explain how risk tolerance affects risk management;

e. describe risk budgeting and its role in risk governance;

f. identify financial and non-financial sources of risk and describe how they may interact;

g. describe methods for measuring and modifying risk exposures and factors to consider in choosing among the methods.